Monday, April 29, 2013

The Issue of Green Energy in Romania (Government vs Investors)



The Romanian government seems to conduct an indirect dialogue with foreign investors looking to invest in (green) energy in Romania. The Association of Foreign Investment in Romania (FIC) has very recently issued a press release related to Romania’s need for stable and predictable legislation for the energy market.

In FIC’s view (reported by Mediafax), Romania is lagging behind other European countries in the implementation of energy efficiency measures, and the authorities need to set realistic goals and implement balanced policies that do not distort the market.

"Romania needs to establish some realistic goals for energy efficiency and implement balanced and cost effective to avoid market distortions. Should further stimulate investment in energy efficiency and clean technologies to reduce its dependence fossil fuels especially since it is possible that in the future their prices to rise. European funds can be better used to encourage investment in this area especially since these funds are the most consistent and least expensive source of funding available moment for Romania, continues FIC. And the most important message:

To attract investment in the energy efficiency sector, but also in other forms of energy value chain, Romania must adopt a legislative framework characterized by stability, predictability, transparency and ease of application.

In turn, the Romanian Government announces that Producers of electricity in solar panels may not be allowed to install the unit on agricultural land, it will be one of the changes to be made to the law to promote renewable energy.

"Next week we will issue the Emergency Ordinance. And there will be some changes because I received several interesting proposals. For example, why put photovoltaic panels on agricultural land?" asked the Romanian Energy Minister.

We will just have to wait and see as the Romanian Government is always famous for not actually introducing advertised changes of legislation.

Thursday, April 25, 2013

Romanian Gearboxes for Mercedes (foreign investment for Romania)

It seems that the combination of specialized labor force and low salaries continues to be very attractive for foreign investors in Romania. In accordance to the Romanian Press (Mediafax),  
German group Daimler will invest over 300 million euros in Romania to expand production of gearboxes for Mercedes-Benz, the local subsidiary Star Transmission in Sebes, Alba county.

As a Romanian Law Firm oriented towards foreign investment we salute this very important announcement made by the German investor.



 Mercedes-Benz Cars, will expand production capacity Star Transmission, because the factory in Stuttgart already operating at full capacity, it said in a release issued Wednesday by the German group.
The company will invest over 280 million euros in Romania to manufacture new generation of automatic gearboxes and the total planned investment exceeds 300 million, the statement said.
Factory in Stuttgart will remain production center gearboxes for Mercedes-Benz vehicles and act as a center of competence for production network gearboxes said Peter Schabert turn, production manager systems transmission in the Mercedes-Benz.
"Star Transmission is over 10 years, a trusted partner of facilities producing transmission systems in Germany. Given the current situation and the experience and excellent collaboration with Star Transmission, the preferred embodiment to provide additional production capacity in a flexible manner, is to expand operations in Romania, "said Schabert.
Romanian employees will follow a special qualification to the factory in Stuttgart-Untertürkheim to ensure the transfer of the German experience in production, quality assurance, maintenance and logistics.
Star Transmission was established in 2001 and has 800 employees in production capacities Cugir and Sebes (Alba), which produces components for engines and gearboxes for Mercedes-Benz, both current models and for models old, ensuring availability of spare parts.
The company produced in 2011 Cugir (mass production parts and components), and Sebes (limited series production, prototypes and devices, including gearbox assembly). Production was transferred from Sebes Cugir last year.
Since mid of this year, Star Transmission (which Daimler holds 78% of shares) will produce the Sebes gearbox five-speed automatic. Since 2014, the current generation of dual-clutch gearbox will also be assembled at Sebes.
The German company plans to assemble the Sebes since 2016 and a new generation of automatic gearboxes, if you get the support of the Romanian Government to expand production capacity.
Prime Minister Victor Ponta announced in late March that approved a memorandum of understanding with "one of the largest and most prestigious companies in Germany, which will open a factory in Romania", without specifying the name of the investor.
Asked what field will invest this company, Premier has shown that it is an area "very dear" Romania, already working two large significant producer.

Monday, April 22, 2013

Partnership with Luxembourg Law Firm

Our Law Firm is continually looking for international partners in order to better serve the needs of our clients. For those  interested in legal services in Luxembourg, we recommend the website of our local partners: Luxembourg Law Firm. With a very informative website, the Lawyers-Luxembourg.com team is formed of experienced attorneys with an important background in Business Law. Lawyers-Luxembourg.com provides legal assistance to foreign investors in Luxembourg: Company Formation in Luxembourg, Intellectual Property Law and Business Law.
Website: www.lawyers-luxembourg.com

Thursday, April 18, 2013

Starting a Recruitment Agency in Romania

In view of the upcoming cancellation of Romanian labor market restrictions for the United Kingdom, we have seen an increase in the interest of setting up Romanian Recruitment Agencies creation with the purpose of exporting personnel. Investors looking to create a Recruitment Agency in Romania should be aware that the current Romanian legislation imposes some specific requirements for the lawful setup and activity of such a company. For any information for the formation of a Recruitment Agency please contact us http://www.romanianlawoffice.com

Per the Romanian Press today, it seems that the plan to eradicate the labor market restrictions for Romanian citizens will go as planned in 2014, in spite of rumors.

As reported by Mediafax, Bulgarian head of state Rosen Plevneliev has received assurances from the British Prime Minister David Cameron on cancellation in 2014 on the British labor market restrictions on Romanians and Bulgarians (the announcement has been made by the Bulgarian presidency).

"The president is certain that the cancellation of restricting access to the labor market from next year will be carried out smoothly," announces the Bulgarian Presidency in a statement released Wednesday evening.

Bulgarian President, who visited London during the funeral of former British Prime Minister Margaret Thatcher, "categorically denied the speculation about a wave of Bulgarian immigrants in other countries of the European Union (EU)," reads the release.

Britain has tightened in recent years, the policy towards immigrants, introducing restrictions on the rights of immigrants in housing assistance, unemployment benefits and access to healthcare.

Monday, April 8, 2013

New Law for Romanian Micro-Companies

The Law For Romanian Micro-Companies has changed (yet again). Basically there is no requirement anymore to employ local persons or some other past requirements for that matter with the exception of having income below 65,000 EUR.
What is also very important to note is that ALL SRL companies will start off being "Micro-Companies" until these reach the threshold of 65,000 EUR and will therefore pay an income tax of 3% rather than the profit tax of 16%.
The following requirements remain:
1. it has sources of income other than consultancy, management activities, banking, insurance or gambling;
2. its income has not exceeded the amount of 65,000 Euros
3. The State, public authorities or local authorities cannot be shareholders in the company.
For other details please see:
http://www.romanianlawoffice.com/romanian-micro-company.htm