The Romanian office would like to announce an important legislative change regulated by the Emergency Ordinance no. 191/2020 regarding the extension of the deadline for the submission of certain documents required from associations and foundations, as well as on legal entities registered in the Trade Register.
This Emergency Ordinance entered into force on 30 October 2020, specifying that the deadline for the submission of the declaration on the beneficial owner for those legal entities registered in the Trade Register is a maximum of 90 days from the end of the state of alert. The declaration on the beneficial owner may be in the form of a document under private signature or in an electronic form, and it may be transmitted to the Trade Register office through electronic means, with an electronic signature, or through postal or courier services.
The same deadline extension applies not only to the submission of the declaration on beneficial owners for associations and foundations, but also to their obligation to complete the documents according to the applicable law.
PETERKA & PARTNERS Romania remains available for detailed information regarding this topic, as well as for other legal issues connected to your business.