Amendments on the legal regime of the franchise
Law no. 179/2019 of October 10, 2019 for amending and supplementing Government Ordinance no. 52/1997 regarding the legal regime of the franchise, as well as for the modification of art. 7 point 15 of Law no. 227/2015 regarding the Fiscal Code was published in the Official Gazette no. 829 of October 11, 2019.
Within 60 days of the entry into force of this law, the Romanian Franchise Association, a public utility association, establishes the National Franchise Register in which, upon request, the information provided by the franchisors is recorded through the disclosure document. Franchisors have the opportunity to register the information disclosure document for free in the National Franchise Register. The content and method of administration of the National Franchise Register are established by order of the head of the central public authority with responsibilities in the field of business, within 30 days from the entry into force of this law.
Foreign Direct Investment in Romania in 2018
The National Bank of Romania published the Annual Report on Foreign Direct Investments in Romania in 2018. In 2018, FDI net flows stood at EUR 5,266 million.
As at end-2018, the FDI stock amounted to EUR 81,124 million. The result was calculated by adding to the FDI stock at the end of the previous year the FDI net flows (transactions) and the other flows (components leading to stock changes, namely positive/negative adjustments arising from revaluations of foreign currency assets – following the changes in the exchange rate, the revaluation of some tangible fixed asset prices, as well as the changes in the market value of listed FDI enterprises – changes in the accounting treatment of opening positions and data corrections in the previous statistical reports).
Doing Business 2020 publication
Doing Business 2020, a World Bank Group flagship publication, is the 17th in a series of annual studies measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies. Main findings:
Doing Business captures 294 regulatory reforms implemented between May 2018 and May 2019. Worldwide, 115 economies made it easier to do business.
The economies with the most notable improvement in Doing Business 2020 are Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India and Nigeria. In 2018/19, these countries implemented one-fifth of all the reforms recorded worldwide.
Doing Business 2020 continues to show a steady convergence between developing and developed economies, especially in the area of business incorporation. Since 2003/04, 178 economies have implemented 722 reforms captured by the starting a business indicator set, either reducing or eliminating barriers to entry.
Twenty-six economies became less business-friendly, introducing 31 regulatory changes that stifle efficiency and quality of regulation.
Adeco – new service launch: virtual office
Adeco Advisory Development & Consultancy Services has launched a new service: virtual office. This new service will allow clients to establish a company remotely. The primary services offered as part of these new virtual services are:
- establishment of a business address in Bucharest;
- virtual correspondence allowing you to receive, sort, get notified of or forward mail to an email or another physical location;
- reserve a meeting room when the need arises for you and your staff to meet physically;
- establish a company remotely by allowing Adeco to maximally reduce and delegate your bureaucratic efforts.