Reliable Legal Guidance for Successful Romanian Investments
Tonucci & Partners, an international law firm present for over 13 years in Romania’s legal services sector, has developed significant expertise in providing high-level legal assistance to investors in the Romanian market. The firm’s local partner, Daniel Urdoi, is confident about the growth potential of the Romanian economy and believes that expert assistance concerning the legal challenges related to investments can contribute to the success of business.
What are the main advantages of investing in Romania?
Daniel Urdoi: Various factors make Romania an interesting destination for investments including the low level of taxation, particularly the 16% flat rate for corporate taxes, low property prices for both agricultural and residential land, relatively low labour costs compared to those in other European countries and EU financing programmes for the development of agriculture, infrastructure and tourism. All these factors give the Romanian economy an important growth potential.
From a legal perspective, what are the main challenges an investor in Romania should expect?
Daniel Urdoi: Following Romania’s accession to the EU in 2007, new provisions aimed at modernising the legal framework were adopted, including new civil and criminal codes and significant changes in the regulations for many important sectors like real estate and construction, agriculture and energy. The adoption of such an important number of new regulations within a relatively short period of time has generated some difficulties related to the uniform application of such regulations. Until the new regulations are more uniformly applied by authorities and the courts, in order to secure the investments from a legal point of view, the support of experienced legal professionals is highly recommendable.
What kind of legal assistance can your law firm provide to an investor?
Daniel Urdoi: Our team of legal professionals is composed of highly qualified professionals with excellent academic backgrounds who are able to provide legal assistance in several languages. They also have vast expertise in providing investors in Romania with a wide range of customised legal services which are designed to maximise the benefits Romanian legislation offers. Along with our team’s solid experience, we offer a dynamic vision for providing flexible and effective solutions. Not only do we constantly update our clients via newsletters about regulatory changes which will have a possible impact on their businesses, but we also use specialised communication channels in order to always be in touch with customers interested in specific sectors. To better meet our clients’ need to be constantly updated concerning relevant legal matters, we have developed two blogs on two sectors of particular interest in the Romanian economy: renewable energy and agriculture.