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Serious crimes, such as tax evasion, corruption offenses, or money laundering provoke serious responses from law enforcement authorities. When such offenses are committed, the law provides for compulsory precautionary measures to be taken against the assets of the offenders, at any stage of the criminal proceedings.

In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With a rough year drawing to a close, and market uncertainties running high, the question this time: If you had a million dollars, what would you invest it in today?

According to Law no. 17/2014 on the regulation of the sale of agricultural land located outside a built-up area (Ro. extravilan), an 80% tax applies to the sale of such land if it is sold before the expiry of 8 years from its purchase.

Former Vlasceanu, Nyerges & Partners Partner Mihaela Nyerges has established Nyerges & Partners in Romania, with the new firm opening for business on January 1, 2023.

A two-and-a-half-year deadlock impeding the sale of Romanian farmland located outside buildable areas and acquired less than eight years ago seems to have been finally cleared. On 2 February 2023 a much-awaited normative act came into effect, filling a series of legislative gaps and allowing public notaries to authenticate sale agreements for certain types of farmland located outside buildable areas.

Law 43/2023 on the introduction of a tax amnesty for tax liabilities, including interest and penalties for late payment, calculated by the tax authorities following the reclassification of income from gift vouchers obtained by individuals from persons other than employers, from the category of income from other sources to the category of salary income, was published in the Official Gazette no. 163 on 24 February 2023.

The EU support for renewables, fostered from the outset by climate change and environmental/health as well as energy independence concerns, has prompted across the years a booming renewable business. Then the war in Ukraine broke out and the ensuing energy crisis raised a structural question mark on how EU could best react to these challenges and what role would the renewables play in the process.

Cytowski & Partners and BPV Grigorescu Stefanica have advised Romanian tech company Veridion on its USD 6 million seed financing round led by Launchub Ventures with OTB Ventures and Underline Ventures together with existing investors Day One Capital and Gapminder VC. BPV Grigorescu Stefanica also advised Launchub, OTB, and the existing investors. Reportedly, solo practitioner Konstantina Chilingirova also advised Launchub, while Greenberg Traurig also advised OTB, and Sirbu & Vornicu advised Underline Ventures.

Following Order no. 3265/21453/2022, to which we drew your attention in early November 2022 here, the Minister of Research, Innovation and Digitization has approved the structure of the Body of Experts enrolled in the National Register of Experts for certification of research and development activity (REXCD).

A high degree of effervescence in the country, with massive legislative updates both taking hold and still in the works – as well as a potential Prime Minister rotation soon to come – is what keeps lawyers talking in Romania, according to Act Legal Romania Partner Laura Estrade.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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