Publication date: 16.04.2025
А highly qualified specialist who combines deep expertise in two strategically important areas: the cryptocurrency industry and international corporate law. In the field of blockchain technologies and cryptocurrencies, with over five years of practical experience, he specializes in issues of unlocking cryptocurrencies, cryptographic security, tokenization of business processes, and conducting investigations related to cryptocurrency transactions.
Initial data: Our client approached us with a request to acquire an operating IT company in Romania with a stable operational history since 2021. The client's key priority was to ensure a legally clean operational background to avoid legal risks, as well as prompt documentation transfer and full legal and accounting support after the acquisition. Since the client planned to actively develop the business within the EU, it was important to ensure the company's full compliance with Romanian standards and regulations.
CHALLENGES
- Finding a company with an appropriate operational history in a constantly evolving Romanian market, where it was necessary to find not only a legally clean company but also one with potential for further growth in both domestic and international markets.
- Preparing and transferring all legal rights and registration data of the company to the new owner, taking into account the requirements of Romanian law, which required careful attention to detail, especially in the context of limited capacity for quick changes.
- Preparing financial and accounting reports in accordance with the specifics of the IT business and Romanian standards, including the application of relevant tax benefits for IT and innovative companies, which required in-depth study and adaptation to local requirements.
- Opening a corporate account for the new owner and ensuring an effective online banking system that allows not only financial transactions but also interactions with international partners through electronic payment systems.
WHAT WE DID
Company search and selection
We conducted an in-depth analysis of the Romanian market, reviewed listings on specialized platforms, and contacted potential sellers to find a company that met all of the client’s requirements. The selected IT company had a stable operational history since 2021, was fully registered under applicable standards, and had existing infrastructure to conduct IT business. After negotiations with the company owner, we reached an agreement on the terms of sale, which included reduced tax risks and guaranteed legal clarity of the assets.
Legal support of the deal
After selecting the company, we conducted comprehensive legal due diligence, including analysis of its financial status, verification of intellectual property rights, and the presence of all necessary licenses. It was also essential to identify all contracts and obligations that could impact future business management. We prepared all necessary documents for the transfer of ownership and completed the re-registration of the company to the new owner. This included updating data in Romanian public registries and ensured compliance with local legislation.
Updating registration data
During the re-registration process, we organized and implemented the update of the company’s registration data, including changes to the legal address and other essential details to meet the requirements of Romanian registries. This ensured compliance with local laws and allowed for the successful submission of updates to all national registers in Romania. The client received all necessary documentation to confirm the legality and transparency of the business.
Opening a bank account
To support financial operations of the new company, we prepared the necessary documents for opening a new corporate bank account. We then set up an online banking system, enabling the client to efficiently manage finances, make payments, and receive income without complications. The account was also adapted to international standards to ensure seamless transactions with clients and partners abroad.
Organizing accounting support
We established an accounting system in accordance with Romanian legislation, considering the specifics of the IT sector. This allowed for proper financial reporting for tax authorities and ensured transparency of the company's financial operations. We also developed an internal control system for cost verification and optimization to guarantee financial stability at every stage of the company’s development.
RESULT
As a result of our work, the client received a fully functional IT company with an established infrastructure, ready for business operations in Romania. All required legal, financial, and organizational processes were completed without delays, and the client received full administrative support for smooth operation in the new market.
This project became a successful example of how a comprehensive approach to legal and business challenges ensures successful integration into a new market. The client now benefits from full legal clarity and support at every stage of doing business in Romania.
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