SA and other company forms

1The joint-stock company (SA)

• It has at least 2 shareholders.
• The minimum share capital is 90,000 lei.
• It can be run by a sole director or a board of directors, or under a two-tier system: a management board and a supervisory board.
• The financial statements are checked by statutory auditors or by a financial auditor, as applicable.
• It suits large projects with many investors.

2The general partnership (SNC)

The partners have unlimited joint liability for the company's debts, meaning also with their personal assets. It is rarely chosen, usually by partners who fully trust each other.

3The limited partnership (SCS)

It has two categories of partners. The general partners run the company and have unlimited liability. The limited partners bring capital and are only liable up to their contribution.

4Secondary offices

• Branch: part of the company, without legal personality, with its own activity in another town.
• Subsidiary: a separate company, with legal personality, controlled by the parent company.
• Place of business: a place where the company carries out its activity, outside the registered office.

5What we decide together

• The shareholders or partners and how much each holds
• The sole director or the board of directors
• The statutory auditors or the financial auditor, where the law requires them
• The registered office and any secondary offices