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Setting up a Company by Shares

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The setting up of a company by shares Joint stock company

A joint stock company is a company whose stock is owned jointly by a large number of shareholders who are unacquainted with each other. A joint stock company is a form of partnership where each member is financially responsible for the acts of the company. Each shareholder owns a part of the company in proportion to his ownership of the company’s shares. This allows the unequal ownership of a business where some shareholders own a larger proportion of the company than others.
The setting up of a Joint Stock Company involves some requirements. There is a minimum number of two shareholders, there has to be a Supervisory Board formed of at least three censors , at least one must be a certified accountant , appointed for a period of three years. Also, if there is more than one director a Board of Directors must be constituted.
The shareholders holders of the Romanian joint-stock company can be either natural or legal persons. The minimum number of shareholders is two. For the Joint Stock Company the minimum share capital cannot be below 90,000 RON the equivalent of at least 25,000 Euro and is divided into shares having a minimum value of 0.1 RON. The amount of the minimum share capital may be modified by the Government so as to represent the equivalent of 25,000 Euro.
The founders must subscribe to the entire social capital of the company and must pay at least 30% of its value, the rest of to 70% having to be paid
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