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Entités juridiques

Societate în Comandită pe Acțiuni - SCA

Rédacteur: Duma Cristian-Gabriel

Chapitre 1: Formation et Structure du Capital

  • Formation: Creating an SCA is done through It is established through a company agreement and bylaws. The constitutive act must contain:
    • Identification du fondateur et des partenaires limités si applicable.
    • Détails de la société: forme, nom et siège social.
    • Business purpose and main activity description.
    • Capital social (souscrit, libéré, et autorisé le cas échéant).
    • Contributions en nature, détails des contributeurs, et actions émises.
    • Nombre et valeur nominale des actions.
    • Type de société et restrictions sur le transfert des parts.
    • First board members or supervisory board details.
    • Administrator/director powers and joint/separate exercise.
    • Méthode de dissolution et de liquidation de la société.
  • Exigences de fonds propres: when it comes to its capital, it is considerably higher than its direct alternatives, standing at a minimum de90.000 lei (~ 18.000 eur).
    • Rules regarding capital subscription: the paid-up capital at the time of formation must not be less than 30%Le solde du capital souscrit est à libérer comme suit:
      • for shares issued in exchange for cash contributions, within 12 months from the company's registration date;
      • for shares issued in exchange for in-kind contributions, within a maximum of 2 years from the registration date.
  • Nombre minimum: comme le stipule la loi, il doit y avoir au moins 2 membres.

Chapitre 2: Structure

  • Le SCS est composé de:
    • General partners (actionarii comanditati):
      • responsabilité illimitée et solidaire pour les obligations de la société.
      • They can also serve as a manager and are responsible for the administration and management of the company.
        • La surveillance de la direction est assurée par auditeurs;
        • they cannot participate in the general meetings' deliberations for the election of auditors, even if they own shares in the company.
      • Ils peuvent détenir des parts, soit à la suite de souscriptions effectuées lors de la constitution de la société, soit par acquisition ultérieure de titres.
    • Asociaţii comanditari:
      • are liable only up to the amount of their invested capital in the company. These partners can be either individuals or legal entities.
      • Ils do not have the right to have their names included in the company's business name.
      • They do not have the right to perform administrative acts within the company.

Chapitre 3: Apport en capital

  • La contribution au capital social doit respecter les normes suivantes:
    • le capital souscrit au moment de la formation ne doit pas être inférieur à30%Le solde du capital souscrit est à libérer comme suit:
      • pour les actions émises en échange de argent contributions, within 12 months from the company's registration date;
      • for shares issued in exchange for in-kind contributions, within a maximum of 2 years from the registration date.
  • Note: les contributions sous forme de créances (dette) ne sont pas autorisées.

Chapitre 4 : Le nom de la compagnie

  • In this regard, the answer is given by article 35 of Law No. 26/1990, the name of a partnership limited by shares shall consist of a distinct designation to differentiate it from other companies and shall be accompanied by the full written mention "Societate în Comandită pe Acțiuni".

Chapitre 5: Registres obligatoires

  • Registre des actionnaires showing, as applicable, the names, personal identification numbers, names, domiciles, or registered offices of shareholders with nominative shares, as well as the contributions made to the share accounts. The record of shares traded on a regulated market/alternative trading system shall be maintained in accordance with the specific capital market legislation.
  • Registre des assemblées généra (es et des délibérations.
  • Registre des délibérations of directors, directorate, and supervisory board meetings and deliberations.
  • Registre des constatations et délibérations made by auditors and, as applicable, internal auditors, during the exercise of their mandates.
  • Registre des obligations, showing the total number of bonds issued and redeemed, as well as the names, personal identification numbers, names, domiciles, or registered offices of holders, when they are nominative. The record of dematerialized bonds traded on a regulated market or through an alternative trading system shall be maintained in accordance with the specific capital market legislation.
  • Registre de contrôle unique - to be obtained from the relevant Tax Administration.
  • Registre des dossiers fiscaux (if the company is subject to corporate income tax) - to be obtained from the relevant Tax Administration.
  • Dossiers des employés (REVISAL) - if the company has employees, this register is in electronic format, and the username and password are obtained from the County Labor Inspectorate where the company's registered office is located.

Conclusion : SARL

  • An SCA in Romania combines elements of limited liability and active management. General partners have unlimited liability and managerial roles, while limited partners enjoy limited liability without managerial involvement. SCA formation involves capital requirements, contribution rules, and specific naming conventions, with mandatory registers ensuring transparency and accountability. Understanding SCA intricacies is crucial for entrepreneurs and investors, as it offers flexibility and protection while conducting business in Romania.