LAWS TO WATCH: Legislation package on Company Business Operations
The government proposed the legislation package that includes the Companies Act, Court Register Act, Court Fees Act and Notary Fees Act.
According to proposed amendments, the length of the liquidation procedure for a company is reduced from 450 to 250 days. The cost of liquidation for a simple limited liability company (i.e. j.d.o.o.) is reduced by 90% to €79, while the cost of liquidation of a limited liability company (i.e. d.o.o.) is reduced by 70% to €330, if the establishment share capital is €2,600.
The legislation retracts a company’s obligation to publish their management changes (e.g. general assembly notifications, equity changes, etc.) in the Official Gazette; these notifications cost the company €210 per notification. The announcement will heretofore be posted on the court registry website costing €13.
Proposed by: Ministry of Justice
Note: The legislation was sent to the Sabor urgent procedure