Economic activity shall be intended profit-making activity, consisting in the production, administration or trade of goods or provision of services. Family enterprise shall be intended economic enterprise, without legal personality, organized by family members. The authorized natural person, the owner of the individual business and the representative of the family business will keep the accounting in single entry, according to the regulations regarding the organization and management of the accounting records in single entry by natural persons who have the capacity of taxpayer. The individual enterprise can have in its object of activity no more than 10 classes of activities provided by the CAEN code which is a classification of the types of activities authorized in Romania. The family enterprise is constituted by a constitution agreement, concluded by the family members in written form, as a condition of validity. The incorporation agreement will stipulate, under the penalty of nullity, the identification data of the family members and of their appointed representative, the conditions of participation, the percentage share of each member in benefits and losses, the relationships between the members of the family business, the withdrawal conditions and the date of drawing up.
Romania · 2016-10-17