The UBO statement, by which the companies must indicate their ultimate beneficial owner(s), must be submitted latest on the 30th of September 2021, according to the GEO no. 43/ 2021.
According to the Law no. 129/2019, companies are obliged to submit the UBO statement in the following cases:
- on incorporation of a new company;
- annually, within 15 days after approval of the financial situations (in 2021 postponed until 1st of October);
- within 15 days of a modification of the company’s UBO(s) takes place.
To further support the business environment, the declaration can be signed under private or electronic signature, be given in front of a representative of the trade registry, have a date confirmed by the notary public or be certified by the lawyer. It may be transmitted to the trade registry offices by electronic means, by postal and courier services or it may be submitted in person.
Given the facilities offered by the authorities, we recommend the form under private signature or with electronic signature and its transmission the trade registry offices by e-mail.
Failure to submit the declaration within the legal term is sanctioned with a fine from 5,000.– RON to 10,000.– RON. If within 30 days from the date of application of the contravention sanction, the company’s administrator has not submitted the declaration regarding the identification data of the real beneficiary, at the request of the National Office of the Trade Register, the company may be dissolved.
The template of the statement issued by the National Trade Register Office can be downloaded from the link below: