Part IV

The establishment of family-owned businesses by individuals who are Romanian citizens is governed by the legislation governing the conduct of economic activities by individuals. This includes, as fundamental legal acts, the Constitution of Romania (which, following the 2003 revision, regulates the existence of “economic freedom”), Law No. 300/2004, and Government Decision No. 1766/2004.

To establish a family business, the relevant laws require the execution of a partnership agreement and the completion of an authorization and registration process. This reveals an administrative approach on the part of the Romanian legislature regarding the conduct of economic activities by individuals, which entails restrictions on the exercise of economic freedom.