Setting up a Limited Liability Company ONLINE

With the introduction of the new Portal for the National Trade Register Office, more and more operations could be performed online by people who wanted to obtain information about certain companies, to obtain confirmation of company details certificates or even submit applications to register an LLC or requests to register particulars. However, the online system has not gained as much popularity as the old physical system, at the counter, where petitioners must present themselves with a rail file and all the necessary documents numbered and provided “as original”. The main impediment for many people was the need to obtain a digital certificate (electronic signature), as the Portal for the National Trade Register Office requires that any document uploaded to the Portal, as well as the registration application, be electronically signed with an electronic signature.

Therefore, many people have started to turn to specialists in the field, who can submit registration applications particulars registrations in the name and on behalf of applicants based on a power of attorney provided by the latter. The establishment procedure is thus simplified, as the documents necessary for setting up an LLC are prepared by the specialist in the field, are sent to the applicant for signature, and then forwarded to the person in charge of submitting documents and who, of course, has access to a token that allows him/her to electronically sign documents.

In this case, the applicant has to make a simple trip to the notary / lawyer to obtain the documents necessary for the company set-up, respectively the statements given on his own responsibility and the signature specimen, which will also be electronically signed and uploaded to the portal. After all the documents are uploaded to the portal and the application is completed, the ONRC system generates an application, identical to the one that is physically completed at the counter. The latter is also electronically signed and uploaded to the Portal. Subsequently, the application is assigned a registration number and a settlement deadline.

If the application has no mentions and does not require additions, the establishment resolution, the unique registration certificate, as well as the ascertaining certificates will be sent via e-mail by the ONRC representatives. These documents will also be electronically signed by a representative of the Trade Register, signature through which their authenticity can be proven, thus replacing the original documents that can be continuously collected from the Trade Register headquarters.

The advantage of this online system is that applications can be submitted to any Trade Register Office in the country, regardless of the county, without incurring additional costs for the transmission of documents, as long as the documents do not have to be presented in the original format to the designated person, as they are electronically signed by the one responsible with the application, fact which certifies their authenticity.

In addition, more and more people choose to submit their application through the ONRC Portal and tend to digitise this process, given the pandemic situation that stopped and drastically reduced public relations in the previous year.

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