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Romania > Law firm and leading lawyer rankings

Editorial

Legal market overview

A major development in Romania?s political landscape was the removal of Prime Minister Sorin Grindeanu from power in the wake of a controversial ordinance bill passed in January 2017, which was viewed by many as aiming to decriminalise low-level government corruption. Following public protests and a vote of no confidence, Grindeanu?s premiership was terminated and his former Minister of Economy, Mihai Tudose, became Prime Minister in June 2017 ? only to resign seven months later. At the time of writing, Viorica Dăncilă is Prime Minister, making her the first woman to hold the post.

Anti-corruption measures remain a key concern and August 2017 saw the introduction of a new split payment mechanism for VAT and alterations to the tax code as a means of tackling tax evasion. Nonetheless Romania?s economy continues to thrive, with the M&A and real estate markets key areas of activity for many firms.

This combination of political, legal and economic developments contributes to the sophisticated and highly competitive nature of the legal market. Bucharest remains the locus of the most important legal work; strong practices outside the capital remain scarce despite the economic and social presence of other cities such as Cluj-Napoca and Timișoara.

The Romanian currency is the leu (pluralised as lei), denoted throughout as RON (Romanian New Leu).

 

Doing business in Romania

Contributed by PeliFilip

With a robust GDP growth of 3.6% in 2015 and a forecast of 4.2% for 2016, Romania is well on its way as one of the fastest-growing economies in the EU.

In doing so, Romania relies on more than its traditional advantages, such as being the largest market in south-eastern Europe and second largest in the CEE region, at the crossroads of the major routes linking Europe, the Middle East and the Commonwealth of Independent States trade routes, rich in natural resources, and having a well-skilled and relatively inexpensive work force.

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Legal market overview

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Legal Developments in Romania

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Press Releases in Romania

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to