The objective of the Business transfer support program, hereinafter referred to as the Program is to ensure the continuity of the commercial ideas and commercial practices to maintain jobs and stimulate the economic activity. The Program will support all expenditures for the business transfer fees and charges (according to article 21 of Law no. 346/2004 on stimulating the incorporation and development of small and medium-size companies, as subsequently completed and modified).
To run this Program, the Department for Small and Medium-sized Business, the Business Environment and Tourism as well as the Territorial Offices for Small and Medium-sized Companies will collaborate with the National Trade Register Office through the Trade Register Offices nearby the Courts of Law for the database of the business transfers recorded in 2015. This procedure establishes a de minimis aid scheme, and the non-reimbursable financial allocations under this Program will be granted only in compliance with criteria on de minimis aid provided by the European Commission Regulation no. 1407/2013 on the application of articles 107 - 108 of the EC Treaty.
Budget of the funding program:
To be determined at the time of launching the funding program.
Within the Program, both the economic operators (small and medium companies as defined by Law no. 346/2004 on stimulating the establishment and development of small and medium companies, with the subsequent amendments and supplements) as well as commercial companies, cooperative societies, freelancers carrying out economic activities independently and professional associations or foundations can benefit from non-reimbursable financial allowances, provided that they cumulatively fulfill at the application date the following eligibility criteria:
a) to be legal persons (companies/cooperatives/associations/foundations) or freelancers performing economic activities independently/individual businesses/family businesses;
b) to have fully private share capital;
c) at least one month from their incorporation date;
d) they have no debts to the general consolidated budget and other local budgets both for their head/professional office and for all sites;
e) their net annual turnover is up to 50 million euro, equivalent into lei, or they own total assets not exceeding the equivalent of 43 million euro, equivalent into lei at the end of the previous fiscal year (total assets mean: intangible assets plus current assets plus expenses in advance);
f) they have an average annual number of employees lower than 250 in the previous fiscal year (except for individuals carrying out economic activities independently);
g) they have social/professional office, they are registered with the Trade Register Office and operate in Romania;
h) they are not in a state of dissolution, judicial reorganization, liquidation, insolvency, bankruptcy or temporary suspension of activity;
i) they have been given in 2015 the company and the goodwill, under section 7 of the “Transfer of small and medium companies" of Law no. 346/2004, as amended and supplemented, provided that they maintain the continuity of the company and its commercial activity.
Business transfer conditions:
(1) The transfer of small and medium companies is the convey by the proprietor of the business or goodwill in order to ensure the continued existence and commercial activity of the company, usually within the same family, free of charge; there are family members: the husband, wife and their children.
(2) The transfer of the business in the case of the individuals doing business independently takes place within the same family, based on affidavits (of the license holder and of the transferee) on business disposal free of charge during the lifetime of the authorization holder or based on the transferee’s statement in case of death of the authorization holder.
(3) As an exception, when the business cannot be transferred within the same family in order to ensure the continuity of economic activity, it is possible the transfer to third parties based on the affidavit of the authorization holder or its assignee (if applicable) and of the third party who will continue the economic activity authorized to be run independently.
(4) Facilities for the transfer of small and medium companies, provided by Law no. 346/2004 will be granted only once during a fiscal year.
Validity term of the funding program:
To be determined at the time of launching the funding program.
Eligible business sectors:
(1). No AFN is given within the Program for:
- fishery and aquaculture activities covered by the Council Regulation (EC) no. 104/2000;
- activities related to primary production of agricultural products, as listed in Annex. 1 to the Treaty establishing the European Community;
- activities of processing and marketing of agricultural products, as listed in Annex. 1 to the Treaty establishing the European Community, in the following circumstances:
a) when the amount of the aid is determined on the basis of the price or of the quantity of such products purchased from primary producers or put on the market by those business operators;
b) when the aid is conditional on being partly or entirely ceded to primary producers (farmers);
- export-related activities, namely aids directly linked to the exported quantities, to the establishment and operation of a distribution network or to other current expenditures linked to the export activity;
- aids for the use of domestic products over imported goods;
- economic agents operating in the coal sector, as defined in EC Regulation No. 1407/2002 on State aid for coal industry;
- aids for the purchase of merchandise road transport vehicles for economic operators whose business subject is supply of merchandise on-road transportation based on charges.
The IMM’s operating in the sectors/areas of financial intermediation and insurance, real estate transactions, gambling and betting, manufacturing or marketing of weapons, ammunition, explosives, tobacco, alcohol, energy products as defined under Law no. 571/2003 regarding the Fiscal Code, as amended and supplemented, substances under national control, plants, narcotics and psychotropic substances and preparations, rental and leasing activities, investigation and protection activities and activities excluded from the European rules, for which no de minimis aid can be granted in accordance with Regulation (EC) no. 1.407/2013 of the Commission of December 18, 2013 on the enforcement of articles 107 and 108 of the De minimis aid treaty published in the Official Journal of the European Union, Series L, no. 352 of the December 24, 2013 are not eligible to be selected in the Program.
The economic operators who have aggregately received as a single company during the last 3 consecutive years (2 previous fiscal years and the current fiscal year), de minimis aids (either from national public sources, either from community sources) totaling 200,000 euros, equivalent in lei (according to the Affidavit on state aids and de minimis aids - Annex no. 4 Section A hereto) cannot benefit from the AFN within the Program.
The economic operators who will exceed this threshold by summing up the AFNs granted within the Program with other de minimis aids received during the last 3 consecutive fiscal years may receive funding only up to 200,000 euros, equivalent in lei.
Through the Program, the commercial companies/cooperatives/individuals doing business independently are fully supported by non-reimbursable financial allowance to pay the following taxes and fees:
a) fees and charges for the operations of registering the changes made by the National Office of Trade Registry by the Trade Register Offices attached to Courts, for the registration of the transfer to the small or middle-sized company as well as the charges for the support services provided by the Trade Register Offices for the changes necessary to implement the transfer of the company;
b) charges for publishing in excerpt, in the Official Bulletin of Romania, Part IV, of the acknowledgement of modification as a result of the company transfer awarded by the delegated judge to the Trade Register Offices attached to Courts;
c) stamp duties for notary activity, related to the documents, where it is foreseen the obligation to draw them up in authentic form, necessary to operate the transfer of the company;
d) stamp duty for the free of charge assignment of the company, of the goodwill, to ensure the transfer of the small and middle-size company.
To benefit from the facilities the applicants must meet the following requirements:
a) the conditions for the transfer of small and medium-sized companies, by giving away free of charge the company and the goodwill within the same family or as appropriate the conditions for the transfer to third parties of the small and medium-sized companies;
b) to ensure the running of the business, by continuing the ideas and the business practices and and maintain jobs for a minimum of 3 years from the date of transfer;
c) to have had the company and the goodwill transferred to it during 2015, free of charge, under Section 7 - Transfer of small and medium-sized companies - Law 346/2004 regarding the stimulation of the incorporation and development of small and medium-sized companies as subsequently amended and supplemented, provided that the company's existence and business continuity are maintained.
Fore more information about the funding program, please go to: