Limited Liability Companies in Moldova to operate in accordance with new legal framework

Chisinau, April 20 /MOLDPRES/- Limited Liability Companies /SRL/ in Moldova will operate in accordance with a new legal framework. Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitalization announced today the launch of the reform of SRLs.

During a press conference, the official said that the government's priority is the economic development of the country and providing new opportunities for entrepreneurs. ""We have an ambitious agenda for reducing bureaucracy. We want entrepreneurs to have more freedom in growing their businesses. The reform of SRLs provides for the modernization of legislation and the transposition of the best European practices, the existence of more flexible ways of running businesses and reducing legislative prohibitions", said Dumitru Alaiba.

The official said that the legislative changes will bring more rights to the associates in the business - partners and will provide flexibility in dividing the profit between the founders.

Also, the investor will be able to request from the State Registry an expanded extract of the SRL. The extract is registered at the company's request. The State Register will represent the main source of official information. "It is a long reform, but we are sure that it will have positive effects, and businesses in the Republic of Moldova will have the same opportunities as businesses in other countries," he said.

The legislative amendment project will be subject to public consultations and approved by the state institutions. The document is to be approved by the Government and the Parliament by the end of the current legislative session.