OFFICIAL GAZETTE 103/09.02 - GEO no. 1080/2011 dated on 02/02/2011 for stimulating the set-up and development of micro-enterprises by young entrepreneurs
The young entrepreneur, hereunder named debutant entrepreneur can benefit from the facilities stipulated under the present GEO, this entrepreneur being an individual of full age who meets cumulatively the following conditions:
- he/she has full legal capacity, is aged no more than 35 years, fulfilled by the latest the day of application for registration of limited liability company with the Trade Registry;
- prior to the date of registration of the company with the Trade Registry has never owned and does not have the quality shareholder, partner or member of the management authorities of an entity established in the European Economic Area;
- establishes for the first time a limited liability company under Law no. 31/1990;
- fills in a statement on his/her own responsibility, under penalty of criminal law, that he/she meets the conditions stipulated under point 2 that is submitted with the trade registry along with the request for registration of the company.
If at the date of registration of the request for registration of the limited liability company with the Registry of Commerce the condition related to the age condition is met, this condition shall be considered as fulfilled throughout the period of granting of facilities.
The micro-enterprise owned by the debutant entrepreneur is being granted the following facilities:
- granting of a non-reimbursable financial allowance representing no more than 50%, but not more than 10,000 euros or the equivalent in lei, out of the value for the business plan project, for which he/she proves the existence of co-financing sources;
- guarantees provided by the National Credit Guarantee Fund for Small and Medium Enterprises – SA – IFN for loans obtained by the beneficiaries in order to complete the approved business plans, amounting to no more than 80% of the requested loan, in the limit of 80,000 Euro or its equivalent in lei;
- exemption from the payment of social security contributions due by employers, according to the law, for incomes related to time worked by not more than 4 employees, employed for non-determined period of time. This period is deemed period of contribution in the public pension system and for determining and calculating the rights provided by Law no. 263/2010 on the unitary system of public pensions, as amended and supplemented, shall be used the average monthly gross salary for which the insured individual pays individual social security contributions. For each employee, the exemption shall not apply to monthly salary incomes which exceed the average gross salary of the previous year;
- exemption from the payment of the registration operations performed at the Trade Registry Offices for the registration of micro-enterprises;
- advice, training and support from the AIPPIMM and OTIMMC in whose jurisdiction the jurisdiction the entrepreneur has its registered office.
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