Digital Due Diligence (DD) and Pre-DD performed on 1700 hectares agricultural land and a farm by PBS in Romania

After selling large plots of agricultural land during 2003-2007 we shifted from sales to due diligence and used our expertise to evaluate farms and agricultural land in Romania. Since then we performed a due diligence almost every year in a classical way. We also used our expertise for share deals with factories that were bought by investors as we active in Romania since 2003.

The DD was always done with a classical approach: we go on-site during 7-10 days. After this we write our report and conclusions and provide the investor (buyer) with a printed report and attachments. On average we produce around 10-20 cm of paperwork nicely printed and presented as the main report and conclusions with corresponding attachments. The duration of the works is around 2 to 3 weeks.

“Due to the COVID19 we had to re-think our business model and we started to work from a distance as per October 2020.”

The first digital DD case was a farm with 1700 hectares of land in ownership in Romania.

How does it work ?

• We start with an NDA and a mandate from the investor (buyer) that is interested in the share deal.
• We build the initial frame that we will use for a structural approach of the DD.
• We start to ask questions to the seller and the seller opens a data room.
• The seller is giving a reply to the questions that we ask and he puts the answers in his shared data room as task 1, task 2, task 3, …
• We open a separate data room for the buyer and insert the tasks from the data room of the seller into the structure that we defined.
• As we build the data room for the buyer we start to write the report per topic according to the structure that we created. We refer to the data room as proof for each topic. The buyer can follow the progress online as the report and the corresponding proofs are available in the data room.
• We have skype conferences every 5 days in order to explain the findings and progress and with the seller and separately with the buyer.
•  After 10-15 days we start to structure the report and structure in the data room of the buyer and adapt the structure if needed because of extra points for investigation found during the DD.
• After maximum 21 days, the final report and final data room are ready.
• We have the final skype with the buyer and the buyer can decide on the future steps to acquire the shares of the targeted company.
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What are the advantages of a digital Due Diligence ?

1.     We do not have to travel to Romania

2.     We can work more accurate as we do not lose time on site with the seller

3.     We write better reports and we can go into more detail

4.     In general, it is much faster compared to the classical method that we used before

Example of some of the topics handled.

1.     Register of commerce and monitor of Romania

2.     Organizational chart

3.     Employees

4.     FinData

5.     Own Equity

6.     Shareholder loans

7.     Bancary loans

8.     VAT & Taxes

9.     Buildings

10. Land for agriculture

11. APIA

12. Irrigation plan and irrigation

13. Depreciation of all assets

14. Commercial contracts clients & suppliers

15. Law cases

16. Organic farming

17. Permits

18. Subvention files

19. Observations accountancy

20. Fusions

21. General conclusions

More info mail frjacobs@telenet.be

Read more: http://www.pbsworldwide.com/

Payroll and HR services in Romania 14 years of experience

 We provide Payroll and  HR  services for over 14 years on the Romanian market and internationally.

Ensure a better administration of your employee documents and payrolls in Romania! We are ready to take over the administrative burden, by offering you the following services and online solutions:

 

• Data collection and payroll
• Full-range HR administrative support
• Statutory and management reporting
• Hotline services to all employees and HR
• Management of the employee personnel files
• Newcomers and leavers reports
• Issue of HR documents for employees
• Drafting policies, internal regulations and Collective Labour agreements
• REVISAL registration of all labour documentation
• Labour law and personal income tax advisory
• Health insurance and social security advisory
• Global mobility strategy and advisory (expatriate services)
• Support during different authorities audits
• Labour law consultancy
• Work and residency permits
• Immigration advisory services
• Representation in front of local statutory authorities
• Preparation and administration of the employees data base, organizational structure and job classification
• Administration of labor agreements.

 

Due to the fact that people are the most important component of an organization, our services include payroll management and activity mobilization in the sight of an efficient professional and individual development, and this is the most important reason to work with us.

more info mail frjacobs@telenet.be 

Read more: http://www.pbsworldwide.com/

Why You Should Use Our Business Center in Romania

 WHO WE ARE?

We are  the first independent business center  in Buzau, Romania,  which shortens the route between office-seekers for their business in Romania. It facilitates the office renting process with cost-effectiveness, brings office market transparency and helps you in the process of incorporation of your company in Romania.

It all started with a building to be rented, not located in the best location, during the economic crisis. Then we have a building, the first one dedicated exclusively to office, independent from any real estate agents, where the offices will be presented at their best to meet future tenant’s requirements.

 PHILOSOPHY

When it comes to running a business, you have multiple ways and places to set up your business.

You have one other option, though; one without all the drawbacks. That option is to rent an office in a business center or shared business space. This type of setup offers a lot of great benefits that are perfect for business owners of all types and with various budgets. 

To begin with, one nice thing about using a business center is that most have shared or common areas that anyone who rents a space is able to use.

These might include reception areas, meeting rooms, and more. Not only are these great places for networking and meeting others who could prove to be good contacts, but they serve as an easy, professional, and safe way to meet with clients and potential clients.

Space, where you can readily hold business meetings, helps your business look more professional. Plus, the use of these shared areas is usually free of charge with your rental of office space.

BENEFIT FROM PRIME LOCATION 

Most business centers are located in prime areas, such as bustling downtown areas, business districts, or simply locations that are easy for people to reach.

If you buy or rent an entire business building in a prime area, you usually have to pay a small fortune. Our business center, however, offers you a much more affordable way to get some prime office space for less monthly rate in a village area.

OFFSET EQUIPMENT COSTS

When you choose to rent office space in a business center, some of your necessary equipment may be provided to you.

Filing cabinets, desks, and the like typically come standard with your rental as well, free.

 

SECRETARY/ADMINISTRATION  SERVICES

Another thing to appreciate about our business center is that, with most, you'll get all of the benefits of having a receptionist without having to go out and hire one yourself.

You'll have someone who can direct calls to your office, or who can screen your calls for you if needed, collect your post etc.  You'll also have someone to let people know how to find you and your office. This service is important, and because you don’t have to pay for it, it’s a major benefit of utilizing a business center. Their services are various, including human resources services, license, bilingual drafting of documents, contracts and more other.

This services are offered separately by contract for a small monthly rate.

Contact frjacobs@telenet.be

Read more: http://www.pbsworldwide.com/

 

Opening a transport company in Romania

If you want to start your own business you can open a freight company. In fact, due to e-commerce, the volume of transported goods has increased and, consequently, the spaces for new companies on the market.

Undoubtedly, those who work in this field must have extensive knowledge about this sector in order to act effectively and to offer customers advantageous solutions. However, knowledge is not the only requirement that must be met, especially for the law in force. In fact, those who want to open a freight transport company must submit an application for a transport license from the Romanian Road Authority. Our company will obtain a transport license and compliant copies for you!

Of course, these obligations are in addition to those of the normal bureaucracy in business. In order to open a freight company, you must submit the documents for setting up the company to the National Office of the Trade Register and request the assignment of the VAT number to the local tax agency. We will assist you in obtaining them!

At this stage it is advisable to use the services of our company in order to have you with the establishment of the company and with obtaining the necessary approvals to carry out your activity in accordance with the law. Once the bureaucratic procedures have been completed, the company can start its activity.

We must not forget that if you have more means of transport, you need something personal. You need to hire professional drivers, as well as employees to deal with the logistics sector and the commercial part. You need collaborators, because you can't take care of everything yourself. You better focus on the management activities offered by our company and staff coordination, so you will always have in mind the current situation of the company and you will be able to make the best decisions.

It is also essential, as required by law, to conclude employment contracts for employees and, at the same time, to pay social security contributions. The staff must have an optimal size for the number of trucks and the size of the company, because the speed of handling the goods and their delivery becomes very important for customer satisfaction.

Leave in our care the establishment of the company, obtaining licenses, recruiting drivers and concluding employment contracts, and you focus directly on transportation!

mail frjacobs@telenet.be for more details

Read more: http://www.pbsworldwide.com/

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GREENFIELD INVESTMENT IN ROMANIA

GREENFIELD INVESTMENT IN ROMANIA

Developing countries tend to attract prospective companies with offers of tax breaks, or they could receive subsidies or other incentives to set up a green-field investment. While these concessions may result in lower corporate tax revenues for the foreign community in the short run, the economic benefits and the enhancement of local human capital can deliver positive returns for the host nation over the long term.

We can help you as a parent company to  creates a new operation in Romania from the ground up.

In recent years the Romanian market has become increasingly interesting for companies that are relocating. Firms seeks to build service centers or production plants on a market directly connected to Western Europe, which possesses highly skilled and affordable workforce. We assist companies in the first steps of activity and we build long-term partnerships that consistently improve our partners’ performance. On matters on which we lack competence we always recommend the best.

We can help you with:

• An analysis of the local markets and the locations considered;
• Advice on forming the core team;
• Recruitment of core team members;
• Core team coaching;
• Specialized legal advice;
• Company creation;
• Obtaining the necessary permits;
• You will focus exclusively on business decisions;
• You build a healthy and stable grounds for your investment;
• You have access to a network of potential partners;
• You receive access to specialized managerial know-how;
• You limit your investment risks.

Mail: freddy.jacobs@pbsworldwide.com

We are a team of specialists in the field of strategic management. In our relationships with our partners we act in their interest offering them the support to become a better version of themselves. Assuming they are committed to change, we want, we know, we can and we will make them act, as companies or individuals, at their maximum potential.

Read more: http://www.pbsworldwide.com/

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Establishment of a Romanian company

Starting a company does not guarantee that your business idea will be a success and does not mean that once you set up your company you became a true entrepreneur; it is a necessary but not a sufficient condition. On the other hand, it is good to know that when you have a company you will have more responsibility: documents, accounting, all kinds of authorizations, controls, reports, but also advantages.

In Romania, the business bureaucracy can often be cumbersome but without a legally established company you cannot do much. In addition, setting up a company also means a number of responsibilities. So, let's see how you go about setting up your business and what you should do.

Let's establish the details together, and let's get started!

The establishment of a company starts with a road to the Trade Register to reserve the company name. Prior request to all operations at the Trade Register. The most commonly used types of companies are SRL (Limited Liability Company).

We will write them for you!

For the establishment services the company offers:

• Name reservation for SRL;
• Detailed consultancy regarding the necessary documents and the steps of setting up the company;
• Technical writing: constitutive document, documents for the use of headquarters and work points, declarations and requests;
• We establish together the CAEN codes for the activities carried out;
• We deal with the completion of the necessary declarations;
• Authorization of activities at headquarters, work points and third parties (at ONRC);
• Information on future obligations;
• ONRC fees and representation;
• Preparation of the file and submission to ONRC;
• Hosting services;

The share capital for SRL is 200 lei; Once they are deposited with the bank and the company is set up, the money can be withdrawn from the share capital account and used.

Depending on the bank you choose, you need certain documents for opening a share capital account.

Thus, not only will you have the company registered in a timely manner but you will be able to be sure of the correctness of the documents from a legal point of view. We have an experience that guarantees a simple and fast procedure, without headaches.

More info mail: frjacobs@telenet.be 

Read more: http://www.pbsworldwide.com/