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Company formation in Romania
Comprehensive assistance in company formation, including banking services
How to form a company in Romania
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Romania and opening a bank account in Romania
2
Payment of services
Payment of our services for company formation in Romania and/or bank account assistance in Romania
3
Company formation
We register a new company in Albania for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to incorporating a company in Romania
Minimum share capital requirement for a SRL (a limited liability company) is just RON 1.
1. Founders that would like to register a company in Romania can either be resident or non-resident in Romania. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a company director in Romania. It is not required to register a company in Romania with a resident individual as one of its shareholders or directors.
3. One individual can register a company in Romania and simultaneously be a shareholder and a director in this company if such company is registered as a SRL (a limited liability company).
4. There is no requirement for creating substance in Romania - no need to hire local employees or rent an office in order to establish a company in Romania or to conduct business in Romania.
5. Minimum share capital that is required to register a company in Romania as a SRL (a limited liability company) is RON 1.
6. Information about company founders, shareholders and directors after company registration in Romania is complete is publicly available in the state corporate register.
7. We can help you register a company in Romania remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Bucharest for 1 day in order to open a corporate bank account.
2. A resident or a non-resident individual can be a company director in Romania. It is not required to register a company in Romania with a resident individual as one of its shareholders or directors.
3. One individual can register a company in Romania and simultaneously be a shareholder and a director in this company if such company is registered as a SRL (a limited liability company).
4. There is no requirement for creating substance in Romania - no need to hire local employees or rent an office in order to establish a company in Romania or to conduct business in Romania.
5. Minimum share capital that is required to register a company in Romania as a SRL (a limited liability company) is RON 1.
6. Information about company founders, shareholders and directors after company registration in Romania is complete is publicly available in the state corporate register.
7. We can help you register a company in Romania remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Bucharest for 1 day in order to open a corporate bank account.
Cost of services
Formation of a SRL
Timeframe - 12 business days
Timeframe - 12 business days
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Advantages of forming a company in Romania
Attractive business-environment
- Access to major EU markets
- Access to the Black Sea allows to establish a maritime trade with EU states, Turkey, Middle Eastern and North African states
- Highly-qualified workforce
- Open economy
- Well-developed infrastructure
Stability and security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax benefits
- Corporate income tax rate is 1% or 3% for microenterprises (annual income less than EUR 1 million)
- Corporate income tax incentive for R&D
- Corporate income tax incentive for companies administering industrial parks
- VAT incentive for companies established in free trade zones
- Multiple double tax treaties
No foreign exchange controls
- Romania state regulations do not impose foreign exchange controls. Individuals and business-entities, either resident or non-resident in Romania may open bank accounts in local banks in any currency
Ease of establishing and doing business
- Minimum share capital requirement for a SRL (a limited liability company) is just RON 1
- 100% foreign ownership of a company is available
More about Romania
Romania is located at the crossroads of Central, Eastern and Southeastern Europe and has a territory of 238,397 square kilometers. Romania borders Bulgaria, Hungary, Moldova, Serbia and Ukraine. Romania has access to the Black Sea. The capital city of Romania is Bucharest, the largest city and the location of key government institutions.
Romania has a population of 19 million people.
Romania has a population of 19 million people.
Official currency of Romania is Romanian leu (RON).
Romania has a high-income economy with a skilled workforce. Romania is the largest electronics producer in the region. In the past 20 years Romania has also grown into a major center for mobile technology, information security, and hardware research. Romania is also a regional leader in IT and motor vehicle production. Bucharest is one of the leading financial and industrials centers in Eastern Europe.
The GDP of Romania grew by 5.1% in 2021 and amounted to USD 284 billion. Tertiary sector makes up 58.2% of the GDP of the country, followed by industry sector at 27.78%, agriculture at just 4.35%.
In terms of foreign trade the largest exports of the country are vehicles, vehicle parts, machinery, chemical goods, electronic products, electrical equipment, pharmaceuticals, transport equipment, basic metals, food products, rubber and plastics, petroleum oils, air or vacuum pumps, maize.
Imports of Romania consist of energy, petroleum oils, natural gas, cars and vehicles, electric equipment, consumer goods, insulated wire.
Primary trading partners of Romania are Italy, France, Bulgaria, Germany, Hungary, Poland, Netherlands, United Kingdom, China, Czech Republic, Turkey and Austria.
Romania has a high-income economy with a skilled workforce. Romania is the largest electronics producer in the region. In the past 20 years Romania has also grown into a major center for mobile technology, information security, and hardware research. Romania is also a regional leader in IT and motor vehicle production. Bucharest is one of the leading financial and industrials centers in Eastern Europe.
The GDP of Romania grew by 5.1% in 2021 and amounted to USD 284 billion. Tertiary sector makes up 58.2% of the GDP of the country, followed by industry sector at 27.78%, agriculture at just 4.35%.
In terms of foreign trade the largest exports of the country are vehicles, vehicle parts, machinery, chemical goods, electronic products, electrical equipment, pharmaceuticals, transport equipment, basic metals, food products, rubber and plastics, petroleum oils, air or vacuum pumps, maize.
Imports of Romania consist of energy, petroleum oils, natural gas, cars and vehicles, electric equipment, consumer goods, insulated wire.
Primary trading partners of Romania are Italy, France, Bulgaria, Germany, Hungary, Poland, Netherlands, United Kingdom, China, Czech Republic, Turkey and Austria.
International business expands to Romania and incorporates a company in Romania primarily for:
Restricted for foreign entrepreneurs are the following sectors:
- energy
- logistics
- wholesale and retail trade
- electronics
- industrial production
- automotive industry
- IT
- agriculture
- construction.
Restricted for foreign entrepreneurs are the following sectors:
- defense industry
- telecommunications
- television, radio
- postal services
- air transport.
- Corporate income tax - 16%. Corporate income tax rates for microenterprises (whose annual income does not exceed EUR 1 million) is 1% if the company has employees or 3% if it does not. Tax returns are filed on a quarterly basis. Advance income tax payments are made on a quarterly basis
- Dividend withholding tax - Standard tax rate 5%
- Interest withholding tax - Standard tax rate 16%
- Royalties withholding tax - Standard tax rate 16%
- Capital gains tax - 16%
- VAT - Standard tax rate 19% or reduced rates from 0% up to 9%. Tax returns are filed on a monthly, a quarterly, a biannual or an annual basis
- Personal income tax - 10%.
Apart from such traditional business entity types as a limited liability company (Societate cu răspundere limitată - SRL) and a public limited company (Societatea pe acțiuni - SA) corporate law in Romania offers to establish a business as:
1. General partnership (Societatea în nume colectiv - SNC)
2. Limited partnership (Societatea în comandită simplă - SCS)
3. Partnership limited by shares (Societate în comandită pe acţiuni - SCA)
4. European company (Societas Europaea)
5. Branch office (Sucursală)
To receive a detailed description of the company formation procedure in Romania and information about documents necessary for company formation in Romania please contact our experts.
1. General partnership (Societatea în nume colectiv - SNC)
2. Limited partnership (Societatea în comandită simplă - SCS)
3. Partnership limited by shares (Societate în comandită pe acţiuni - SCA)
4. European company (Societas Europaea)
5. Branch office (Sucursală)
To receive a detailed description of the company formation procedure in Romania and information about documents necessary for company formation in Romania please contact our experts.
Send a request for company formation in Romania
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London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
