Published
Sep 4, 2023
Updates:
Dec 24, 2024
Romania
Price:
Delivery:
Legal forms:
Payment methods:
3 months
LLC, SRL
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Romania
$
2000
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Location
Capital
Official languages
Population
Currency
ISO 4217
Bucharest
Romania
Romanian
19,892,812
RON
Romanian Leu
Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
-
Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Romania
Q: What types of companies can be formed in Romania?
A: Romania allows for the formation of various types of companies, including limited liability companies, joint stock companies, partnerships, and branch offices.
Q: What is the process for forming a company in Romania?
A: The process for forming a company in Romania involves obtaining a unique company identifier, registering the company with the Trade Register Office, obtaining necessary permits and approvals from relevant authorities, and obtaining a tax identification number.
Q: Is there a minimum share capital requirement to form a company in Romania?
A: Yes, there is a minimum share capital requirement to form a limited liability company or a joint stock company in Romania. The minimum share capital for a limited liability company is RON 200, while the minimum share capital for a joint stock company is RON 90,000.
Q: Do I need to have a physical office in Romania to form a company?
A: Yes, companies in Romania are required to have a physical office in the country. The office can be a commercial office or a virtual office, but it must be located within Romania.
Q: What are the tax implications of forming a company in Romania?
A: Companies in Romania are subject to corporate income tax, which is currently set at a flat rate of 16%. Additionally, companies are required to pay value-added tax (VAT) on goods and services sold in Romania.
Q: How long does it take to form a company in Romania?
A: The time required to form a company in Romania can vary depending on the complexity of the registration process and the availability of local resources. In general, it takes approximately 1-2 weeks to complete the company formation process in Romania.
Q: What are the ongoing compliance requirements for companies in Romania?
A: Companies in Romania are required to comply with various ongoing compliance requirements, such as maintaining accurate financial records, filing annual financial statements, and submitting tax returns.
Q: Can a foreigner form a company in Romania?
A: Yes, foreigners are allowed to form companies in Romania. However, certain industries may be restricted to Romanian nationals or require a certain percentage of Romanian ownership. Additionally, foreign investors may be required to have a local partner or sponsor to form a company in Romania.
"Romania has seen a steady increase in its economy over the past few years. According to the World Bank, Romania's GDP grew by 4.1% in 2019, making it one of the fastest growing economies in the European Union. The country's unemployment rate has also decreased significantly, dropping from 8.2% in 2018 to 6.2% in 2019. Inflation has also been kept in check, with the average inflation rate in 2019 being 3.2%.
The country has also seen a rise in foreign direct investment, with the total amount of FDI reaching $7.3 billion in 2019. This is a significant increase from the $4.7 billion in 2018. Romania has also seen an increase in exports, with exports reaching $77.3 billion in 2019, up from $71.2 billion in 2018.
Overall, Romania's economy has been on an upward trajectory in recent years, with strong growth and low inflation. The country has also seen an increase in foreign investment and exports, which is helping to drive the economy forward."
In Romania, both individuals and companies are subject to income tax.
For individuals, income tax rates are progressive and range from 10% to 45%. Income tax is calculated on a monthly basis and is withheld by the employer from the employee's salary. Individuals are also subject to social security contributions, which are paid by both the employer and the employee.
For companies, the standard corporate income tax rate is 16%. Certain companies, such as those in the IT sector, may be eligible for a reduced tax rate of 3% or 5%. Additionally, companies are subject to social security contributions on behalf of their employees.
Tax payments are typically made on a quarterly basis. The deadline for payment of quarterly taxes is the 25th of the month following the end of the quarter. For annual income tax, the deadline for payment is generally the 15th of March of the following year. Companies must also submit an annual tax return by the same deadline. Late payments are subject to interest and penalties.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
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