Romania Company Formation
- European jurisdiction with respected reputation. It is the seventh most populous member of the European Union.
- Time of Romania Limited Liability company formation takes 1-2 WEEKS.
- Personal presence is not required.
- Popular company type:
- Romaniaa Limited Liability Company – Societate cu Raspundere Limitata (SRL)
Tax Rates in Romania
Corporation Tax in Romania: 16% which can be reduced to as low as 1% for small companies.
Income Tax in Romania: around 10% However, there are certain exceptions from this rule (e.g. the tax rate for dividends, the tax rate for income from the transfer of immovable property, the tax rate for income from gambling activities depends on the income level).
VAT Tax in Romania: 19%; 5% and 9% reduced rates.
About Romania
Country: Romania
Capital: Bucharest
Continent: Southeastern Europe
Language: Romanian is the official and main language of Romania and the Republic of Moldova.
Currency: The Romanian leu (RON)
Time Zones: GMT +2
Dial Code: +40
Abbreviations: RO
What we can do for your Company in Romania
- We do all paperwork on forming the company in Romania
- Formation is completely remote
- Can act as Secretary or Treasury
- Provide nominee Directors/Shareholders
- Assist with opening a bank account
- Registration for Taxes, VAT & EORI
- Develop a website for your business
- Create a logo of your brand
- Provide with full company administration services
- Arrange a mailing address for your business
- Arrange a virtual office for your company
- Telephone answering service
- Book keeping, audit & reporting
- Preparing and submitting VAT return
- Dealing with local authority
- Trademark registration
Romania Company Formation. Limited Liability Company Registration
Main Characteristics and the basic rules of Company registration in Romania
Romania is located in Southeast and Central Europe, on the Black Sea, between Bulgaria and Ukraine. It also borders Hungary, Serbia and Moldova. It is the seventh most populous member of the European Union. Its capital and largest city is Bucharest, the sixth largest city in the EU.
Romania is one of the most promising places in Europe for investors looking to start a new company. The most common type of company in Romania is the limited liability company – Societate cu Raspundere Limitata (SRL). This type of business can be easily opened in Romania. This type of company is a legal entity that is separate from the individuals who run it.
Romania is increasingly able to attract foreign investment due to its strong economy, membership in the European Union and favorable legislation. That is why Romania has become a good place to start a business on land.
Romania is a full member of the EU and is currently one of the most promising locations in Europe for investors looking to set up a new company.
In order to set up a company in Romania, you first need to choose the type of business form, to prepare the file and to submit the application at the Trade Register. Note that the most common forms of business in Romania are the Limited Liability Company along with the Joint Stock Company and Branches.
| Romania Company Formation | Financial Advantages |
|---|---|
| Taxation: | 16% Corporate Tax |
| Double Taxation Treaty Access: | Yes, Romania has tax treaties with other countries to foster cooperation between Romania and other international tax authorities. Has total of 53 Treaty Access. |
| Romania Tax Information Exchange Agreements: | Yes, Romania signs Exchange Agreements |
| Account Filing Requirements: | Yes accounting and reporting requirements |
| Annual Return Filing Requirements: | No annual return/ reporting requirements. |
| Audit Requirements: | Yes audit required. |
| Romania Company Formation | Registration Requirements |
|---|---|
| Share Capital: | There is no maximum limit for the share capital, only a minimum (which is 1 RON). Minimum paid up share capital: 1 RON. |
| Classes of Share Available for Bulgaria company formation: | Registered shares and shares of no par value. |
| Bearer Shares: | Bearer shares are not permitted for a LLC to issue |
| Registered Office Required: | Yes, required and must be maintained in Romania. |
| Shareholders: | Minimum number is one |
| Directors: | Minimum number is one. Can be any nationality and need not be resident in Romania. Corporate directors are allowed. |
| Your Company language: | English |
| Name of your Company must be ended: | “LLC”, “L.L.C.”, or “Limited Liability Company” |
| Documents required for Bulgaria company formation: | A certified copy of your passport or ID and proof of your residential address dated less than 3 months. |
| Romania Company Formation (IBC) | Restriction |
|---|---|
| For Romania company formation you cannot use words in your company names without justification: | “Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc. |
| Restrictions on Trading: | None |
| Not permitted without a licence: | Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision. |
| Romania Company Formation | Confidentiality and Security |
|---|---|
| Publicly Accessible Records: | Yes public register of company officers (Directors, Shareholders, Secretary) |
| Nominee Shareholders and Nominee Directors: | Yes, Allowed |
| Disclosure of Beneficial Ownership to Authorities: | No |
| Meetings of Directors and Shareholders to be held: | Anywhere |
| Stability: | Stable jurisdiction and very highly regarded reputation. |
| About Romania | |
|---|---|
| Capital city: | Bucharest |
| Region: | Romania is located in Southeastern-Central Europe, bordering the Black Sea, between Bulgaria and Ukraine. It also borders Hungary, Serbia, and Moldova. |
| Political System: | The politics of Romania take place in a framework of a parliamentary representative democratic republic, whereby the Prime minister is the head of government, and of a multi-party system. Executive power is exercised by the government. |
| Government: | Republic |
| Governing corporate legislation: | Company Law No. 31/1990 is the primary legislation that regulates registration and operation of companies in Romania. |
| Type of Law: | Civil |
| Currency: | The Romanian leu (RON). |
| Exchange Control: | None. |
| Language of Legislation and Corporate Documents: | English. |
| Time Zone: | GMT+2 . |
- Romania is one of the most fast-growing countries in the European Union
- Dynamic and competitive economy with a rich history in trade and businesses sector.
- Taxation system which offers a lot of advantages to start-ups and small businesses compared to other EU member states.
- The real estate sector has increased tremendously the marketing becoming more mature.
- Geopolitical factors are also favourable.
- Low operational cost and highly skilled workforce
- A Company requires a minimum of one shareholder
- A Company requires a minimum of one director
- Excellent and flexible post-incorporation follow-up services
- No statutory requirement to hold annual general meetings
- Highly competitive fees and costs
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This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.
