{"id":4288,"date":"2021-05-28T12:20:59","date_gmt":"2021-05-28T09:20:59","guid":{"rendered":"http:\/\/prifinance.loc\/uncategorized\/romania\/"},"modified":"2023-12-13T11:13:39","modified_gmt":"2023-12-13T08:13:39","slug":"romania","status":"publish","type":"post","link":"https:\/\/prifinance.com\/en\/european-companies\/romania\/","title":{"rendered":"Registration of a company in Romania"},"content":{"rendered":"<div class=\"info-block\">\n<p>Romania is a European country with a dynamically developing new economy, loyal taxation and fair business legislation for foreigners. The official currency of the country is RON (LEI). The state is a member of the EU from 2007. The minimum gross salary wage in 2019 was 2080 RON and the inflation rate \u2013 3,5%.<\/p>\n<p><strong>Among the advantages of the opening companies in Romania are:<\/strong><\/p>\n<ul>\n<li>the high economic growth (above the average among the EU members);<\/li>\n<li>low public debt ( below the average among the EU members);<\/li>\n<li>elimination of double taxation with &gt; 70 states.<\/li>\n<\/ul>\n<h2>Short review<\/h2>\n<ul>\n<li>One of the largest spheres of the republic economy is oil exploration. A significant proportion of the production is occupied by \u201cRompetrol\u201d.<\/li>\n<li>The leading branch of agriculture is crop production and grain farming.<\/li>\n<li>Being the owner of an outlet to the Black Sea, it has developed tourism.<\/li>\n<li>After the legalization of the gambling market in the Republic in 2015, the gambling business is developed strongly there.<\/li>\n<\/ul>\n<p>Business in Romania is governed by part 4 &#8220;Economy and public finance&#8221; of the Constitution. The major financial regulator in the country is the Romanian National Securities Commission (CNVMR).<\/p>\n<\/div>\n<div class=\"info-block\">\n<h2>Business Forms<\/h2>\n<p><strong>The legislation offers 5 organizational forms, where the most beneficial for non-resident founders are the first two:<\/strong><\/p>\n<ul>\n<li>Limited Liability Company (SRL);<\/li>\n<li>Joint Stock company (SA);<\/li>\n<li>General Partnership (SNC);<\/li>\n<li>Limited Partnership (SCS);<\/li>\n<li>limited Partnership by shares (SCA).<\/li>\n<\/ul>\n<table class=\"table table-company\">\n<tbody>\n<tr>\n<td><\/td>\n<td style=\"text-align: center;\">SRL<\/td>\n<td style=\"text-align: center;\">SA<\/td>\n<\/tr>\n<tr>\n<td>authorized capital<\/td>\n<td style=\"text-align: center;\">200 RON<\/td>\n<td style=\"text-align: center;\">90.000 RON<\/td>\n<\/tr>\n<tr>\n<td>number of shareholders<\/td>\n<td style=\"text-align: center;\">1-50<\/td>\n<td style=\"text-align: center;\">&gt;1<\/td>\n<\/tr>\n<tr>\n<td>led by<\/td>\n<td style=\"text-align: center;\">board of directors \/ one director<\/td>\n<td style=\"text-align: center;\">board of directors, supervisory board, manager<\/td>\n<\/tr>\n<tr>\n<td>minimum share value<\/td>\n<td style=\"text-align: center;\">10 RON<\/td>\n<td style=\"text-align: center;\">0.1 RON<\/td>\n<\/tr>\n<tr>\n<td>minimum number of jobs for Romanians<\/td>\n<td style=\"text-align: center;\">10<\/td>\n<td style=\"text-align: center;\">15<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"info-block\">\n<h2>Similarities<\/h2>\n<p><b>Both SRL and SA must have:<\/b><\/p>\n<ul>\n<li>the registered address;<\/li>\n<li>the registered administrator legal or natural person;<\/li>\n<li>an activity object, formed with the main activity.<\/li>\n<\/ul>\n<p>Both, a citizen of the republic and its non-resident, pay the same taxes for the same amount in Romania.<\/p>\n<ol>\n<li><em>Corporate income tax &#8211; 16%<\/em>\n<ul>\n<li>Entrepreneurs pay only 3% on their profit in the a case of:<\/li>\n<\/ul>\n<p>The company operates in one of the following areas:<br \/>\n&#8211; Trade;<br \/>\n&#8211; Production of goods;<br \/>\n&#8211; Execution of works\/provision of services;<br \/>\n&#8211; They are holders of a &#8220;small business&#8221;:<br \/>\n&#8211; Annual income &lt; 100.000 EUR;<br \/>\n&#8211; Staff &lt; 9 people;<br \/>\n&#8211; Small business, religious organizations, educational institutions and some others \u2013 0%;<\/li>\n<li><em>VAT &#8211; 19% (registration of this tax isn\u2019t required if the annual turnover &lt; 88,500 EUR)<\/em>\n<ul>\n<li>for sellers of building materials \/ providing entertainment services (clubs, museums, hotels, cinemas, sport events \/ selling newspapers, books, magazines) \u2013 5%;<\/li>\n<li>for sellers of essentials (not alcoholic drinks, food, medicines, prostheses) \u2013 9%;<\/li>\n<\/ul>\n<p><i>Tax benefits are not eligible for insurance, stock or banking organizations.<\/i><\/li>\n<li><em>Real estate property tax \u2013 0.25-0.5%<\/em><\/li>\n<li><em>Tax on dividends \u2013 5%<\/em><\/li>\n<li><em>Local taxes \u2013 4000 EUR<\/em><\/li>\n<li><em>Gambling business tax \u2013 2%<\/em><\/li>\n<\/ol>\n<p>The Prifinance specialists quickly and efficiently will consult you about details of calculating and paying all of the necessary taxes.<\/p>\n<\/div>\n<div class=\"info-block\">\n<h2>Documents<\/h2>\n<p><strong>Documents, required for registration of a company to a foreigner:<\/strong><\/p>\n<ul>\n<li>Memorandum of association.<\/li>\n<li>Certificate, confirming the legal status of the owner and founder of the enterprise.<\/li>\n<li>Registration certificate.<\/li>\n<li>Confirmation of the absence of debts in the home state.<\/li>\n<li>Information about the new company and its founders (copies of passports, company name, kind of activity, authorized capital).<\/li>\n<li>A letter of recommendation from a banking institution in Romania.<\/li>\n<li>Founders&#8217; agreements to comply with all Romanian legislation.<\/li>\n<li>Office lease agreements.<\/li>\n<\/ul>\n<p><strong>For long-term business ( &gt; 90 days), foreign entrepreneurs must:<\/strong><\/p>\n<ul>\n<li>apply for a long-term visa (type D) at the Romanian Consulate in their country;<\/li>\n<li>obtain a temporary residence permit from the Immigration Department under the local Ministry of Internal Affairs ( valid for up to one year, with the right to renew);<\/li>\n<li>obtain permission from the local center for the promotion of trade and foreign investment;<\/li>\n<li>get approval from the Directorate of Immigration under the Ministry of Internal Affairs of Romania.<\/li>\n<\/ul>\n<p><strong>The following persons have the right to renew a temporary permit:<\/strong><\/p>\n<ul>\n<li>entrepreneurs, investing &gt; 150.000-200.000 EUR\/ providing &gt; 25 workplaces (the extension period &#8211; 1 year);<\/li>\n<li>entrepreneurs, investing &gt; 500.000 EURO\/ providing &gt; 50 workplaces (the extension period &#8211; 3 years).<\/li>\n<\/ul>\n<p>Our Prifinance specialists can help you choose the most suitable option for business immigration to Romania.<\/p>\n<\/div>\n<div class=\"info-block\">\n<h2>Registration Procedure<\/h2>\n<p><strong>How to open a company in Romania within 2 weeks:<\/strong><\/p>\n<ul>\n<li>Visit the International Trade &amp; Investment Center to review the proposed business plan;<\/li>\n<li>Visit the General Inspectorate for Immigration and obtaining approval for registration of the company;<\/li>\n<li>Verification and registration of a unique company name through the National Trade Register Office (72 RON);<\/li>\n<li>Opening a deposit account in a Romanian bank and depositing the required amount of funds (0 RON);<\/li>\n<li>Registration in the Romanian Trade Register at the location of the company&#8217;s head office and obtaining a certificate of incorporation (700 RON);<\/li>\n<li>Registration a company in the tax office (0 RON);<\/li>\n<li>Online registration of company employees at the territorial State labor Inspectorate (0 RON).<\/li>\n<\/ul>\n<\/div>\n<div class=\"info-block\">\n<h2>How Prifinance Specialists May Help You<\/h2>\n<p>What are the advantages of our company for registering and opening your business?<\/p>\n<ul>\n<li>The professionalism of our staff.<\/li>\n<li>Fast response.<\/li>\n<li>Reasonable prices.<\/li>\n<li>24\/7 online support and consulting.<\/li>\n<\/ul>\n<p>To contact us, click on the pop-up window &#8220;call back in 28 seconds&#8221; or contact a consultant and we will be happy to help you!<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Romania is a European country with a dynamically developing new economy, loyal taxation and fair business legislation for foreigners. The official currency of the country is RON (LEI). The state is a member of the EU from 2007. The minimum gross salary wage in 2019 was 2080 RON and the inflation rate \u2013 3,5%. Among [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[268],"tags":[154,404],"class_list":["post-4288","post","type-post","status-publish","format-standard","hentry","category-european-companies","tag-romania","tag-romania-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Registration of a company in Romania | Prifinance Company<\/title>\n<meta name=\"description\" content=\"We offer company formation and bank account opening services in Romania. New registration and ready-made options. 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