How to open a company in Romania in 2023
Romania offers many tax incentives for investors. So, from 2023, all companies with income below €500,000 must register as microenterprises. In this case, they will be subject to a tax rate of 1%. However, there is also good news for investors who have decided to open an IT company in Romania in 2023. If certain conditions are met, the business can save on taxes on programmers' salaries.
Basic requirements for a Romanian business
Romanian laws allow foreigners to own a Romanian company. Among the mandatory requirements is an office in Romania. It is also recommended to hire a local accountant who will keep the documents up to date.
The most common forms of business in Romania
The most common forms of foreign business in Romania:
- LLC (SRL) - can have up to 50 shareholders. Share capital (from 200 lei or €50) is divided into equal shares. Shareholders are liable up to the amount of their contribution to the authorized capital. Joint-stock company.
- The minimum capital is €25,000. There must be at least 2 shareholders liable within the limits of the number of signed shares.
How to open a company in Romania: instructions
The first thing to do to register a company in Romania in 2023 is to come up with a name, verify its uniqueness, and secure it through the Commercial Registry. A bank account must be opened even before the documents are submitted, and it is to this account that the share capital must be deposited.
Then it is necessary to collect the documents - data of the shareholders, articles of association, memorandum of association, samples of signatures, etc. If the shareholders are foreign companies, registration documents must be submitted to the Commercial Register, which proves their existence.
The Memorandum of Association must contain the following:
- Form, name of the enterprise, legal address.
- Details of the shareholders.
- The main form of activity.
- The amount of the share capital.
- Data that identifies the beneficiaries and how they exercise control over the company (if applicable).
- The time of existence of the business, if it was established for a certain period.
For some types of businesses, it is necessary to take permission even before submitting the paperwork to the Commercial Registry. It applies primarily to credit institutions, insurance brokers, and companies that manufacture or sell firearms or ammunition. In some cases, the license must be taken after the business registration. For example, if you are going to work as an employment agent or in the transport sector.
At the final stage, an application for registration and a package of documents must be submitted to the Trade Register. An investor may submit the application themselves, or a power of attorney may be issued to a representative of our company.
Terms of registration
The standard term for opening a business is five working days if all the papers are executed correctly. However, do not forget about the preparatory stage, which lasts much longer.
How to start a company in Romania
Contact IT-OFFSHORE experts to register a business in Romania.