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A firm in Romania with low corporate tax

Company registration in Romania with a corporate tax of 1-3%

2021-01-06
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Company registration in Romania with a corporate tax of 1-3% is available to non-residents who have registered the actual address of the company in the Registry. Company registration gives the opportunity to obtain both a regular and permanent residence permits, and later - citizenship. To learn more about the nuances of starting a business, contact our experts at IT-OFFSHORE.

Advantages of registration

There are several advantages of opening a company in Romania in 2021.The law does not limit the choice of employees and the number of foreign citizens in the enterprise. Significant investments are not required, and the authorized capital of about 50 USD will be enough.

Taxation is quite low - companies that earn no more than 1 million euros can pay a fee of 1%. Remote opening of the company is available. It is possible to get exemption from paying income tax if the turnover rate for the year has not reached 80% of all investments.

It is possible to register several types of legal forms. When opening an Authorized Individual Entity it is allowed to conduct any lawful activity with the use of its own labor force. An individual entrepreneur has the right to hire third parties.

It is possible to open an LLC - a company is formed by one or more persons for the purpose of conducting commercial activities. Liability is limited to a contribution. Open or closed joint-stock company and limited liability company can be established.

Conditions of registration

Preferential rate, which is 1-3%, is valid for micro-enterprises, whose profit is not more than 1 million euros annually. The investor has the right to open any number of companies as long as the turnover does not exceed this limit.

The standard amount of corporate income tax is 16%, and it starts to apply if the limit of 1 million euros is exceeded. 1% can be paid by firms with at least one employee, and 3% - by companies without employees. The dividend levy is 5%.

What you needed to do for registration:

  • Draw up a name and prepare documents;
  • Choose a line of business;
  • Pay the registry fees;
  • Appoint a director who is an individual;
  • Have a local office and bank account.

When working, it is required to fill out accounting statements and submit them in a timely manner. To open a business, you should collect copies of the future owners' passports and a form with signatures. A personal visit is required to open a bank account.

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