Company registration in Romania
Romania offers the same opportunities to both investors whether they are Romania residents or foreign nationals. They are treated the same and provided the same opportunities for developing economic activities in Romania. All the companies operate independently and are separated by their shareholders/partners’ legal units, having their own patrimony, possessions, appellation, administration, registered capital, headquarters, and bank account.
All businesses must be registered at ONRC (the National Trade Register Office - Romanian Chamber of Commerce and Industry) and the corporation starts to exist from the date of registration. ONRC is a public institution that keeps statistical information on economic activities. The process of company incorporation in Romania states that every business must have at least one shareholder for an SRL and two for a SA. Additionally, one person can't be a unique associate in more than one company. Shareholders can be either companies or individuals and can all be non-Romanians.
Types of companies in Romania:
- Limited Liability Company (Societate cu Răspundere Limitată - SRL)
- Joint-Stock Company (Societate pe Acțiuni - SA)
- General Partnership (Societate în Nume Colectiv - SNC)
- Limited Partnership (Societate în Comandită Simplă - SCS)
- Partnership Limited by Shares (Societate în Comandită pe Acțiuni - SCA)
- Sole Proprietorship (Persoană Fizică Autorizată - PFA)
- Branch Offices and Representative Offices
Process of company incorporation in Romania.
- Company name reservation: You need to fill in 3 names in order of your preferences and the process takes about an hour. The issued name reservation certificate is valid for 3 months. After the name availability certificate is issued, the constitutive act is written, the authorized person of the company must file the documents at a bank where the social capital will be deposited (a minimum of 200 RON)
- Register the company: the process takes about 3 days and it is free of charge, you only need to pay the taxes for the Official Monitor publishing. Here you need to submit your articles of incorporation, constitutive act, social capital deposit proof from the bank, and an application form which you can find there.
- Unique registry for controls: It is mandatory to have a unique registry for controls from ANAF within 30 days of registering the company to the Trade Registry.
- VAT Registration: This is not mandatory for a new company. There are no costs, and this is also done at ANAF.
- Register employees’ contracts – if the case, this must be done online with the Territorial Labor Inspectorate (IML).
Why Romania is a Strategic Choice for Foreign Investors
- Fast-Growing Economy in the EU: Romania is one of the fastest developing countries in the European Union.
- Competitive & Dynamic Economy: Romania has a very dynamic and strong economy
- Technological Advancements: Romania is growing rapidly in technological evolution.
- Favourable Taxation System: Romania offers huge benefits for start-ups and small businesses in comparison to other EU countries.
- Growing Real Estate Sector: Romania has a growing real estate sector exponentially, with developers expanding their projects beyond traditional areas like the North of Bucharest.
