The Fastest Company Incorporate in Romania with 3E Accounting

Company Incorporate in RomaniaStarting a business anywhere requires a lot of preparation, and this applies when you’re looking for a company incorporate in Romania. But with the right help, it doesn’t have to be, that’s what 3E Accounting is here for.

 

What Should I Know Before Starting A Business in Romania?

Incorporating a business abroad can sometimes come with language barrier challenges. The local business culture, customs, and way of doing things may not be what you’re accustomed to. That’s why it is advisable to seek the help of professionals like 3E Accounting before you get started.

Is Romania ripe with business possibilities? Absolutely. The country has a population of over 19 million people. With the middle class growing rapidly, causing a surge in purchasing power, there is higher consumer demand for all sorts of goods and services.

This is where you, as an investor, meet that demand. Sectors that you could potentially invest in include software development, information technology, tourism, food, aerospace, renewable energy,  e-commerce, and more.

 

How Do I Incorporate A Company in Romania?

Company Incorporate in Romania involves several steps and documents.  Among the documents include Articles of Association. It outlines the company’s purpose, share capital, shareholders’ rights and obligations, management structure, and other pertinent information related to your business. The document must be notarised in the presence of a Notary to verify its authenticity.

Once done, you must register with the Trade Register (Oficiul Registrului Comerțului) in the jurisdiction where your company will be located. This process involves identification and documents of shareholders and directors.

Other relevant authorities that may be involved in registering your business include the Labor Inspectorate, Environmental Protection Agency, and other licensing bodies in Romania. This will depend on the nature of your business and what licenses and permits you need.

 

What Business Structures Are Available for Company Incorporate in Romania?

The most common business structures to choose from in Romania are:

  • Sole Proprietorship (Persoană Fizică Autorizată – PFA)
  • Limited Liability Company (Societate cu Răspundere Limitată – SRL)
  • Joint Stock Company (Societate pe Acțiuni – SA), Branch o
  • Representative Office (Sucursală sau Birou de reprezentanță)
  • Limited Partnership (Societate în Comandită Simplă – SCS)
  • General Partnership (Societate în Nume Colectiv – SNC)

An SRL is the most popular business option. That is because it offers LLC protection for the company’s shareholders. To incorporate this structure, you will need at least one shareholder, although you can have several directors.

 

How Much Capital Do I Need to Start A Business in Romania?

This depends on the structure of your business. Small and medium-sized businesses will obviously require much less capital than large-scale enterprise. The nature of your business will also impact how much start-up capital is needed.

The cost of starting an SRL, for example, starts anywhere from 200 Romanian leu (EUR 40). The legal fees will vary because you will need to draft and notarise the company’s articles of association, too.

If you are starting an LLC, your minimum share capital must be deposited into a bank account.

 

Do I Need to Apply For a Tax Number in Romania?

Yes, if you pursue the Company Incorporate in Romania path, you need a tax number. In Romania, this is called the Unique Registration Code (COD de Inregistrare Unic). This will be assigned to legal entities upon incorporation. Those who are self-employed will also need a COD for tax purposes.

You can apply for a COD with the National Agency for Fiscal Administration (ANAF) office. Identification papers, business registration documents, and other pertinent information must be submitted for your application to be approved. Our 3E Accounting specialists can help you correctly gather the documents you need.

If your company’s annual turnover is expected to exceed the Value Added Tax (VAT) threshold, you must register for VAT too with the ANAF.

 

3E Accounting Helps You Focus On What Matters Most

With us handling your company incorporate in Romania, you’re free to focus on what matters most: How to make your business a success. For more information, get in touch with the 3E Accounting team today.

Company Incorporate in Romania