3 ways to register company in Romania

by | Nov 9, 2022 | Uncategorized

Romanian legislation regarding the business taxation system in the country is one of the most liberal in the European Union. Foreign entrepreneurs may be attracted by low tax rates and favourable simplified business conditions. Romania has seen an economic evolution over the past 16 years that has secured the country’s position as one of the EU’s fastest growing countries – since 2003. Romania’s GDP has grown more than 3 times.

3 ways to start a business in Romania

The most common form of doing business in Romania is a limited liability company (S.R.L). The process of registering a new company can be done in three ways.

1. Setting up a company in Romania on your own

Despite the attractive conditions for doing business in Romania, the company registration process itself is not the simplest and is quite time-consuming. In order to set up a company, you need to go through the following 5 steps:

  1. Checking the availability of the company name in the ONRC commercial register (if the originality of the name is confirmed, reserve it for 3 months);
  2. Providing the necessary documents:
    • Copy/scan of identity card (passport if current address of residence is outside Poland)
    • Electronic application for company name registration (available at oncr.ro)
    • Proof of availability of the selected company name
    • Application for registration of a business together with a form on the form of business taxation and a form on foreign investment
    • Declarations, signed by the members of the board of directors stating that: the legal person concerned has not carried out the activities it declares on or off its premises for a period of not more than 3 years; the legal person fulfils the necessary conditions for exercising the activity
    • Electronic specimen signatures of persons representing the company
    • Declarations of the founders, administrators, censors or persons physically representing the legal person in question
    • Copies of identity documents of founders, administrators, censors or auditors
    • The status of SRL
    • Document confirming the right to use the real estate as the company’s registered office
    • Declaration (original) on the sole responsibility of a foreign natural person or representative of a foreign legal entity not registered in Romania who acts on behalf of the company
    • Information on the tax registration of directors, shareholders, legal representatives of the company;
  3. Selecting a bank, setting up a company account, paying the initial capital. Subsequently, filing of documents with the Trade Register, which involves several additional procedures, e.g. obtaining a decision on registration with the Trade Register, obtaining a CUI number for tax purposes and registration for social security purposes. This stage takes up to four weeks;
  4. Signing the employment contract with the employees and registering them with the Employment Office;
  5. The establishment of a new company, most often requires registration as a VAT and VAT-EU taxpayer. Therefore, in addition to completing the above steps, you still need to:
    • Completing a registration form for VAT purposes
    • Submit a tax return to the tax office (within the first 30 days of running the company)
    • Obtain confirmation from the Commercial Register that your business activity is active
    • Provide a copy of the company’s registered office documentation
    • For non-EU directors, obtain a long-term visa or a certificate issued by the Romanian Immigration Office.

2. Take advantage of Romanian Company’s comprehensive company registration service

The complicated process of registering a company in Romania can be too cumbersome to do on your own. That is why our group of experts, Romanian Company, comes to your aid. On the basis of more than 10 years of experience, we have created an offer of incorporation services aimed at supporting and solving the problems of start-up business owners in Romania. Together with our comprehensive assistance, a client can open a new business in as little as 10 working days. Our consultants handle all aspects of the process and the business owner’s role is limited to a few simple steps – providing personal details, a scan of an ID card, company profile information and an electronic signature.

3. Use of selected Romanian Company services

Not being able to fully cooperate with Romanian Company on company registration is not a problem, as we also provide our services in a hybrid version. Our experts can assist the client with company registration at the stage of their choice. We specialise in the incorporation of companies in Romania, but we also provide:

  • legal advice, banking
  • obtaining licences
  • vehicle registration
  • accounting services, available in several languages.

Register a Company in Romania

1234 sAn Francisco, CA 12345
+1 555 0394 848
info@diviconsulting.com