Company registration in Romania is an alternative to offshore companies. The main advantages of doing business in Romania:
- Corporate tax 1% (if the income is not more than 1 million EUR and min. 1 employee);
- A positive image of European jurisdiction;
- Romania is not in the black lists of offshore zones;
- Fast company registration;
- An insignificant amount of the authorized capital – 50 euros
- The ability to open an account with a local bank, hassle-free offshore payments;
- Fast and affordable creation of a real presence (“substance”) in the country of registration;
- A large network of international agreements for the avoidance of double taxation.
Terms of opening a company in Romania
Company registration within 2 weeks;
Opening a local bank account for 2 weeks.
Romanian company registration procedure:
It is necessary to determine: the name of the company to check for uniqueness (at least two options): – should not be identical or similar to the name of an existing company; – must end with an indication of the organizational and legal form; company structure (administrator, members); registration address; the amount of the authorized capital and the distribution of shares between the participants (RON 200 (approx. EUR 50); activities and regions.
Payment for services
At this stage, it is necessary to pay not only the cost of the registrar’s services (a lawyer who supports the registration of the company but also leave the deposit to cover other expenses, such as notarial actions, registration fees, etc.)
Submit documents for administrators/participants/attorneys
internal and foreign passports; a document confirming the address (in the absence of a registration mark in the internal passport).
Payment of the authorized capital
Funds can be deposited either by the shareholders themselves, or by direct bank transfer to a temporary bank account, or to the account of the registration agent. Subsequently, the share capital becomes available. Due to the insignificance of the amount of the Authorized Capital (approx. 45 Euro). Contribution of the authorized capital is carried out by the agent carrying out the registration.
Preparation of a set of documents for registering a company, signing documents with directors and participants. To prepare constituent documents, you must provide:
- Confirmation of the name reserve in the Trade Register;
- Constituent documents signed by the participants;
- Confirmation of payment of the Criminal Code to a bank account;
- Notarized Declarations of the administrator and participants confirming compliance with the requirements for administrators and participants;
- Notarized card with sample signatures of the administrator;
- Documents confirming that the company has an office for further activities (lease agreement);
- Declaration indicating the activities of the company;
If a legal entity is a member of the company, additional documents will be required to disclose the structure of this legal entity and the individuals included in it:
- Extract from the commercial register indicating data on the structure of the company;
- The participant’s decision to establish a subsidiary in Romania;
- Power of attorney for signing constituent documents and registration actions;
- Bank recommendation from the bank in which a current account is opened for a legal entity.
Documents for registering a company in Romania are submitted to state authorities only in Romanian.
Submission of an application
After receiving and processing the application, the Register issues a Certificate of Registration. Now the authorized capital is considered unblocked. The total period of registration of a company in Romania is on average 2 weeks.
Authorized capital
The minimum amount of the authorized capital is RON 200 (approx. EUR 50), divided into shares with a minimum value of RON 10 (approx. EUR 5) each, and must be paid before the filing of documents for registration.
