The Companies Law, which specifies the documentation that must be taken into account when registering the company as well as the social capital necessary for registration at the Trade Register, offers a variety of company types from which individuals seeking to establish businesses in Romania may choose.
The limited liability company, or SRL, is the most typical type of business entity that can be founded in Romania.
The required documents to form a company
You must first and foremost be aware of the documents that are necessary for the company file. The Trade Register discards the list of required papers, which includes declarations, constitutive documents, sample signatures, etc.
Creating the registered office
You can complete this process concurrently with all the steps required to create the company file. You must first search for a registered office. This could be a private or rental home or apartment.
The transfer of the registered office to the company name is the subsequent stage.
A leasing agreement or a convenience agreement can be used for this. This agreement must be reached between the building’s owner and the newly formed firm. The original copies of all of these applications and declarations pertaining to the registered office must be kept in the company file.
Constitutional drafting
The company’s Constitutive Act will be written as the next step.
The following information must be included in the Articles of Incorporation:
- The associate(s)’ identification information.
- The organization’s structure and the company’s name received.
- The registered office, and the secondary office (if there are multiple working points).
- The object’s primary activity and secondary activities,
- The share capital and the associates’ participation in profit and loss, and the administrator’s designation.
Each associate can hold an unlimited number of social parts, with the social capital of an SRL needing to be at least 200 lei, divided into social parts with nominal values of at least 10 lei each. The original form of the Articles of Incorporation must be included in the company’s establishment file.
Social capital realization
The associate(s) must deposit the share capital at this time. It must have a nominal worth of at least 10 lei per social segment and be at least 200 lei in total. You can complete this process at any bank. The bank must use a modified version of the constitutive act to make payments in accordance with it for the share capital. You will receive a receipt after the funds are deposited for the share capital, serving as verification that the payments were made in accordance with the terms of the constitutive act. The company file must get this proof in the original form.
Finishing the statements of your responsibilities
The next step is for the administrators and associates to finish the declarations they have made about their responsibilities, which will demonstrate that they have met all legal requirements to occupy these positions.
Additional documents
Only the Administrator or administrators complete the sample of signatures collected in the first stage. The notary must be presented with the signature (authentic notarial act).
The file must be released within 3 to 4 days.
Benefits of setting up a business in Romania
- Corporate tax rates range from 1% to 3% for small companies.
- 200 lei, or around 50 euros only, are needed as charter capital.
- 87 nations and Romania have signed agreements to prevent double taxation.
- The foreign investor may establish as many micro businesses in Romania.
- The nation’s politics are stable.
- Romania’s banking industry is well-developed, and local business owners may easily access foreign institutions.
Costs associated with forming a business in Romania
2100 EUR is the cost of the company registration service package. The bundle contains:
- The Trade Register is credited with the state tax.
- Fees for notarization, translation, and translation notarization.
- Deposit of the fifty euro minimum charter capital.
- Assistance with selecting a nearby bank.
- Help with opening a bank account.
- The documents were delivered through courier.
