Company Formation in Romania
Romania is a sovereign state located at the crossroads of Central, Eastern, and Southeastern Europe. It borders the Black Sea to south-east, Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to south-west, and Moldova to the east. With a total area of 238,397 square kilometers (92,046 sq. mi), Romania is the 12th largest country and also the 7th most populous member state of the European Union having almost 20 million inhabitants. Its capital and largest city is Bucharest and other major urban areas include Iași, Timișoara, Cluj-Napoca and Constanța.
Member of the United Nations since 1955, part of NATO since 2004, and part of the European Union since 2007, Romania is a developing country and ranks 50th in the Human Development Index. It has the world’s 47th largest economy by nominal GDP and an annual economic growth rate of 7% (2017), the highest in the EU at the time.
Romania has pulled off a minor economic miracle in recent years, sweeping aside the remnants of socialist planning and transforming itself into a model of free-market reform. Now a full member of the EU, and with GDP moving ahead briskly at more than 5% annually, Romania is one of Europe’s most promising locations for investors wishing to set up a new company.
Romania Limited Liability Companies are not considered as offshore companies as there is no offshore legislation in Romania.
A Romanian SRL is equivalent to a Limited Liability Company in the UK or a GmbH in Austria and Germany in that it is a legal entity which is separate and distinct from the individuals who run it.
Advantages of company incorporation in Romania:
Summary of Romania Limited Company and main characteristics:
| General Information | |
|---|---|
| Type of company | Limited Liability Company (SRL) |
| Corporate Legislation | Company Law no. 31/1990 and the Trade Registry Law no. 26/1990 |
| Taxation | Standard Corporation Tax – 16%, 1%-3% for Micro-companies with annual turnover less than €100,000. Tax on Dividends – 5% Standard VAT rate – 19% |
| Currency | Standard Currency RON |
| Paid up capital requirement | Paid up capital required only 45 EUR. |
| Time zone | GMT (UTC) +2 |
| Directors | |
| Minimum no. required | 1 |
| Local Director required | No |
| Location of Meetings | Anywhere |
| Shareholders | |
| Minimum no. required | 1 |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | Optional (can provided by Consil Formation) |
| Local Secretary required | No |
| Registered office required | Yes, local |
| Share Capital | |
| Standard Currency | RON |
| Standard Authorized Capital | 200 RON |
| Minimum paid up capital | 200 RON (45 EUR) |
| Accounting Requirements | |
| Preparation of accounts | Required (can be completed by Consil Formation) |
| Requirement for audit | Only for turnover over 7.3 mil EUR |
| Accounts public accessible | Yes |
| Requirement to file Annual Return | Yes (can be completed by Consil Formation) |
| Further Information | |
| Bearer shares | No |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | Yes, Hague Convention 1961 |
| Owners | Individuals or Corporate |
Register your Romania Limited Company
- Document Notarization per document: € 500
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.