Establishing a Company in Romania
Romania is a republic in the north-eastern sector of the Balkan Peninsula, which is located in south-east Europe. On its eastern edge, Romania lies to the shores of the Black Sea and the country borders with Moldova, Ukraine, Bulgaria, Serbia and Hungary. Romania is graced with majestic mountain ranges, lush, rustic green valleys, colorful villages and townships, and its cities boast a variety of architectural styles. One of the country's hallmarks, is the immense and awe-inspiring Danube River, that ends its course in Romania, where it spills into the Black Sea.
Romania has existed as a nation since 1866 and gained full independence from the Ottoman Empire in 1877. After World War II, Romania became a communist country under the direct influence of the Soviet Union. The new communist regime was led by the infamous Nicolae Ceausescu, who ruled the country with an iron hand until the revolution of 1989. Since 1989, Romania is making great efforts to bring about a material change in the country's economic development and to make an ideological and practical shift to orderly governance free of corruption and to an efficient and progressive market. The State of Israel and Romania have maintained full diplomatic relationships, already since 1948.
Romania has a population of roughly 20 million residents. In 2004, Romania joined the NATO Alliance and in 2007, the European Union, however, it is not part of the Eurozone group of nations. The local currency is the Romanian Leu, and the country's capital is Bucharest. Forming a company in Romania provides easy access to the European Union market and to the Eastern European market as well.
- Romania holds the title of having the largest number of thermal and mineral water springs in Europe, making it a popular and enchanting destination for spa vacations. Spa hotels and spa tourist locations are spread throughout the country, attracting visitors from a wide swath of society.
- Romania recognizes sorcery as a legal and valid profession. Romania is the only country on the planet with such regulatory recognition, a fact that could possibly be reconciled with a few of the stories of legend that are connected to Romania, such as the story of Count Dracula from the Transylvania region.
- Nature in Romania is rich and diverse, such that you will find, on the one hand, Europe's largest gold deposits and, on the other hand, many areas of wild, untouched natural environs. This is evidenced by the fact that the country's brown bear population is Europe's largest.
Romania joined the European Economic Community in 2007, after beginning its transition from communism to capitalism in 1989. Alongside widespread poverty, an unwieldly bureaucracy and characteristics of an economy undergoing a process of change, the local economy is already forming a growing, well-founded middle-class. Romania attracts foreign investors, who are diligently and efficiently entering the market, mostly to leverage its location, it's being part of Europe and its ongoing development, for purposes of business activity. The proposition of establishing a company in Romania, lures in many entrepreneurs from a wide range sectors, and not only in the area of real-estate, as was the case a few years ago.
Romania’s primary export industries are cars, software products, textile, industrial automation, electronic and electric equipment, meteorological materials, chemicals and raw materials. It conducts most of its trade with a number of European Union countries, primarily with Germany and Italy.
Mellius Corporate Services affords its clients an opportunity to open a company in Romania, in a fashion that will best serve their business needs.
General
Type of company |
S.R.L. |
Relevant Companies Law |
Company Law (Law 31/1990, as republished and subsequently amended) |
Offices |
Businesses are required to provide the authorities with the address of a local office. |
Language of original incorporation documents |
Romanian |
Finance and Taxation
Currency |
New Romanian Leu (RON) |
Corporate tax rate |
16%. Corporate tax for companies with a turnover of over 0.5 million Euro is 3% of the company's turnover, provided certain conditions are met. |
Standard share capital |
Minimal share capital of 200 RON required. |
Office Holders
Company Secretary (Secretary) |
|
Obligation to appoint company secretary |
Not required |
Obligation to appoint local secretary |
Not required |
Type of entity that may function as company secretary |
Irrelevant |
Director |
|
Obligation to appoint company director |
Required |
Obligation to appoint local company director |
Not required |
Minimum number of directors |
1 |
Type of entity that may serve as company director |
Individual and/or company |
Shareholders |
|
Obligation to register shareholders |
Required |
Obligation to register local shareholders |
Not required |
Minimum number of shareholders |
1 |
Type of entity that may register as shareholder |
Individual and/or company |
Type of shares |
Registered shares and / or bearer shares |
Accessibility of Information
Company registrar |
Information regarding shareholders is publicly accessible. |
Annual Assembly and Reporting
Obligation to hold annual assembly |
Required |
Obligation to prepare financial reports |
Required |
Obligation to submit financial reports |
Required |
Accept
