Romanian Company Formation
Introduction to Company Registration Romania
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. For many, however, it is uncharted territory, which is why we should be your first port of call if you are considering company incorporation Romania. Our specialist experts will steer you safely to success.
How has EU membership changed Romania's business climate?
In order to qualify for EU accession, Romania has had to speed up its economic reform process along the following lines:
- liberalisation of foreign trade
- development of the private sector
- privatisation of state-owned companies
- modernisation of the banking and tax systems
How have international investors responded to these changes?
Inward investment has risen sharply over the past few years. In 2005 the net inflow of foreign direct investment was €5.2 billion, up 27% on the previous year. The figure for 2006, when published, is likely to show a further significant increase. The trend is being driven by Romania's economic and political stability, EU accession, and changes to the tax regime.
What is the rate of corporation tax in Romania?
The standard rate of corporation tax has been reduced to 16%. An exception applies to nightclubs and gambling operations where it is at least 5% of gross revenue. However, corporation tax is much lower for micro-companies, defined as businesses with annual turnover of less than €100,000 and with fewer than ten employees. For such companies, corporation tax is currently just 2%, rising to 3% by 2009.
What are the most common types of Romanian Company Formation?
The two most popular forms of company incorporation Romania are:
- Limited liability company (SRL)
- Joint stock company (SA)
How much share capital is required for a limited liability (SRL) company?
The minimum share capital for an SRL company is just €60, provided the business has no more than fifty shareholders.
What are the other key features of a limited liability (SRL) company?
- Must have between one and fifty shareholders
- Shareholders may be Romanians or foreign nationals
- Low administrative and reporting requirements
How much share capital is required for a joint stock (SA) company?
The minimum share capital for an SA company is €25,000 of which at least 30% has to be paid up.
What are the features of a joint stock (AD) company?
- Mandatory AD format if company is involved in banking or insurance
- Minimum of five shareholders and one director
- Three 'censors' to oversee financial reporting
What other types of Romanian Company Formation are there?
The other main forms of Romanian company formation are:
- partnership
- branch
- representative office
We specialise in the following Romania company services:
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