Romania is very interesting location for representatives of international investment and financial structures. As a result of the active development of the economic sector, the stabilization of the fiscal system and a loyal legal framework, the Romanian jurisdiction is becoming a home for more and more companies. Romania is not listed as a standard offshore, however, it provides significant assistance to foreign companies in the form of tax privileges.
Organizational forms
- limited liability company or SRL. This is one of the more popular options. The minimum amount for capital is set at 60 euros. The company must have 1-50 shareholders, each of whom is responsible for a limited amount of the contribution;
- joint-stock company. The charter capital of such a company is 25,000+ euros. The company needs to have at least two shareholders, who are also liable, limited by the amount of contributions;
- partnership. There are no capital requirements for a partnership. You need to involve at least two partners.
- JSC, which has no restrictions in terms of the amount of liability. There are no capital requirements, the liability imposed on partners is not limited.
Accounting department
The operation of a company in Romania involves the maintenance of accounting records for all transactions. Most often, companies are allowed to keep records using a simplified scheme. Full reporting is required in the following cases:
- a company has more than 3,650 million euros on its balance sheet;
- sales volume exceeds 7,300,000 euros;
- a company has over 50 employees.
Tax structure
Romania establishes a fairly low tax for the profit received at 16%. VAT 24%. In order to enjoy tax privileges, a company must obtain the status of a “small organization”. Such firms are considered to be companies that receive income of no more than 100 thousand euros per year, and their staff does not include more than 9 employees. For such an organization, the rate is 3%. In this case, the activities of the company should be conducted in one of the following areas:
- trading operations;
- production of products;
- services sector.
There are no tax benefits for insurance companies, fund structures and banking institutions.
SRL
LLC (Romanian version of SRL) is the most commonly used one in Romania. The founder of such a company can be 1 person, without requirements regarding his residence. Minimum 50 shareholders are provided. If the number of members of the company is more than 15, it will be necessary to form a controlling structure “censors committee”. The capital is paid in full upon registration. Financial reports must be submitted on a quarterly basis.
If you need to register a company in Romania, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Romania. Write to us in the CRM form and we will help you register a company.
Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.
We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.
If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.