Eternity Law International News Starting a company in the videochat industry

Starting a company in the videochat industry

June 30, 2021

The videochat industry is growing rapidly. For many entrepreneurs wishing to open a business in this industry, the actual question is how and where to register such a company. Romania is the world leader in the videochat market, with a regulated videochat activity. In this article, we will analyze the main aspects of a webcam business in the EU, specifically in Romania.

Forms of business registration in Romania

In order to register a company on the territory of Romania, it is necessary to choose the optimal organizational and legal form. The most common option is the registration of an LLC company (Societate cu Raspundere Limitata). This form allows the shareholder to create a commercial organization in order to obtain systematic profit. An LLC can be opened by both an individual and a legal entity, with a limited number of members – a maximum of 50. In this enterprise, the shareholders bear the risk of losses, up to the value of their contributions.

Registration of an LLC in Romania requires a minimum investment of at least 40 euros. The authorized capital is divided into a certain number of shares of the same par value. According to the law, the minimum par value of one share cannot be lower than 10 Romanian lei (2 euros). Accordingly, a company with an authorized capital of 100 Romanian lei (20 euros) can have only 10 shares, that is, one share is equal to 10% of the authorized capital.

An important factor is choosing the unique name of the organization. (It is highly recommended to check in the state registry). Also, a registered local office is required. A certificate of registration assures that all conditions for the conduct of business activities have been fulfilled. The company is considered as an existing entity allowed to carry out its activities from the date of registration in the central public database of the Trade Register.

Steps to starting a webcam business

In order to establish such a business in Romania, the following scheme can be used:

  • Registration of the company.
  • Opening a management company that coordinates videochat users.

In this case, the webcam studio will be registered on a streaming platform with the ability to manage profiles and create accounts for company representatives.

It is also important to study the peculiarities of the Romanian legal aspects, the criminal code, and taxation. It is recommended to have a director who is a resident of the European Union, as this can be a privilege when opening an account for a business.

Required documents for registration of LLC

The main list of documents and information for registration of an LLC includes:

  • personal data of shareholders;
  • legal address and company name;
  • Data of Chief Executive Officer;
  • the nature of the activities in which the company is involved;
  • information on the starting capital of all shareholders, the number and par of shares.

Summing up

We have covered the main aspects of registering a webcam business in Romania. If you are interested in starting a webcam business and are looking for where to legally carry out this type of activity, then pay attention to this country. For more information, please contact the specialists of Eternity Law International.

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