We invite you to consider the opportunity to register a company in Romania. If you do so, you will have a European business structure that is subject to a corporate tax as low as 1%. The company can be registered remotely. Our packaged service includes professional assistance in choosing a suitable bank and opening a corporate account there.
Advantages of registering a company in Romania
- 1% to 3% corporate tax for micro companies with the turnover of less than one million euros per year;
- Romania is a member of the European Union;
- The required charter capital is 200 lei (around 50 euros);
- Romania has signed agreements on double taxation avoidance with 87 countries;
- The foreign investor can open as many micro companies (with the turnover of less than 1 million euros) in Romania as he or she desires;
- The country is politically stable;
- The banking sector is well developed in Romania and local entrepreneurs have easy access to international banks.
When the company is registered in Romania, it will have both a local identification number and a unique European code (EUID). This code allows identifying the company in the whole of Europe and obtaining copies of various electronic certificates.
Company taxes in Romania
The standard corporate profit tax rate in Romania is 16%.
However, small companies with an annual turnover of less than a million euros (at the Central Bank exchange rate at the end of the fiscal year) are referred to as ‘micro companies’ and they are subject to a 1% to 3% tax.
- Romanian companies with at least one employee pay a 1% tax;
- Companies without employees pay a 3% tax.
These tax rates are quite comparable with the tax rates in offshore jurisdictions.
The dividend tax is 5% in Romania. Dividends can be paid every quarter. They can be paid in the form of real assets or in the monetary form.
Some types of bonuses are not taxable in the country.
Company registration in Romania: requirements
You will have to do the following to register a company in Romania:
- Prepare the application documents package;
- Choose the company name;
- Choose the type(s) of business activities from the classified index;
- Pay the Company Register state duties;
- Hire the company director (who can be a foreign national). The company shall have at least one natural person as its director. When this requirement is fulfilled, legal entities can be appointed co-directors;
- Rent or buy a local office: this is mandatory;
- Set up a corporate account with a local bank: this is also mandatory.
Compiling and filing accounting reports is also obligatory in Romania.
Company registration in Romania: list of application documents
- Passport copies for the prospective company owners;
- Signature samples;
- A Power of Attorney that authorizes our company to file the application to the trade register on your behalf and set up a corporate bank account. The document shall be sent to Romania by mail.
- A Letter of Responsibility (we will give you the sample).
All the application documents shall be translated into Romanian and notarized.
A personal visit of the authorized signer to the bank may be required when the bank account is opened.
Costs of registering a company in Romania
The company registration service package is 2 100 EUR. The package includes:
- Payment of the state duty to the Trade Register;
- Notary fee;
- Translation fee and translation notarization fee;
- Deposit of the minimum required charter capital (50 euros);
- Assistance in choosing a local bank;
- Assistance in opening a bank account;
- Courier delivery of the documents.
We would like to stress once again that having a company office in Romania is obligatory (having only a legal address will not be enough).
You can get the best price if you cover the office rent for 12 months in advance. It will cost you 3,960 euros per year.
If you wish, you can ask us to find you a fancier office at a higher price. We will also be happy to help you in purchasing a company office in Romania.
So, the total minimal cost is: 2 100 EUR + 3,960 = 6,060 EUR and your company in Romania is up and running!
The costs of the accounting services will depend on the volume of work. They start at 220 EUR per month + the VAT.
Additional services for the companies registered in Romania with our assistance:
|Registration Services for VAT purposes||350 EUR|
|NIF acquisition (tax ID for non-residents of Romania)||350 EUR|
There is no fee for company registration extension in Romania. Your maintenance costs will include the office rent, the accounting services and the 1% corporate tax (this is applicable to companies with at least one employee and you have to bear in mind that employee-related taxes are due).
The procedure of registering a company in Romania and using the tax benefits
- Apply for a consultation with a InternationalWealth expert.
- Answer the questions that the expert will ask. Your answers will let us see if we are able to provide the services in your personal case.
- Cover the cost of the company registration service and the office rent for a year – 6,060 EUR in total.
- Supply the required application documents to us.
- Using the Power of Attorney, we will register a company in Romania on your behalf and open a bank account in the country. The bank may request that the authorized signer pay a personal visit to the bank office in Romania.
- When the corporate bank account is opened, your Romanian-registered company will become fully functional.
If you wish, we can acquire the VAT and the NIF numbers for your company in Romania.
Please apply for a consultation on registering a company in Romania right now and use the opportunity to pay the lowest corporate tax in Europe! You are welcome to contact us by email: firstname.lastname@example.org or use our live chat or a messenger. We are looking forward to hearing from you!