The Multinational Republic of Romania is located in South-Eastern Europe, in the north of the Balkan Peninsula. In recent years, Romania enjoyed some of the highest growth rates in the EU. The main trading partners of the country are Germany, Italy and France. Among the most promising areas for investment are tourism, agriculture, automotive, services, trade and construction. There are no restrictions for foreign businessmen under the local laws.
Advantages of registering a company in Romania:
- availability of DTT’s with more than 70 countries;
- the owner of the company can apply for a residence permit and a Schengen visa to enter all EU countries;
- no exchange control;
- access to the profitable loans (consumer loan of 7-10% per year, business loan of 3% per year, mortgage loan of 4-6%);
- or medium and large businesses, income tax is 16% and for small companies, the current legislation prescribes a tax of 3%;
- VAT is 19%;
- tax on dividends, royalties and interest – 16%. Since 2017, the tax on dividends for non-residents has been reduced to 5%.
Registration and maintenance of the company in Romania involves keeping records of all transactions. In most cases, companies can keep accounting records according to a simplified system.
Registering a company in Romania means that the shareholder has legal present on the territory of the country, for this purpose you need to obtain work visa by category D. The residence permit can be obtained after one year with the possibility of extension. You can apply for citizenship only after 8 years of continuous residence in the country.
The client needs to be present for an activation of the bank account and power of attorney execution to the licensed accountant for further company’s support. All other procedures for company registration are carried out remotely by power of attorney.
Company’s registration process takes from 2 weeks if the name of the company and legal address are approved. To open a bank account in Romania for non-residents you need to get Personal Identification Number. The period of receiving such a number takes from 2 to 4 weeks. Our experts are ready to help you during the whole process of the company registration and bank account opening in Romania.