Setting-up a company in Romania. Incorporation procedure.

Setting up a company in Romania involves several key steps:

1. Choose the Type of Company:

The most common types are Limited Liability Company (SRL) and Joint Stock Company (SA). Most small and medium businesses opt for a SRL due to its simplicity and limited liability.

2. Reserve the Company Name:

Ensure that the chosen company name is unique by checking it and reserve it at the National Trade Registry Office (ONRC).

3. Prepare the corporate documents:

The required documents that need to be prepared include, among the others, the proof of the company’s registered office, articles of association, shareholder and director details.

4. Register the company with the Trade Registry:

The necessary documents must be submitted with the Trade Registry for official registration. The solutioning process takes, in practice, up to 5 business days, unless additional information or documentation is requested by the Trade Registry representatives. A registration certificate and an unique company identification number (CUI) will be issued once the registration of the company is approved.

5. Open a bank account:

You’ll need a company bank account to deposit the share capital and manage finances.

6. Tax Registration:

Register the company for VAT if the turnover of the company exceeds the threshold or if you opt for voluntary VAT registration. Obtain a tax identification number (CIF) for your company.

7. Obtain the necessary permits:

Depending on the type of business, you may need additional licenses or permits from local authorities or regulatory bodies.

Once registered, don’t forget you are required to comply with Romanian laws on accounting, labor, and taxation.

We are here to provide support for all the aspects of the day-to-day activity for your company!