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2017.07.23
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COMPANY FORMATION
Romania
INCORPORATION DATASHEET
 
Although Romania is not a typical jurisdiction for the formation of companies, EU membership certainly makes certain countries more attractive. The Romanian banking system is quite stable, and an EU tax number can be obtained easily during the registration process with the Romanian tax authorities. In tax planning, however, it should not be forgotten that the tax is 16 + 16%! That’s 16% corporation tax and 16% withholding tax on dividends paid to foreigners (naturally, in certain situations agreements for the avoidance of double taxation as well as the EU parent-subsidiary directive offer more attractive possibilities).
 
Method of incorporation / registration: The Memorandum and Articles of Association must be signed by the member(s) of the company. The company documents must be in Romanian. Declaration must be signed in person before Notary Public in Romania
Company form: Private Limited Liability Company / S.R.L. (SOCIETATE RASPUNDERE LIMITATA)
Source of corporate legislation: Ordinance 32/1997 amending & completing Law 31/1990, Law 195/1997 approving Emergency Ordinance 32/1997
Possible suffixes to company name: S.R.L. / SOCIETATE RASPUNDERE LIMITATA
Restrictions on company name: The word Romania may not appear in the company name
Time required for incorporation: 1-4 weeks
Number of directors: Minimum 1 of any nationality. Corporate directors are also permitted
Number of members: Minimum 1, maximum 50
Capitalisation: Minimum 200 RON (approx. 60 EUR)
Accounting / reporting: Annual financial statements must be produced. VAT and social security returns must be filed monthly
Type of shares: Registered
Annual tax and duties: 16% of net profit
Information publicly available: Details of members and directors
Registered Office: Local registered office suitable for the main activity of the company is required by law
Registered Secretary/Agent: Not required
Double tax treaty: Romania has an extensive network of DTTs

 

FEES
Incorporation fees: 780 EUR
Registered office: 80 EUR/month min. 6 months
Stamp duties and registration fees: approx. 200 EUR
Notarisation fees: approx. 50 EUR
Due diligence checking fee:
100 EUR/year
Opening of bank account: 250 EUR
Related news:
Romania's Tax Authority Creates New Anti-Fraud Division    17.11.2013
Romania's Prime Minister Confirms Corporation Tax Rate    14.06.2013
Romania – higher rates of withholding tax for non-residents    01.06.2013
The Global Forum on Tax Transparency welcomes Romania as new member    28.01.2013
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