What is the procedure for opening a company in Romania?
As an investor who wants to open a company in Romania, at first you should know the process of setting up a new enterprise and the steps you need to follow.
There are 6 steps that are mandatory to follow:
- Get your reservation of company name – form found at Trade Registry, you need to fill in 3 names in order of your preferences and the process takes about an hour. The issued name reservation certificate is valid for 3 months.
- After the name availability certificate is issued, the constitutive act is written, the authorized person of the company must file the documents at a bank where the social capital will be deposited (a minimum of 200 RON).
- Register the company at the Trade Registry – the process takes about 3 days and it is free of charge, you only need to pay the taxes for the Official Monitor publishing. Here you must present your articles of incorporation, constitutive act, social capital deposit proof from the bank and an application form which you can find there.
- Buying the unique registry for controls – provided by the law, it is mandatory to have a unique registry for controls from ANAF in 30 days from registering the company to Trade Registry.
- Register for VAT purposes – if you want, this is not mandatory for a new company. There are no costs, and this is also done at ANAF.
- Register employees’ contracts – if the case, this must be done online with the Territorial Labor Inspectorate (IML). The employer is obliged to keep track of all employees’ records internally, electronically and transmit them to IML.
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