Starting a business in Romania is a challenge, as it is everywhere. Find information here about company creation, prospects in the marketplace and tips on how to avoid problems. Get in contact with other people in the forums and post a classified if you are looking for or offering business opportunities.
The following are required to start a business in Romania:
- Reserve company name: you need to get a certificate from the Trade Registry which states the name you have chosen does not exist and reserves it for you.
- Deposit capital: the company’s formation capital needs to be deposited in a bank and certificate of funds provided by the bank.
- Certification of officers and/or representatives: fiscal certification needs to be obtained from the local tax offices for the company’s associates and/or legal representatives.
- Company registration: You need to register with the Biroul Unicof the commercial registry (Registrul Comertului – BASC), get court registration, publish the constitution notice, then register for both statistical and tax purposes.
- VAT registration: With tax authorities
- Employee contracts: should be registered with the local labor inspectorate.
In principle it is possible to complete the steps for company registration in two weeks, but in practice you should allow more time. Costs vary depending on various factors, such as the capital, type and complexity of the business to be registered, they will exceed 300 RON in most cases. On top of this figure, you should take into account costs for: legal assistance, translation, bank costs and any other professional services you may require during the registration process. You will probably find it necessary to engage an specialist agent to complete this process for you. In this case, you should also try and make sure you have an independent third-party review documentation to protect your interests.
Business etiquette in Romania – Useful Advice
Naturally conservative, you may find that establishing working relationships takes longer than in other places and requires more upfront investment in terms of time and meeting.
Here are some useful tips about doing business in Romania:
- Always start with a formal attitude and approach when first meeting businesspeople in Romania. You should try and project a confident, but reserved attitude.
- Be patient when starting new business relationship, culturally people tend to be reserved and quiet. If you show good faith and prove trustworthy, you should be able to build up strong relationships over time.
- Once you have built up a level of trust with a business colleague, partner or associate, you can start to act and speak more casually. The safest thing to do is pay attention to the way the individual is interacting with you and follow their lead.
- Romanian business culture is quite strict about hierarchies. You should use a person’s correct title when addressing them, it’s a good idea to try and find out what this is in advance. If you don’t know someone’s title, for a man use domnule, a woman doamna, for example Domule [ssurname].
- Honesty and directness – like in most places – is appreciated and valued by Romanians in business.
- Make sure you hold eye contact with people when talking to them as there is a strong emphasis on this. looking away, down or averting your eyes during a conversation is likely to be interpreted as disinterest or disrespect.
Discover the business advantages in Romania
The romanian business environment is continuously growing and offers a lot of business oportunities and advantages. Among the many advantages you can find in Romania, we mention just a few:
- good banking system (over 36 different banks in Romania)
- fast internet speed (second place in the world)
- very good IT specialists & software companies
- low salaries
- very well trained people
- people speak many foreign languages
- low property costs & administration
Our company provide the following services:
- Business environment: a presentation of business activities on your field of activity.
- Company formation (starting from 500€):
INCLUDES: founding the company (1-5 shareholders), including: company name reservation, taxes to ONRC (Registry of Commerce from Romania), creating the file to register at ONRC.
NOT included: register as VAT payer, capital (minimum 50 €), registration in ROI (Registry of Intra-comunitary Operators), notary taxes (approx. 20 €/shareholder)
- Legal Assistance: on any field of activity, visas, staying permits, commercial assistance.
- Accountancy: accountancy, registration of the employees at ITM (Labor Force), payrolls.
- HR Management: labor protection, selection & recruiting, labor contracts according to Romanian laws.
- Property administration: we can provide a complete range of services as: cleaning, rent-a-car, security (office security or personal bodyguard), building maintenance, logistic services: transport (airport-hotel and back, guiding & travel).
- Brand building: registration of the mark in Romania & abroad; corporate identity: logo, website, business-card etc
Fore more details, please do not hesitate to contact us.
If you want to invest in Romania, we can help you decide.
Fore example, if you want to investin Agriculture, we can help you with all de documents, with a plan to have all year log production, market research and preparing the documentation needed for production at maximum