Small business setup in Romania
Romania offers a favorable environment for small businesses due to its strong economy, skilled workforce, and opportunities in manufacturing, technology, and services. We have extensive experience in supporting small businesses, from start-ups to expansions. Our knowledge of the local market and expertise in company formation allows us to help you navigate the necessary paperwork and procedures to establish your small business in Romania. Let’s talk about the benefits of starting a small business in Romania and how our tailored solutions can help you succeed.
Formalities and procedure
Registering a small business in Romania entails a series of steps that can be finalized within a couple of weeks.
Choose a business name
The name of the business must be original and not currently being used. You can verify the availability of a name on the Romania Trade Registry’s website.
Select legal entity type
Choosing the right legal structure is crucial for the prosperity of your small business. We offer expert advice on Limited Liability Company (SRL), Joint Stock Company (SA), Branch Office, and Holding Company to assist you in making an informed decision that fits your needs and goals.
Set up legal address
It is crucial to have a valid address when launching a business, as it acts as the primary point of contact for government entities, legal bodies, and important business communications. Selecting an address that complies with local regulations and meets your business needs is of utmost importance.
Get the necessary paperwork ready
We have a team of specialists who will assist you in developing detailed documentation tailored to fit your company’s objectives and framework. We assure compliance with all legal requirements and will handle the filing procedure on your behalf.
Open a bank account
Starting a business in Romania necessitates having a corporate bank account. We will guide you through this procedure to ensure adherence to regulations and facilitate the establishment of a bank account with a respected financial institution in Romania for your small business operations.
Company registration
We take care of registering your small business with authorities such as the Trade and Companies Register and tax authorities, freeing you from the administrative work. This ensures that your small business is legally recognized and compliant from the beginning.
Setup accounting
In order to have a successful start for a small business, it is crucial to keep precise financial records. Our team of accounting professionals can assist in setting up efficient accounting and bookkeeping methods that adhere to the regulations in Romania.
Small business examples
Small businesses are found in various industries and sectors, each with their own unique requirements. Here are some examples of small-sized businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Romania
Romania is an appealing location for establishing small businesses, with a wide range of benefits available.
Strategic location
Romania’s expanding economy, talented workforce, and potential for manufacturing, technology, and services are appealing to businesses seeking to grow in Eastern Europe. Its advantageous location, affordability, and government support for foreign investment provide numerous benefits for companies aiming to enter its vibrant and developing market.
Favorable tax regime
Romania’s corporate income tax rate is a fixed 16%, with additional benefits such as lower rates for profits re-invested. The country has been successful in luring foreign investment, particularly in the fields of IT and manufacturing.
Banking
Romania’s banking sector offers a secure environment and opportunities for investment and financial services in a thriving economy, making it a desirable choice for individuals looking for reliable and expanding banking options.
Our small business setup solutions
We understand the value of your time and resources, which is why we offer two convenient choices to streamline the company formation process.
Business formation online
By utilizing the online platform offered by Romania, individuals can start and finalize the process of setting up a business from any location globally. The option to track advancement, turn in necessary paperwork, and access our services via secure digital platforms guarantees a seamless and convenient experience.
Business formation remotely
If you would rather not be involved in the paperwork, we are able to manage it all for you. Our experts will handle all the necessary tasks, fill out the needed forms, and communicate with the appropriate parties on your behalf to ensure your peace of mind.
Contact us today and launch your small business success
Get in touch today to schedule a consultation and begin pursuing your business goals. Let’s move forward together by taking that initial step.