September 3, 2015
Whatever we refer to foreign or domestic investors, the most common form of doing business in Romania is through a Limited Liability Company (SRL). Benefits speak for themselves: quick registration with low administrative obligation, low cost of registration, a minimum social capital of 200 RON, shareholders cannot be held personally liable for the debts or actions of the corporation.
The procedure of incorporation is formalistic and it is carried out at the Trade Register attached to the Tribunal where the future headquarters of the company will be. The procedure has an administrative part performed by officials from the Trade Register and a decisional part carried out by the Director of the Trade Register or by a delegated person. If the applicant’s file is complete the company is incorporated in about 10 days.
After the company is incorporated, certain administrative procedures at tax administration and by case at the Territorial Labor Inspectorate are following.
Good to know: Persons who incorporate for the first time a Limited Liability Company (SRL) can opt for “debutant SRL” (SRL-D). SRL-D can be incorporated by a maximum of 5 debutants shareholders in specific areas of activity and it is mandatory that the administrator is named from the shareholders. In order to get the fiscal advantages, the company must be classified as microenterprise.
Author: Mag. Mihaila Raluca, office@nhp.ro
For further information on this aspect and any other questions please feel free to contact: Mag. Raluca Mihaila L.L.M. office@nhp.ro.
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