Company Formation in Romania
Company formations governed by private law in Romania
- P.F.A. (PersoanăFizicăAutorizată) – Self-employed person.
- S.R.L. (Societate cu RăspundereLimitată) – Private Limited Company
- S.A. (Societate pe Acţiuni) – Société Anonyme
Foreign investors are mainly interested in the S.R.L. and S.A. types; if we were to describe and distinguish between these two forms of companies the following are necessary to be noted:
|Number of shareholders||1-50||2+|
|Dissolution||Even a shareholder may block the procedure||The majority holds the absolute right of dissolution|
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Professional Lawyers for Company Formation in Romania
The set-up process for company formation in Romania of a Private Limited Company in its basic form is carried out by just two state services:
Α. Registry of Commerce
- Research and registration of the corporate name.
- Seat approval
- Approval of shareholders and managers.
- Submission of all supporting documents and final approval of the establishment of the company.
Upon approval of the establishment by the Registry of Commerce, the newly-fledged company formed in Romania shall be receiving both a VAT and a Registration Number, and then proceed further with Tax Authorities.
B. Tax Authorities
- Registration and integration in the country’s VAT regime.
- Registration and integration in the European system of intra-Community Transactions VIES.
This process may last from 4 to 30 days, depending on the particularities – if any – of the case at hand.
For instance: according to the Romanian Tax Code an S.R.L. may opt not to have a VAT number. In such case, Companies having opted out of the VAT regime, are not allowed to charge taxes.