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:

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.

Key Contacts – Lawyers with Expertise in Company Formation in Romania