When incorporating, you must look at the law in the country, in Romania is civil law (french) law. You will want to get some local advice as to how to best structure a company in Romania. One is permitted to electronically sign documents.
The country code RO is for Romania and the most common company type type in Romania is a LLC (SRL).
The time to setup is usually 2 Weeks to setup a LLC (SRL) in RO. The types of consideration you can use to setup your legal entity is often EUR and ANY legal currency.
Yes, one is allowed to re-domicile a LLC (SRL) from RO. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC (SRL) in RO by yourself. Corporate Shareholders are permitted, which means you can have a legal entity as a shareholder. Foreign ownership is permitted, up to % of the total shareholding.
A legal entity is only required to have one director. Furthermore, corporate directors are permitted. Directors should not expect to be private, as they are disclosed. There is a requirement to have annual meetings of shareholders.
A registered legal firm must be retained for an address, paid by the company on an annual basis, for an agent which can receive any official legal correspondance on behalf of the company. Moreover, a company secretary is not always necessary, at least not by law.
There is a not a requirement to file annual returns. This won't excempt the business or its owners from additional tax or reporting obligations elsewhere and one would be wise to pay for personal advice on their unique situation. On that note, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are in effect. A company is thinly capitalised when there is a greater proportion of debt than equity. The minimum capitalization for a Romania Civil Law (French) is 200.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Romania, The National Trade Register Office (ONRC). Shareholders are disclosed in the The National Trade Register Office (ONRC).
Typically companies take 2 weeks to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Romania is a ok option and have given it a score of 65 as an IO score, using the Incorporations.IO proprietary formula.
2 Weeksto form