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Romania Company Formation

ROMANIA
Type of Entity: Limited Liability Company (SRL) Joint stock company (SA)
Type of law: Romanian Civil Code Romanian Civil Code
Shelf company availability: Yes Yes
Incorporation time frame: 2 weeks 2 weeks
Minimum Government fees: RON 40 ( EUR 8) RON 450 ( EUR 90)
Regular Corporate Income Tax: 16% 16%
Double Tax Treaty access: Yes Yes
Minimum issued share capital RON 200 ( EUR 41) RON 90,000 (EUR 18,200)
Minimum paid up share capital on incorporation: 100% 30%
Minimum number of Shareholders required: One Two
Bearer Shares Not permitted Not permitted
Nominee Shareholders Permitted Yes Yes
Minimum number of directors One One
Corporate directors permitted Yes Yes
Local directors required No No
Local meeting required Yes Yes (required every 3 months)
Company secretary required No No
General Meetings of Shareholders Yes, (at least an annual meetings of shareholders to vote on certain items, such as approval of financial statements) Yes, (at least an annual meetings of shareholders to vote on certain items, such as approval of financial statements and can either be ordinary or extraordinary depending on the matter on the agenda)
Local Registered office required Yes (it is a mandatory) Yes (it is a mandatory)
Exchange Control: Not existing Not existing
Disclosure of beneficial owner to Company Registrar Yes (the natural person or persons who ultimately own or control the company subject to registration in the trade register by the direct or indirect exercise of ownership over a sufficient percentage of the number of shares or voting rights or by participation in the company’s equity respectively) Yes, (the natural person or persons who ultimately own or control the company subject to registration in the trade register by the direct or indirect exercise of ownership over a sufficient percentage of the number of shares or voting rights or by participation in the company’s equity respectively)
Government register of directors Yes (in Romanian trade Registry) Yes (in Romanian trade Registry)
Annual return Yes (should maintain their accounting records in the Romanian language) Yes (should maintain their accounting records in the Romanian language)
Submission of accounts Yes (at the end of each financial year) Yes (at the end of each financial year)
Audit No (but subject to meeting certain thresholds, financial audit may become mandatory) Yes
Change of domicile permited Yes Yes

We do our best to monitor the compliance of this jurisdiction with the latest international regulations set by OECD and other international institutions and countries.

At any moment, Damalion may decline any customer demand about this jurisdiction, at its sole discretion and without any obligation to provide any reason.

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