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LLC JSC Free Zone LLC LLP Rep Office Branch Office
Local Name SRL SA Zona Libera Partneriat cu Raspundere Limitata Reprezentanta a Firmelor Straine Filiala
Company Setup Time 5 days 10 days 10 days 10 days 15 days 15 days
Bank Account Opening 10 days 10 days 10 days 10 days 10 days 10 days
Government Grants Available Yes Yes Yes Yes No No
Government Contracts Bidding Yes Yes Yes Yes No No
Limited Liability Yes Yes Yes Yes No No
Client Required to Travel No No No No No No
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Corporate Structure Explained

Romania Limited Liability Company (SRL)

  • This entity can be incorporated with a single shareholder. The minimum share capital is EUR 50 (RON200). The shareholder(s) must appoint a director who can reside outside Romania.
  • This type of company has an obligation to submit annual financial statements and tax returns. An audit is required when there are more than 15 shareholders or they exceeded two out of three thresholds: Over 7.3 million annual turnover. Over 3.6 million assets. More than 50 employees.

Romania Joint Stock Company (SA)

  • This entity requires at least two shareholders and a minimum paid-up capital of EUR 25,000. At least 3 directors must be appointed, but the board of directors can have a sole individual. Nominating a board of administrators is optional.
  • An audit of the accounts is required by law if the JSC: Has more than 15 shareholders or a board of administrators and has exceeded two out of three thresholds, more than 7.3 million annual turnover. More than 3.6 million assets. More than 50 employees.
  • In the event no audit is required, the company must appoint internal auditors.

Romania Free Zone Company (IDZ Company)

  • Foreigners can register their business in one of the free zones available.

  • The benefits are the exemption from customs duties. Accessibility to transport infrastructure and manufacturing space. Procedures are simplified to obtain permits for both manufacturing and construction. Corporate income tax holidays.
  • Park registration is limited to companies involved in processing and manufacturing activities. It is required a business plan, financial projections, feasibility and environmental study and enough proof that the business will have the relevant resources to cover its initial expenses.

Romanian branch office

  • It is necessary to appoint a resident representative. The representative can be a foreigner or not, and must have a work permit if not an EU citizen.

Romanian representative office (liaison office)

  • It is required to appoint a resident representative who can be of any nationality with a work permit. The representative office is subject to a flat-rate tax of € 4,000 per year.

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