Opening or moving the business in Romania
There are a few steps involved in opening or moving a business in Romania.
Choose a business structure
The first step is to choose a business structure. The most common types of business structures in Romania are:
- Sole proprietorship: This is the simplest and most common type of business structure. It is easy to set up and manage, but the owner is personally liable for all debts and liabilities of the business.
- Limited liability company (SRL): This is a more complex business structure, but it provides limited liability to the owners. This means that the owners are not personally liable for the debts and liabilities of the business beyond the amount of their investment.
- Joint-stock company (SA): This is the most complex type of business structure, but it is also the most flexible. It is well-suited for large businesses and businesses that need to raise capital from investors.
Register your business with the Romanian Trade Register
Once you have chosen a business structure, you need to register your business with the Romanian Trade Register. This can be done online or by submitting a paper application to a local trade register office.Obtain a business license
Once your business is registered, you need to obtain a business license. This can be done by submitting an application to the local trade register office. The application will need to include information about your business, such as its name, address, and activities.Open a bank account for your business
Once you have obtained a business license, you need to open a bank account for your business. This will allow you to receive and make payments on behalf of your business.Register for taxes
You need to register your business for taxes with the Romanian tax authorities. This can be done online or by submitting a paper application to a local tax office.Obtain any necessary permits or licenses
Depending on the type of business you are operating, you may need to obtain additional permits or licenses. For example, if you are operating a restaurant, you will need to obtain a food hygiene license.Find a suitable location for your business
Once you have completed all of the necessary paperwork, you need to find a suitable location for your business. This will depend on the type of business you are operating and your target market.Hire employees (if necessary)
If you need to hire employees, you will need to register with the Romanian Social Security Office and start paying social security contributions for your employees.Market your business and start selling your products or services
Once you have everything in place, you can start marketing your business and selling your products or services.Accountancy
When opening or moving a business to Romania, it is important to find a qualified accountant who can help you with your financial and accounting needs. A good accountant can help you to:- Set up your accounting system
- Prepare and file your taxes
- Provide financial advice and support
Here are some additional tips for opening or moving a business to Romania:
- Do your research. Learn as much as you can about the Romanian business climate, the specific industry you are operating in, and the requirements for setting up a business.
- Get professional advice. Speak to a lawyer and accountant to get advice on the best way to structure your business and to comply with all of the relevant laws and regulations.
- Be patient. The process of opening or moving a business to a new country can be complex and time-consuming. Be prepared for some delays and challenges along the way.