Company Creation In Romania - Create A Company In Romania
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A SRL (Limited Liability Company – Societate cu raspundere limitata) is the most frequent type of legal entity in Romania. This kind of business structure can be easily set up in Romania, as long as the following steps are considered:
1) First of all, once the decision to establish a company in Romania has been taken, the client must check the availability and reserve the company’s name and logo. This procedure is done through the Romanian State Office for Inventions and Trademarks. A Romanian SRL is a limited company broadly equivalent to the German GmbH of the French Sàrl. All company names must be approved and reserved by the Trade Register Office and this is typically done within a day. Words suggesting geographical locations are restricted and special approval is required to use the word ‘Romania’; this can take around 30 days. The name of your company can be in any language so long as it uses the Latin alphabet but it cannot be deceptively similar to a company already trading in Romania and it must end with the suffix SRL.
2) The second step is to provide the necessary documents for the company formation in Romania. SRL companies are registered through the local Trade Register Office and will require a series of documents from the shareholders and administrators (Directors) such as: Articles of Association (required to contain certain information), Affidavits and Specimen Signatures. In case the shareholders are foreign companies then the Romanian Trade Register will also require their registration documents for proof of their existence and details and registrations.
3) Documents you are required to provide:
Proof of identity (passport, national identity card, photographic driving licence).
Proof of residential address (gas/electricity bill or credit/debit card bank statement dated within the last three months)
4) Registered Office
All SRLs must have a registered office where documents may be legally served on the company. The registered office must be a physical address in Romania. We can host and administer your company in one of our business centers.
5) Share Holders and Share Capital Requirements
The minimum registered capital of an SRL is 200 RON (approximately €50) and initial capital must be subscribed and paid in cash upon registration of the company.
The share capital must be divided into shares of equal value.
The minimum share value is 10 RON. Consequently, a 200 RON company can have only 20 shares, i.e. one share equals 5% of the share capital.
Share capital can be paid up using any currency.
At least one shareholder is required and a maximum of 50 shareholders is permitted.
6) An entrepreneur can open a company in Romania and choose to either visit the country, or to delegate powers to a representative through a Power of Attorney or mandate.
7) A bank account has to be opened and the minimum share capital subscribed (200 RON). This service refers to both the initial share capital account as well as an additional current account for on-going operations. Both types of Romanian bank accounts can be set up without your personal presence in Romania.