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Romania

Now a full member of the EU, and with GDP moving ahead briskly at more than 5% annually, Romania is one of Europe’s most promising locations for investors wishing to set up a new company.

For many, however, it is uncharted territory, which is why we should be your first port of call.

Romania has been ranked first in Eastern Europe and second globally in a World Bank report on regulatory reform.

The report, Doing Business 2007, praised Romania for making it simpler, faster and cheaper to set up a new business and start trading.

As well as reducing corporation tax to a flat rate of 16%, the government has eased regulatory requirements across the board, ranging from building permits to customs procedures and labor laws.


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The standard rate of corporation tax has been reduced to 16%.

However, corporation tax is much lower for micro-companies, defined as businesses with annual turnover of less than €100,000 and with fewer than ten employees.

For such companies, corporation tax is currently just 2%, rising to 3% by 2009.

The minimum share capital for a Limited Liability Company (SRL) company is only €60, provided the business has no more than fifty shareholders.

Then, shareholders may be Romanians or foreign nationals. Administrative and reporting requirements are low.

The minimum share capital for Joint Stock (SA) company is €25,000 of which at least 30% has to be paid up.

Typical requirements are :

• Mandatory format if company is involved in banking or insurance,

• Minimum of five shareholders and one director,

• Three ‘censors’ to oversee financial reporting