History of Romania
Romania is a Central European country which joined the European Union in 2007. The country has been historically influenced by a number of countries. Romania’s democracy was overturned by fascism and was then subject to the Soviet regime in the mid-20th century, finally gaining independence after its 1989 revolution. Now a NATO member, Romania has ties with China and the developing world.
Romania as an Onshore Centre
Romania has been increasingly able to attract foreign investment thanks to its strong economy (which is one of the best in Eastern Europe) its European Union membership, and its favourable legislation. It is therefore a good onshore location for establishing a business.
In Romania, it is possible to register a private company (the most common structure), a joint stock company, a general partnership, a limited partnership, and a branch or a representative office of an overseas company. Forming a company in Romania makes it possible to take advantage of low tax rates, a good location (at the heart of Europe), and optimise margins via an import/export setup.
Types of Romanian Companies
Forming a company in Romania takes around ten days and involves six steps.
|Entity||Capital||Number of Partners, Shareholders or Members|
|Private company||200 RON minimum||At least one shareholder, maximum of 50 shareholders. Limited Liability.|
|Public company||90,000 RON minimum||At least two shareholders, limited liability.|
|General partnership||Not Applicable||Minimum of two partners, unlimited liability for debts and obligations, liability is joint and several.|
|Limited partnership||Not Applicable||At least two partners, one general partner must assume unlimited liability but all limited partners enjoy limited liability.|