Manage your tax position by setting up a company in Romania!

Our office provides clients with the opportunity to expand their activities, legally reducing their taxes, supporting them organizationally and tax-wise in their every effort.

Why Romania?

Romania’s economy is the fastest growing economy in Europe. Romania recorded the highest annual growth rate among European countries in the first quarter of 2017, according to Eurostat data, followed by Poland and Lithuania (4.1% each), Latvia (3.9%), Hungary (3.7%) and Bulgaria (3.4%).

Romania offers investors and businesses from Greece full opportunity to develop ideal tax planning, with 100% control and governance of these companies by the Greek entrepreneur.

Country advantages:

By using a company in Romania the entrepreneur enjoys the following advantages:

• Stable and reliable business environment
• Romanian Companies Are Not Offshore
• Invoices issued by Romanian companies are normally recognised in all EU countries including Greece
• Invoicing to and from third European countries is achieved without Value Added Tax (VAT) charges
• It benefits from low taxation, while ensuring its financial confidentiality, friendly public services, simplified service procedures, flexibility in business management and, of course, the protection of its business activities
• Possible exemption of insurance contributions
• Reduces the accounting costs of the company
• Acquires a global business profile

Tax rates:

The most important points for the tax and legal framework in Romania are the following:

• The tax for companies that have a turnover of up to € 60,000 and have an employee amounts to 1% of the turnover.
• For annual turnover over 60.000 € up to 500.000 € tax amounts to 3%.
• The taxation of companies with an annual turnover of more than € 500,000 amounts to 16% of profits
• The tax on dividends for tax residents of Greece is 8%. The tax resident of Greece, when he obtains dividend income from a foreign company, is obliged to declare this income in his tax return in Greece and can legally import it
• There are double tax treaties signed between Romania and other countries, including Greece
• General Value Added Tax 19%
• Reduced Value Added Tax on food 9%
• It is not mandatory for the Administrator or the members of the company to pay insurance contributions

Romania offers investment proposals such as:

• Creation of production units with European or National subsidy
• Provision of all kinds of services
• Real estate investments
• Green energy, with a focus on biomass and biogas
• Imports and exports of products and services inside & outside the EU (search for products from Romania, promotion of Greek products in the Romanian market, etc.)
• Ownership and exploitation of copyrights / trademarks

TABLE OF COMPANY FORMS ->

The process of setting up a company in Romania

It is simple, fast and can be carried out in simple steps in the absence of bureaucratic obstacles. The process includes the following steps:

For the establishment of the company:

• Company name selection and approval
• Selection of shareholders and managers
• Choosing the form of the company
• Determination of the registered office of the company
• Power of attorney to a lawyer
• Drafting of articles of association in two languages (Romanian-Greek or Romanian-English)
• Opening of the company’s Bank Account in EUROS, DOLLARS, LEI and deposit of company capital in the bank account
• Submission of file to the Companies Register
• Receipt of approval and certificate of establishment from the Commercial Register

For the tax opening of the company:

• Opening of accounting books
• Registration and inclusion in VAT
• Registration and registration to VIES

The whole process is completed within 5 days. Our office undertakes the preparation and signing of all necessary documents in Greece (at the Romanian Embassy) to carry out the above steps. The visit of the legal representative of the newly established company in Romania is necessary only when opening the Bank Account. Throughout the procedure, the legal representative will be accompanied by a lawyer of our office, who is fluent in the Greek language.

Contact our law firm directly and get personalized advice for your business!

Our law firm has the judgment and know-how to assist you in setting up your business, establishing your company, as well as throughout the subsequent course of your business.

Contact our law firm directly and get personalized advice for your business!