Romania
Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Romania.
Foreign Ownership Eligibility
Romania welcomes 100% foreign-owned companies
Fully remote formation — you never need to set foot in the country.
- 100% foreign ownership allowed — no restrictions on nationality
- No residency requirement for shareholders or directors
- Minimum capital: RON 200 (~EUR 40) for S.R.L., RON 90,000 for S.A.
- Formation can be handled remotely via ONRC online portal
- Foreign directors permitted without local representation requirement
Ownership
100% Foreign OK
Formation
100% Remote
Note
Non-EU nationals planning to work in Romania require appropriate visa (Business, Employment, or EU Blue Card).
Tax at a glance
Romania Tax Overview
16%
Corporate Income Tax (CIT)
1%
Micro-Enterprise Tax
0.5%
Minimum Turnover Tax (IMCA)
16%
Withholding Tax — Dividends
10%
Personal Income Tax (PIT)
21%
VAT (standard)
11%
VAT (reduced)
Pros & cons
Advantages & Considerations
Key Advantages
16% CIT competitive vs Western Europe — 1% micro-enterprise tax for small businesses (<EUR 100K revenue)
Full EU market access since 2007 — Single Market, free movement
Strategic location — gateway to Balkans, Black Sea region
Large market — 19 million population, skilled workforce
Low operating costs — 40–60% lower labor/office costs vs Western Europe
Growing tech sector — Cluj, Bucharest, Iași emerging tech hubs
Fast company formation — 5–10 days for S.R.L. via online ONRC portal
Minimal capital requirement — RON 200 (~EUR 40) for S.R.L.
100% foreign ownership permitted — no restrictions
Improving infrastructure — EU funding for transport, digital infrastructure
Considerations
Bureaucratic complexity — frequent regulatory changes, slow government processes
Corruption perception — Transparency International mid-tier ranking
Not in Eurozone — RON currency risk vs EUR/USD
Language barrier — Romanian language required for most official documents
Judicial system delays — contract enforcement and dispute resolution can be slow
Infrastructure gaps — outside Bucharest, infrastructure development varies
Brain drain — skilled workers emigrate to Western Europe for higher wages
Political instability — frequent government changes, policy uncertainty
Tax compliance burden — frequent tax law changes, complex reporting
Incorporation Process
The process is strictly digital. Each stage builds on the previous one.
Obtain tax ID (CIF)
Name reservation
Prepare incorporation documents
Deposit share capital
File with ONRC
What you'll pay
Cost Architecture
Government Fees
Annual Ongoing
Professional Services
Total formation cost: RON 1,800–6,000 (~EUR 360–1,200). Exchange rate: RON 5.0 = EUR 1 (approx).
Still unsure about costs?
These are estimates — your actual cost depends on your structure
Every Romania setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.
Fintech & Banking
Can non-residents open accounts without visiting? YES.
Banking options for non-resident founders in Romania. Remote account opening availability varies by institution.
| Institution | Type | Ease for Non-Residents | Notes |
|---|---|---|---|
| BCR (Banca Comercială Română) | Traditional bank | Low (Visit Required) | 3–5 days (after incorporation) • RON 20–100/month (~EUR 4–20) • RON 0–1,000 (varies by bank) • Incorporation certificate, Articles, tax ID, director/shareholder ID, proof of address • All major banks offer online/mobile banking |
| BRD (Groupe Société Générale) | Traditional bank | Low (Visit Required) | 3–5 days (after incorporation) • RON 20–100/month (~EUR 4–20) • RON 0–1,000 (varies by bank) • Incorporation certificate, Articles, tax ID, director/shareholder ID, proof of address • All major banks offer online/mobile banking |
| Banca Transilvania | Traditional bank | Low (Visit Required) | 3–5 days (after incorporation) • RON 20–100/month (~EUR 4–20) • RON 0–1,000 (varies by bank) • Incorporation certificate, Articles, tax ID, director/shareholder ID, proof of address • All major banks offer online/mobile banking |
| ING Bank Romania | Traditional bank | Low (Visit Required) | 3–5 days (after incorporation) • RON 20–100/month (~EUR 4–20) • RON 0–1,000 (varies by bank) • Incorporation certificate, Articles, tax ID, director/shareholder ID, proof of address • All major banks offer online/mobile banking |
| Raiffeisen Bank Romania | Traditional bank | Low (Visit Required) | 3–5 days (after incorporation) • RON 20–100/month (~EUR 4–20) • RON 0–1,000 (varies by bank) • Incorporation certificate, Articles, tax ID, director/shareholder ID, proof of address • All major banks offer online/mobile banking |
| Revolut Business | Fintech | High (Remote) | 3–5 days (after incorporation) • RON 20–100/month (~EUR 4–20) • RON 0–1,000 (varies by bank) • Incorporation certificate, Articles, tax ID, director/shareholder ID, proof of address • All major banks offer online/mobile banking |
| Wise Business | Fintech | High (Remote) | 3–5 days (after incorporation) • RON 20–100/month (~EUR 4–20) • RON 0–1,000 (varies by bank) • Incorporation certificate, Articles, tax ID, director/shareholder ID, proof of address • All major banks offer online/mobile banking |
Regulatory requirements
Annual Compliance Matrix
| Requirement | Deadline | Details |
|---|---|---|
Annual financial statements | Ongoing | File with ONRC and Tax Administration within required period of year-end. |
Corporate tax return | Ongoing | Due 25 June following year (extended deadline for 2021–2025 period; normally 25 March for calendar year). |
Quarterly CIT returns | Ongoing | Due 25th day of month following quarter for companies paying quarterly instalments. |
Micro-enterprise tax return | Ongoing | Quarterly, by 25th of following month for companies under micro-enterprise regime. |
VAT return | Ongoing | Monthly or quarterly by 25th day of following month/quarter. |
Beneficial ownership registry update | Ongoing | Within 15 days of any change (Law no. 129/2019 AML/CFT compliance). |
Annual General Meeting (AGM) | Ongoing | Required for S.A.; optional for S.R.L. |
Statutory audit | Ongoing | Required if exceeds 2 of 3 thresholds: assets > EUR 3.65M, revenue > EUR 7.3M, employees > 50. |
Frequently Asked
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