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flag Romania Romania: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

Limited Liability Company
Number of partners: Minimum of 1 partner with a maximum of 50
Capital (max/min): At least RON 200.
Shareholders and liability: Liability is limited to the amount of investment.
Public Company
Number of partners: Minimum of 2 shareholders.
Capital (max/min): At least RON 90,000
Shareholders and liability: Liability is limited to the amount of investment.
General Partnership
Number of partners: Minimum 2 partners: One general partner and one limited partner
Capital (max/min): No capital minimum.
Shareholders and liability: Unlimited liability for partnership.
Limited Liability Partnership
Number of partners: Minimum 2 partners: One general partner and one limited partner
Capital (max/min): No capital minimum.
Shareholders and liability: Liability limited to partnership capital.
The Competent Organization
The National Trade Register Office.
Search a Company or a Financial Report
Chamber of Commerce and Industry of Romania
 
Setting Up a Company Romania Eastern Europe & Central Asia
Procedures (number) 6.0 6.0
Time (days) 10.0 14.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Romania.
Trade Register

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The Active Population in Figures

201120122013
Labor force 9,252,0009,156,0009,451,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -52.40%56.40%
Men activity rate 60.00%64.50%64.90%
Women activity rate 45.40%48.20%48.60%

Source: UN - United Nations

 

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Working Conditions

Legal Weekly Duration
According to the Romanian Labor Code, working hours must be uniform that is 8 hours per day for 5 days with 2 days off per week. The minimum length of annual vacation is 20 workdays.
Retirement Age
57 years old for women and 62 years old for men.
Working Contracts
The employment contract is regulated by the laws and to a lesser extent by the agreements of collective and the cases of individuals.
The formalization of the work contract and employment conditions are extremely rigid.
Romania has the same main types of work contracts known in Western Europe: the contract for an indefinite duration, the contract for a fixed-term of employment, the contract from an agency placing temporary workers. One can also work part time or at home.
NOTE: it is prohibited to employ minors under the age of 15.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
RON 850 per month (source: Eastrategies, 2014).
Average Wage
Gross average monthly wage: RON 2,356 (source: Eastrategies, 2014);
Social contributions
Social Security Contributions Paid By Employers: Social Security fund: 20.8%; 25.8%; 30.8% depending on working conditions (29% for foreign employers)
Health fund: 5.2%
Medical leave: 0.85% (capped)
Guarantee Fund: 0.25% of the salary fund
Unemployment fund: 0.5%
Work accidents, risk insurance and occupational disease fund: 0.15% to 0.85%
Social Security Contributions Paid By Employees: Social Security contribution: 10.5%
Unemployment fund: 0.5%
Health fund: 5.5%

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Social Partners

Social Dialogue and Involvement of Social Partners
Trade unions play a relatively important role in the Romanian work sector. It is estimated that about 40% of employees are unionized. Some of the unions are: the National Free Trade Union Confederation of Romania (C.N.S.L.R.- FRÃTIA) and the Alfa Cartel.
Unions
Law 54/2003 on trade unions
Unionization Rate
About 40% of employees are unionized.
Labor Regulation Bodies
Ministry of Labour

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Last Updates: December 2014