Romania - Republic of Romania

Click here for more Europe Links and Resources

FITA helps you find
service providers for:

Operating a Business in Romania

Setting up a company | Working conditions | Cost of labor | Social partners

Setting up a company

Legal business entities

Types of companies and capital (max/min)	Number of partners/shareholders and liability	Registration fees
Limited Liability Company At least RON 200 (about 50 EUR)	minimum of 1 maximum of 50 Liability is limited to the amount of investment.	Certificate of the availability of the proposed company name: RON 50. Deposit funds in a bank: 0 to 0.5% of capital. Fiscal record for the company associates and the legal representatives: RON 20. Register with the Unique Office (Biroul Unic) of trade registry (Registrul Comertului), Bucharest Tribunal: RON 289.
Public Company At least 25,000 EUR. (about RON 9,800)	minimum of 5 shareholders. Liability is limited to the amount of investment. It must be sold at no less than 30% at the formation and the rest within the 6 months following the registration.	Certificate of the availability of the proposed company name: RON 50. Deposit funds in a bank: 0 to 0.5% of capital. Fiscal record for the company associates and the legal representatives: RON 20. Register with the Unique Office (Biroul Unic) of trade registry (Registrul Comertului), Bucharest Tribunal: RON 289.
Joint-stock company Minimum: RON 2500 (about 630 EUR)	minimum 5 partners One or more partners assumes full responsibility	Certificate of the availability of the proposed company name: RON 50. Deposit funds in a bank: 0 to 0.5% of capital. Fiscal record for the company associates and the legal representatives: RON 20. Register with the Unique Office (Biroul Unic) of trade registry (Registrul Comertului), Bucharest Tribunal: RON 289.
Company in Collective Name Minimum: RON 2,500 (about 630 EUR)	minimum 2 partners At least one of the partners assumes full responsibility	Certificate of the availability of the proposed company name: RON 50. Deposit funds in a bank: 0 to 0.5% of capital. Fiscal record for the company associates and the legal representatives: RON 20. Register with the Unique Office (Biroul Unic) of trade registry (Registrul Comertului), Bucharest Tribunal: RON 289.
Limited share partnership Minimum: RON 2500 (about EUR 630)	minimum 2 partners At least one of the partners assumes full responsibility	Certificate of the availability of the proposed company name: RON 50. Deposit funds in a bank: 0 to 0.5% of capital. Fiscal record for the company associates and the legal representatives: RON 20. Register with the Unique Office (Biroul Unic) of trade registry (Registrul Comertului), Bucharest Tribunal: RON 289.

Business setup procedures: The formalities for registering a foreign company in Romania are from the National Office of Commercial Registration. The National Office of Commercial Registration 4 Expozitei Blvd 78334 Bucharest.
Generally, starting a company takes place in 6 steps:
1) Obtain a certificate from the Office of Commerce Registration proving the availability of the name of the proposed company and make reserving the desired name.
2) Deposit funds in bank and get a document confirming the depositing of sufficient funds.
3) Obtaining a tax ID for the members of the business and the legal representatives from the department of public finance of the municipality
4) Register with the main office (Biroul Unic) of the Commercial Registry (Registrul Comertului), the Court of Bucharest; get notification of registration, publication in the official court circular, and registration for statistics and security Social
5) Register for VAT
6) Submitting the contracts of employees with the Territorial Labor Inspector.
The competent organization: Oficiul National al Registrului Comertului- National Office of Commercial Registration governed by the Romanian Ministry of Justice

Working conditions

Legal weekly duration: According to the Romanian Labor Code, working hours must be uniform, that is to say, 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 for women and 62 years 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, contract from an agency placing temporary workers. On can also work part time or at home.
NOTE: it is prohibited to employ minors under 15 years old

Cost of labor

Minimum wage: The gross minimum wage is guaranteed at RON 540 (about 137 EUR).
Average wage: Average monthly gross earnings in Romania is RON 1,223 (EUR 410).
Social contributions: Social security contributions paid by employers: 34% to 44%.
Social security contributions paid by employees: 9% for natives and 5.5% for foreigners on taxable income earned in Romania.

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: The Ministry of Labor, Family and Social Protection.

Any comments about this content? Report it to us.