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Why you should incorporate a limited liability company (LLC) in Romania?
In 2024, to incorporate a company in Romania, there are numerous advantages for entrepreneurs, which is why more and more limited liability companies (LLC) in Romania are set up from year to year.According with the Company law no. 31/1990 For the company registration in Romania, it is necessary to draw up the related documentation requested by the Romanian Trade Register and to obtain the authorizations. This article addresses the advantages to open a company in Romania, recalling details on how to establish a company in Romania, liability of associates, share capital, NACE codes in Romania and other aspects of corporate and commercial law in Romania. In order start a business in Romania, a corporate lawyer in Romania, a company incorporation lawyer in Romania or a business attorney in Romania can provide legal assistance for drafting the necessary documents for company formation in Romania. The Romanian Law Firm Pavel, Margarit and Associates is internationally recognized for its corporate and commercial law services offered to a variety of clients, especially in the procedure of company incorporation in Romania.
Corporate lawyer in Romania. Company registration in Romania
The procedure incorporate a company in Romania involves the preparation of correct documentation and its submission to the Romanian Trade Register. For company incorporation in Romania, the entrepreneur must consider several aspects, such as choosing the object of activity according to the economic activity to be carried out (establishing NACE codes in Romania), the company name availability procedure, establishment of the registered office, preparation of the articles of association, liability of the associates, share capital, etc., so that the professional can carry out economic activity according to the legal requirements. The Company law no. 31/1990 provided for a series of necessary documents to set up a company in Romania, including the articles of association, the real beneficiaries declaration, the affidavit and any other documents imposed by the Romanian Trade Register.
A corporate lawyer in Romania, a company incorporation lawyer in Romania or a business attorney in Romania can provide legal assistance of corporate and commercial law in Romania in case you want to establish a company in Romania, providing advice on details such as liability of associates, share capital, NACE codes in Romania, etc.
Company incorporation lawyer in Romania. Liability of associates
A great advantage to start a business in Romania, namely a limited liability company (LLC) in Romania, is represented by the liability of the associates. Company Law no. 31/1990 established the provision that shareholders in a limited liability company (LLC) in Romania are liable only up to the amount of subscribed share capital. The limited liability company (LLC) in Romania must pay 30% of the value of the subscribed share capital no later than 3 months from the date of company incorporation in Romania, but before starting operations on behalf of the company, and the difference in subscribed share capital will be paid:
- a) for the cash contribution, within 12 months from the date of limited liabilitycompany formation in Romania;
- b) for the contribution in kind, within no more than 2 years from the date of limited liability company formation in Romania.
Business attorney in Romania. Set up a company in Romania. Reduced fees
More and more entrepreneurs choose to open a company in Romania due to the low taxes that the law imposes, compared to other countries. This aspect is analyzed in the statistics published by the Romanian Trade Register, observing a major increase in the number of limited liability companies established each year in Romania.
The corporate tax is 16% and the dividend tax is 8%. In the case of micro-enterprises that earn revenues not exceeding 60,000 euros, the tax rate is 1%, and for micro-enterprises that earn revenues over 60,000 euros or that carry out activities, main or secondary, according to those NACE codes in Romania provided for in the Tax Code, the tax rate is 3%.
“The Romanian Law Firm Pavel, Margarit and Associates prioritizes customer requirements, which is why it has assisted numerous clients in limited liability company formation in Romania, assisting in the choice of NACE codes in Romania, drafting the documents to start a business in Romania, as well as in any other steps for its registration”, affirmed the Managing Partner, Dr. Radu Pavel, of the Romanian Law Firm Pavel, Margarit and Associates.
Our team of lawyers is ready to assist you to incorporate a company in Romania by drafting the necessary documents to set up a company in Romania, submitting the file and any other steps for limited liability company formation in Romania. To benefit from our support, you can contact us by accessing the contact form available at https://www.avocatpavel.com/contact-us/.
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In conclusion, given the above mentioned, there are numerous advantages to open a company in Romania, which is why the Romanian Law Firm Pavel, Margarit and Associates recommends appealing to a corporate lawyer in Romania, a company incorporation lawyer in Romania or a business attorney in Romania that can assist you with the company registration in Romania, being internationally recognized for the services of corporate and commercial law in Romania.