How do I establish a business?

With the help of your accounting expert you can create and finalize your business plan through the consulting service for startup businesses, but also learn how to establish future companies so that you can easily go through the following stages:

  • Choosing the optimum level for social capital
  • Choosing the activity code as per CAEN Codes
  • Choosing your social headquarters and/or secondary locations
  • Naming the company’s administrator and appointment term
  • Choosing the period of operation for your company
  • Establishing the particularities of your business
  • Drawing the constitutive act
  • Drawing and lodging the O.N.R.C. required documentation
  • Obtaining the E.U.I.D. registration certificate

Your accounting expert will inform you about the rights and obligations of shareholders, company administrators, according to the regulations of the Companies Act No. 31/1990, act on the basis of which your company was established and will undergo economic activities.

What companies can we help you establish?

Details about the types of businesses we can help you establish

GP

General Partnership

LLC - D

Limited Liability Company – Debutant

FE

Family Enterprise

LP

Limited Partnership

JSC

Joint-Stock Company

NGO

Non-Governmental Organization

LLC

Limited Liability Company

IE

Individual Enterprise

RST

Registered Sole Trader

What you need to know?

Details about business establishment and startup businesses

BUSINESS ESTABLISHMENT

Business Establishment

Establishing a business alongside your accounting expert will be a short term process, process which is coordinated on both the accounting and  the legal sides.

What you need to know?

The stages of establishing a company are the following:

  • Reserving the name
  • Signing declarations and documents at a notary office
  • Depositing the social capital at a bank
  • Filling and lodging the O.R.N.C. documentation
  • Within 5 days you will receive the official papers of your company

What are your benefits?

The Bonus offered by your accounting expert for establishing your business is comprised of a consulting meeting for startup businesses and of a

50% Discount for the first 3 months

STARTUP BUSINESS CONSULTING

Your accounting expert has developed the consulting service for startup businesses in order to help entrepreneurs that already know how to create and develop a company but are not fully experience with the legislation and fiscality laws in Romania.

After a startup business consulting meeting, you will learn the following:

  • Choosing the type of company and the social capital of your business
  • Choosing the V.A.T. percentage and tax regime
  • The legal implications of choosing an administrator and associates
  • Establishing the social headquarters of the company

This service is tailored for any individuals wishing to establish any type of business (S.R.L., P.F.A., O.N.G. etc.) in Bucharest and Ilfov.

The consulting service is FREE is you establish a legal entity with us.

Useful Information

Additional details about accounting

Taxation Rate in Romania

In Romania, recently established companies are subject to the system of taxation on micro-enterprise income, having in mind the 1.000.000 Euro ceiling, and the applied tax rate is 1% for companies with a minimum of 1 full time employee or 3% for companies with 0 employees.

Optionally, but with a definitive character, micro-enterprise companies with a social capital of 45.000 RON and 2 employees can apply only one time for profit taxation which is capped at 16%.

Contabiz Expert Accounting

Setting the V.A.T. rates

Legal persons are exempt from V.A.T. payments on the basis of a 300.000 RON of  the companies fiscal value, respectively 88.500 Euros.

The V.A.T. rates are applied as follows:

  • 19% standard rate in Romania
  • 9% for food and non-alcoholic beverages, medical products and others
  • 5% for certain delivery services and for restaurants, hotels and others
  • 0% with right of deduction
  • 0% without right of deduction

The V.A.T. rate also implies the setting of the fiscal period, respectively monthly or quarterly tax payments, but also the tax application for cashing or on term.

Contabiz Expert Accounting

Immediate Obligations

The first steps as a company administrator imply the following immediate obligations, as follows:

  • Transforming the share capital account into the company’s current account
  • Purchasing a company stamp
  • Contracting accounting services from a C.E.C.C.A.R. certificated company
  • Empowering the accounting expert to file tax returns
  • Purchase of required accounting records
  • Acquisition of the invoice issuance and cash register program
  • Acquisition of a cash register

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