Head of International Corporate Law and Fintech Practice
Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.
Case: Helped a non-resident client successfully register a trading company in Romania
Client: Roman
Goal: opening a business in Romania
Business: stationery trade
Purpose: To help a non-resident client to successfully register a trading company in Romania, ensuring compliance with all legal, financial and administrative requirements
Registering a company in Romania for non-residents can seem like a complicated process, as it involves a number of legal, financial and administrative requirements.
However, the story of our client, Ukrainian entrepreneur Oleksandr, proves that with the right strategy and support, this process can be made as simple and effective as possible.
Stages of work
- Market analysis and business planning
The first step to successfully registering a company in Romania was an analysis of the IT services market. Our team conducted a detailed study of the Romanian stationery market, which allowed us to assess the demand for stationery and related products.
The client is interested in providing Ukrainian-made stationery for small and medium-sized enterprises. We also prepared a business plan, which included financial forecasts for the next three years, an assessment of competitors and the development of a marketing strategy.
- Choice of organizational and legal form
The client decided to register a limited liability company (SRL – Societate cu Respondere Limitată), as this type of company is the most common for small and medium-sized enterprises in Romania.
The choice of SRL was justified by the fact that this form allows limiting the liability of the owners and has simpler registration procedures compared to other types of companies.
- Obtaining a non-resident identification number (CIF)
Oleksandr, as a non-resident of Romania, needed to obtain a non-resident identification number (CIF). This number is mandatory for all legal entities, and without it it is impossible to conduct any commercial activity in the country.
We helped the client go through all the necessary steps to get this number.
- Company name reservation and registration
After receiving the CIF, we applied to the National Commercial Register of Romania to reserve the company name. After verification of the uniqueness of the name, confirmation and a certificate for its use were received.
This was an important step, as choosing a name for the company is one of the requirements for registering a business in Romania.
- Opening a bank account and depositing authorized capital
Next, we opened a bank account in the name of the future company. In order to register a company in Romania, a minimum share capital of 200 RON (approximately 40 EUR) is required.
The client decided to immediately contribute a larger amount to the authorized capital, EUR 40,000 was deposited into the company’s account, which gave us the opportunity to start the registration process.
- Preparation of constituent documents
We have prepared all the necessary founding documents of the company, including the articles of association, minutes of founders and other legal documents. After that, we turned to a notary to certify these documents.
The notary also issued a certificate on the payment of the authorized capital, which became necessary for submitting documents to the registration authorities.
- Registration in the Trade Register of Romania
After completing all the preparatory stages, we submitted documents to the Trade Register of Romania for the official registration of the company. After consideration of the submitted documents and confirmation of all requirements, the company was officially registered in the register of enterprises of Romania.
- Obtaining a tax number and registration in the social insurance system
After registering the company, Oleksandr received a tax number (CIF), which is necessary for conducting business and paying taxes in Romania. We also registered the company in the social insurance system of Romania, which allowed the client to fulfill the obligations regarding social contributions when hiring employees.
- Opening an office and hiring employees
After the company was registered, Alexander opened an office in Bucharest, where he began the process of hiring employees. He also signed contracts with several suppliers and launched an advertising campaign to attract customers.
Oleksandr and his team focused on developing software for local businesses that needed to automate their processes.
Result
Thanks to careful preparation and fulfillment of all legal requirements, we helped Oleksandr to successfully register a company in Romania. As a result, the company quickly adapted to the market and began to attract the first customers.
Within a few months, the company signed several contracts with well-known Romanian enterprises, which allowed to achieve stable financial growth.
Oleksandr’s successful experience shows the importance of the right approach and proper legal support when registering a business in Romania, as well as how our team at Prikhodko and Partners helps entrepreneurs realize their ideas in the international business environment.
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