OPENING A BANK ACCOUNT IN ROMUNIA

OPENING A BANK ACCOUNT IN ROMANIA

Opening a bank account for an individual or a legal entity (company) takes an average of one day, and the account can be opened in any currency.

To open an account in Romania, you need:

• To be personally present to all the founders or the head of the company;
• have passports of all founders or the passport of the manager;
• original and copy of registration documents.

During the opening, personal presence is required, in the future, the account can be disposed of by proxy.

How to open a bank account in Romania for Ukrainian refugees?

Eastern European banks are leading in terms of loyalty and tolerance towards Ukrainian refugees. And the Romanian ones, in particular, are among the most attractive among them.

Banc Post S. A. – offers banking services aimed at serving private individuals and small and medium-sized businesses. The bank has been operating for more than 25 years. During this time, it was able to prove itself as a stable financial institution capable of functioning in crisis conditions.

BCR – Banca Comerciala Romana – the bank’s services include the possibility of opening a personal account by a non-resident in any currency valid on the territory of the EU. The financial organization offers lending services to the local population and small businesses. In addition, among Romanian citizens, BCR is popular as a bank with the highest deposit interest rates compared to other local institutions.

Vanguard Securities – is characterized by an extremely high speed of processing applications and transactions. Opening an account requires a personal presence at the bank’s representative office, and internet banking services are provided to manage your own bank account.

Banca Transilvania – serves a large number of investment funds, including in Russia. The bank offers a full range of services in servicing deposit and savings accounts. For the convenience of customers, it provides the service of remote bank account management using Internet banking.

Raiffeisen Bank is one of the largest financial organizations in Europe. It has branches and representative offices in almost every European country. The bank is characterized as an institution with an increased confidentiality and security system. A personal meeting with the manager is mandatory for registration.

Advantages of opening a bank account in Romania

• Having a bank account in a Romanian financial institution allows its owner to engage in financial transactions not only in Romania, but also in the rest of the European Union.
• Variety of specializations of banking institutions in Romania. Today, this country operates both multidisciplinary financial institutions that provide services to various business segments, as well as narrowly specialized organizations that serve companies whose activities are related to a specific industry (for example, engineering, shipping, metalworking industry, etc.).
• The quality of service in Romanian banks is increasing every year. Today, clients of Romanian banks can take advantage of a full list of financial services necessary for effective business activities.
• Romanian banks provide customer deposits, private and corporate accounts with a high degree of protection (updated annually).
• The Government of Romania has developed a package of bills that significantly simplifies the procedure for registering a bank account for both residents and non-residents.

Opening an account in a Romanian bank gives an opportunity

• Safely store your funds in a European bank
• Receiving wages for employed persons in Romania
• Non-cash payment for services and goods
• Replenishment of non-resident bank cards
• Use a bank card without restrictions
• Receive funds on your own bank card in Romania
• Use of Internet banking

To open an account in a Romanian bank, it is necessary to personally come to the bank branch and provide the necessary documents.

What documents are required to open an account in Romanian banks for legal entities

As a rule, when requesting to open a bank account for a legal entity, you should prepare:

• Copies of passports/identity cards of administrators (directors) and shareholders;
• Company charter;
• A copy of the registration certificate issued by the Romanian Trade Register;
• Extract from the trade register (not older than 7 days) and sample signatures.

In the case when the shareholder of a Romanian company is another legal entity, banks usually require a decision of the shareholders to establish a Romanian company.

What documents are required to open a bank account in Romania for individuals

• Identity document (passport, ID card)
• Document on registration of place of residence
• Permit for legal stay in the country

In addition, you may need:

• Income statement
• Statement from financial institutions whose services the client previously used
• Credit history confirming the client’s conscientious fulfillment of obligations to creditors.

Assistance in opening a bank account in Romania includes consulting a lawyer on the availability of appropriate documents for opening an account, conditions for opening an account, bank tariffs, escorting to the bank, assistance in filling out bank documents, and other services in the banking sector.

Opening and maintenance of an account in a Romanian bank – this is one of the main activities of our lawyers and economists. Sign up for a consultation and see for yourself the professionalism

Importantly! On the websites of many banks, there are hotlines that you can call and find out all the information yourself, but you may encounter the problem of not understanding the Romanian language or banking terminology in Romanian. That is why we recommend that you sign up for a consultation with the lawyers of Prikhodko and Partners before contacting the banks.