Prikhodko&Partners
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International corporate law
Business Setup and Support in Romania Opening a bank account for legal entities in Romania

Mykola Sirenko

Lawyer

E-mail

sirenko@prikhodko.com.ua

Phone numbers

Expert in corporate and international corporate law. Has extensive experience in supporting the acquisition of financial licenses in Ukraine, as well as business incorporation in the EU, the United Kingdom, Switzerland, the UAE, and key Asian jurisdictions.

Opening a bank account for legal entities in Romania

As we can see from practical experience, opening a bank account for legal entities in Romania has many advantages, including access to the single European market and the convenience of financial transactions within the EU and other parts of the world, and given the favorable tax conditions, we can conclude that this jurisdiction is an excellent choice for business operations in general.

We, as the law firm “Prikhodko and Partners”, with many years of experience, provide comprehensive services for opening bank accounts in Romania for legal entities, and we also offer not only qualified assistance, but also guarantee speed, reliability and full compliance with the country’s legislation.

How to open a bank account for a company in Romania?

Although the procedure for opening a bank account for legal entities in Romania is standard, there are certain requirements that must be followed.

Bank selection: The first step is to choose a bank that meets your company’s needs. Romania has both large international banks and local financial institutions offering different service conditions.
Preparation of documents: Each bank has its own document requirements, so it is important to know exactly what documents you need to provide to open an account.
Submitting an application: After preparing all documents, you must submit an application to open an account.
Document verification: The bank checks the submitted documents, which may take from several days to a week, depending on the complexity.
Obtaining details: After approving your application and verifying your documents, the bank will provide you with account details and access to online banking.
What documents are required to open a bank account?

To open a bank account for a legal entity in Romania, the following documents are required:

Company documents:

Company charter.
Certificate of registration in the Trade Register of Romania.
Fiscal Identification Number (CUI) code.
Documents confirming the company address.

Identification of the directors and owners of the company:

Passport or national ID document of the director/owner.
Proof of the director’s residential address (e.g. utility bill).

Other documents:

Bank questionnaire (provided by the bank itself).
Tax returns or financial statements (if available).

Basic requirements for opening a bank account

Legal status of the company: The company must be registered in Romania and have a legal status that allows it to conduct business in the country.
Company activities: The bank may request details about the type of business your company does, especially if it is a company that does international transactions.
Owners and directors: The bank may check the credit history and reputation of individuals who have key roles in the company.
Minimum deposit: Some banks may require a minimum deposit to open an account, although this depends on the specific institution.

Procedure for opening a bank account

Typically, the procedure for opening a bank account for legal entities in Romania is as follows:

Preparation of documents: Collecting all necessary documents and filling out the bank questionnaire.
Submitting an application to the bank: Submitting an application to open an account, after which the bank checks the submitted documents.
Interview with bank representatives: Some banks may require a personal meeting with representatives of your company to confirm the identity of the directors or founders.
Getting a solution: After successfully completing all checks, the bank will provide you with account details.
Carrying out operations: After receiving the details, your business can begin operations using the account.

It will also be useful: HOW TO OPEN A BANK ACCOUNT IN ROMANIA

How much does it cost to open a bank account in Romania?

Please note that the cost of opening a bank account for legal entities in Romania may vary depending on the selected bank, account type and other requirements, but the average costs are:

The cost of supporting account opening: from 700 euros.
Monthly maintenance: 5–50 euros.
International transfer fees: 15–50 euros (depending on the amount and the bank)).

Main difficulties when opening an account for legal entities

We would like to draw your attention to the fact that when opening an account in Romania, there are certain difficulties that legal entities may encounter:

The need to comply with local rules: Romanian legislation changes frequently, and it is important for foreign companies to closely monitor changes in tax and banking requirements.
Checking the company’s financial stability: Some banks may carefully review your company’s financial history, especially if it has foreign investors.
Uncertainty about requirements: Different banks may have different requirements, which can complicate the process if you are not familiar with local specifics.

Is there an alternative to a bank account?

In addition, in Romania there is an alternative to a traditional bank account, companies can use financial platforms such as FinTech solutions or e-banking, which allow transactions to be carried out without the need to open a traditional bank account.

How can we help you open a bank account in Romania?

The law firm “Prikhodko and Partners” is ready to provide you with a full range of services: from choosing a bank to full support of the account opening process.

We will help you avoid possible complications, save time and focus on developing your business with stable and effective banking support.

Calculate the cost of services

1 question

Do you have experience working with banks in Romania?

Yes

2 question

Do you have a ready-made business in Romania?

Yes

3 question

Do you need advice on opening an account for a legal entity in Romania?

Yes

Is it mandatory to have a legal address in Romania?

Yes. During registration, you must provide a document confirming the right to use the premises at the address of the future registered office. For foreign owners, this can be a lease agreement or a legal address service.

Is it necessary to immediately register as a VAT payer?

Not always. The need for VAT registration depends on the planned turnover, type of activity, work with EU clients, imports or exports, and other specifics of the business model. Before launching, it is worth assessing the tax burden and choosing the optimal registration option.

Why shouldn't you just add all possible CAEN codes to the company?

Activity codes affect not only formal registration but also bank compliance, contracts, obtaining permits, and further business scaling. From 2025, the CAEN Rev. 3 classifier is applied in Romania, so the list of codes is better formed according to the actual sources of income and the planned work model.

Successful cases on the topic: