Starting a business in Romania is an exciting opportunity, but one of the most common questions entrepreneurs ask is: “How long does it take to register a company in Romania?” The answer depends on several factors, such as the type of company you want to register, the complexity of your setup, and how well-prepared you are with the necessary documentation.
This article breaks down the registration process step by step, providing a realistic timeline and useful tips to ensure everything goes smoothly.
Understanding the Basics of Company Registration in Romania
Before diving into the timeline, it’s important to understand the key steps involved in registering a company in Romania. The process includes choosing the right business structure, preparing the required documentation, and completing the formalities with Romanian authorities, such as the Trade Registry.
The most popular type of business in Romania is the SRL (Societate cu Raspundere Limitata), or Limited Liability Company. This structure is ideal for small to medium-sized businesses due to its flexibility and minimal capital requirements. Other options include SA (Joint Stock Company) and PFA (Authorized Natural Person).
Each business type has its own requirements, so the time needed to register a company may vary depending on your choice.
Step-by-Step Timeline for Registering a Company
Here is a general breakdown of the company registration process in Romania and how long each step typically takes:
- Choosing a Business Structure and Name (1-2 Days)
The first step is deciding on the legal structure of your business and selecting a unique name. The name must comply with Romanian naming rules and cannot be identical or similar to an existing company name. You can check the availability of your desired name online through the Trade Registry’s database.
- Preparing the Required Documentation (2-5 Days)
Once the name is approved, you need to gather the necessary documents, including:
- Articles of Incorporation
- Shareholder details
- Proof of registered office address
- Bank statements for initial share capital (minimum 1 RON for an SRL)
If you are a foreign investor, additional documents, such as translations and notarizations, may be required, which could extend the timeline slightly.
- Submitting the Application to the Trade Registry (1-2 Days)
After preparing your documents, the next step is to submit your application to the Trade Registry. This includes filing your incorporation documents, providing proof of payment for registration fees, and any other supporting materials.
- Review and Approval by the Trade Registry (3-5 Days)
The Trade Registry typically reviews applications within 3-5 business days. If everything is in order, they will issue your company registration certificate. Any mistakes or missing documents could delay this step, so it’s crucial to ensure your application is accurate.
- Opening a Business Bank Account (1-2 Days)
Once your company is registered, you’ll need to open a business bank account in Romania to manage your company’s finances. This is usually a straightforward process, but requirements may vary between banks.
- Tax Registration and Other Formalities (1-3 Days)
Finally, you need to register your company with the tax authorities to obtain a unique tax identification code. Depending on your business activities, additional permits or licenses may be required, which could extend the timeline.
How Long Does It Really Take?
On average, registering a company in Romania takes between 7 and 14 business days, assuming all documents are in order and there are no delays. However, this timeline can vary based on factors such as:
- The complexity of your business structure
- The accuracy of your application
- Additional requirements for foreign investors
- Workload at the Trade Registry
Working with experienced legal advisors can significantly reduce the risk of delays and help you complete the process more efficiently.
Common Challenges and How to Overcome Them
Even with a straightforward process, entrepreneurs often encounter challenges during company registration. Here are some common issues and how to address them:
- Document Errors: Small mistakes in your application can lead to rejection or delays. Double-check all documents and consider hiring a legal expert to review them.
- Unavailable Business Names: Ensure you have a backup name in case your first choice is already taken.
- Language Barriers: For foreign investors, Romanian legal requirements may be difficult to navigate. Partnering with a bilingual legal team can make the process easier.
- Additional Licenses: Certain industries require special permits or authorizations, which can extend the timeline. Research your industry requirements in advance.
Why Work with Legal Professionals?
Navigating the registration process on your own can be time-consuming and overwhelming. Legal professionals specialize in ensuring that your application is complete, accurate, and compliant with Romanian regulations. Here’s how they can help:
- Handle all paperwork and communication with authorities.
- Advise you on the best business structure for your goals.
- Ensure that you meet all legal requirements, saving you time and money.
- Provide ongoing support after registration, including tax and accounting advice.
By working with experienced legal advisors, you can focus on growing your business while they handle the complexities of the registration process.
Let Buju, Stanciu & Asociatii Help You
At Buju, Stanciu & Asociatii, we have extensive experience in helping entrepreneurs and investors establish their businesses in Romania. From selecting the right business structure to managing all legal formalities, we provide end-to-end support to ensure your company is registered efficiently and in compliance with Romanian law.
If you’re wondering “How long does it take to register a company in Romania?”, let us help you streamline the process and avoid unnecessary delays. Contact us today to learn how we can assist you in setting up your business and navigating the Romanian legal landscape with confidence.
