Developing a business in Lithuania, the essential information to know when you are a non-resident director

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You are independent, entrepreneur, business manager and you want to create your company in Romania, information is essential to follow good management and develop your business safely.

Have you created your business model for how do you want to start your business in Romania?

Would you like to outsource your activity in Romania only by creating a branch, or create a new independent structure, to develop your activity on site or elsewhere.

How is the tax system in Romania, if I hire employees how will it be? What are the amounts of social charges?

How much does the creation of my company cost me in Romania. The good management of your business starts from the idea until the materialization then the launch and the development.

Let's learn together some things to know about Romanian company management.

In a few words, all in simplicity, we will send you this essential information for any good manager of Romanian company.

These are the different questions to ask?

New Company in Romania

Let's start from the Principle, that you want to create a new structure in Romania, an SRL which will develop in Romania, but also outside Romania.

What are the steps to follow to set up an SRL company, a limited liability company in Romania?

  • Reservation of the company name with the commercial register;
  • Signature of a domiciliation or rental contract for the space corresponding to the head office of the Romanian company;
  • Drafting and signing of the articles of association of the company (which most often takes the form of an LLC called SRL in Romania
  • Opening of the capital deposit account and payment of the share capital
  • Signing of declarations by the partners on the one hand and by the managers on the other hand according to which they meet all the conditions to be partners (or managers).

These declarations must be signed in front of a notary (Romanian or foreign (your place of residence)) and their main objective is to certify that the partners (or managers) have no debts towards the Romanian State, nor a tax history. in Romania and that they have never been prosecuted for commercial crimes.


Signing of powers of attorney in favor of the persons who will carry out the formalities before the commercial register. If you go through a firm such as Fidulink, to carry out your procedures without moving.

We offer a remote pack allowing you to focus on the essentials: the development of your Romanian business, without worrying about the administrative paperwork of setting up your business in Romania. We have a French speaking team, fully available.

Here is the link of our basic pack without travel:

https://marketplace-fidulink.com/accueil/140-pack-societe-roumanie.html

For a completely remote bank account opening, you must add the bank account opening without travel:

https://marketplace-fidulink.com/accueil/320-compte-bancaire-prive-sans-deplacement.html

Is it possible to create a company without traveling?


Foreigners who wish to create a Romanian company do not need to be present in Romania to carry out these formalities: they can indeed set up their business remotely, by means of powers of attorney by working in collaboration with an incorporation firm, firm accounting…
The founders can, for example, sign the documents (declarations, etc.) in front of a notary who stamps and apostilles them (certification outside your country of residence) from their country of residence and then send them to our agent responsible for carrying out the formalities which will translate them and present them to the Trade Register.

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Developing your business in Lithuania, the essential information

What are the 4 essential information on SRL in Romania?

  • Formation period On average 5 weeks
  • Minimum capital to be deposited: 200 RON, ie the equivalent of 80 euros entirely to be paid on creation.
  • Number of directors: only 1 minimum required
  • Minimum number of shareholders
    1 minimum required
  • Share value 10 RON minimum

Taxation to know in Romania: 

How is the tax system in Romania made up? You are concerned by 3 types of taxes:

Income tax:  

Profit tax in Romania is exempt for certain types of companies:

Exemptions from payment of income tax:

Micro-enterprises

Public institutions involved in a particular activity

Religious organizations

Educational institutions and professionals

Owner associations

A standard rate of income tax in Romania is 16%.

  • Owner association
  • Religious associations
  • Public institutions by activity
  • Micro-enterprises (Less than 1 annual turnover)

This tax will apply to foreign companies with a local subsidiary that generate turnover in Romania or an independent Romanian company.

Micro-business tax rates

Cannot be subject to income tax before having:

  • Two employees minimum
  • A minimum capital of 45 RON
  • Paid social and employer contributions
  • If you have one or more employees in Romania, your micro enterprise will only be liable for 1% of the overall revenue
  • A micro-enterprise in Romania without employees 3%
    on the overall recipe

Employer and salary charges from January 1, 2018

Social charges Employer's contributionSalary share
State social insurance (CAS) - pension0%25%
Social health insurance0%10%
Unemployment fund0%0%
Contribution for the payment of sick leave and compensation0%-
Insurance for accidents at work and occupational diseases *0%-
Labor insurance contribution2,25%-
Commission of the Territorial Labor Inspectorate **0,25%-
Total social charges2,25%35%

The Romanian minimum wage (Romanian minimum wage) was 1.450 RON per month (approximately 320 EUR) gross in 2017. It rose to 1.900 RON (approximately 410 EUR) on January 1, 2018.

Let's talk about the VAT rate in Romania for your Romanian business?

The normal rate is 19%

The reduced rates are:

  • 9% for catering services, accommodation services, medical equipment, etc.
  • 5% for art, press, cinema, places and cultural events.
  • 9% on hotel accommodation, food and beverage services, farm supplies, medical equipment, food services (less for alcoholic beverages), etc.
  • 5% on newspapers, magazines, zoos, cinemas, cultural events, etc.

Do you know if you can invoice with or without VAT

European VAT threshold for the distance selling regime -

VAT sales threshold in Romania

Member stateVAT threshold WHAT
Romania118 RON (000 €)

For all requests concerning the creation of a company in Romania with our full support, please contact us by email contact@fidulink.com or visit our website: www.fidulink.com

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