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Romania

Romania Flag

Country: Romania
Region: Europe
Currency: Romanian leu (RON)
Languages: Romanian
Time Zone: UTC +2

Phone Code: +40

Communications: Very Good

Formation Cost: 3500 - 4300 USD$
Formation Time: 3 - 7 days
Maintenance cost: 2000 - 2400 USD$

Executive Summary: Bulgaria is situated in South Eastern Europe, bordering the Black Sea, between Bulgaria and Ukraine. The population is 21.7m. After decades under communist rule, Romania is embracing free market policies and is increasing its ties with Western Europe. The country joined the EU in 2007, and the Government hopes to adopt the euro in 2014. However, fiscal indiscipline led the Government to seek a USD26bn emergency loan from the IMF and the EU in 2008, and economic growth has been slow to return. With obsolete manufacturing industries now largely swept away, services make up 60% of the economy, although industry still accounts for 33%; electric machinery and equipment, light machinery and auto assembly, mining, construction materials, metallurgy, chemicals, food processing and petroleum refining are among Romania’s largest industrial sectors. Corporate tax is low at 16%, although EU membership has seen tax incentives removed, and corruption and red tape continue to hamper the business environment.

Suitable for: Banking, Shipping, Aviation, Trading Goods, Intellectual Property/Licensing, E-commerce, E-gaming, Property Ownership
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Limited liability companies, joint-stock companies, branches, sole proprietors, general partnerships, limited partnerships and silent partnerships

Capital primary business districts: Bucharest

Good Relationships: Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Moldova, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Turkey, United Kingdom

Bad Relationships: Burma, Libya, Somalia

Tax Burden - Business: Light

Tax Burden - Individual: Light

Headline tax rates: CIT 16%, PIT 16%, VAT 24%

Treaty Jurisdictions: Albania, Algeria, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Ecuador, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, India, Indonesia, Iran, Ireland, Israel, Italy, Japan, Jordan, Kazakhstan, Korea, Democratic People's Republic of, Korea, Republic of, Kosowo, Kuwait, Latvia, Lebanon, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mexico, Moldova, Montenegro, Morocco, Namibia, Netherlands, Nigeria, Norway, Pakistan, Philippines, Poland, Portugal, Qatar, Russia, San Marino, Saudi Arabia, Serbia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sudan, Sweden, Switzerland, Syria, Tajikistan, Thailand, Tunisia, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Vietnam, Zambia

TIEA Jurisdictions: Guernsey

Information Links:

 

 

 

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