Cheap Romanian incorporation services?
- Thread starter gnud
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If you have time contact some corporate romanian lawyers and compare their prices. If your time has a higher value than 500 EUR then pay 500.
500 isn't even expensive look at all the other offshore resellers they usually charge 1,5k for what costs 500 at a local lawyer.
500 isn't even expensive look at all the other offshore resellers they usually charge 1,5k for what costs 500 at a local lawyer.
UK and US have laws and procedures in place specifically to make starting a business quick and easy. There is huge competition between service providers, which further push the costs down.
Romania does not have that. It's a bureaucratic hellscape with extremely low interest from non-resident foreigners, which means those that do offer their services in English and accept foreigners can charge extra for it.
Romania does not have that. It's a bureaucratic hellscape with extremely low interest from non-resident foreigners, which means those that do offer their services in English and accept foreigners can charge extra for it.
The cheapest you can find in Romania is about 400 euros. I paid 450 euros for my Romania setup. You can do the setup all remotely, however, if you want residency or opening of bank accounts you will need to pay a visit.
It will not be much cheaper, I tried locally for 350 euros and the guy did not deliver, fortunately, I had not paid but I lost 3-4 weeks time. 2n time lucky I found an excellent and professional provider.
I paid around 2.5k for my formation (half of that for local VAT), but it was very unprofessional and slow.
You can find those guys from the first results of Google 🙂
My current accountant also provides those services, but their price for everything is 3-4 times cheaper. Called Reinvent Consulting. They even have some cheaper bundle for creation + accounting.
You can find those guys from the first results of Google 🙂
My current accountant also provides those services, but their price for everything is 3-4 times cheaper. Called Reinvent Consulting. They even have some cheaper bundle for creation + accounting.
Plus the rest. Check all the additional fees. Name reservation, company association articles etc. Maybe you could do for 250 / 300 euros inc VAT.
You don't need to reserve a name. You just specify one when setting up a company.
Articles of association for example: Model Act Constitutiv | PDF
None of these fees are necessary, just optional. Just like I didn't pay $200 for an EIN, and did it all myself. As a one man company everything is very basic and common, you don't need any special assistance. Only when google search and translate fails me, I'd consider︀ getting help. After all it's better to know all the ins and outs of what︁ you're managing than being dependent on someone else.
btw do you write board meeting minutes︂ in Romanian? 🙂
Articles of association for example: Model Act Constitutiv | PDF
None of these fees are necessary, just optional. Just like I didn't pay $200 for an EIN, and did it all myself. As a one man company everything is very basic and common, you don't need any special assistance. Only when google search and translate fails me, I'd consider︀ getting help. After all it's better to know all the ins and outs of what︁ you're managing than being dependent on someone else.
btw do you write board meeting minutes︂ in Romanian? 🙂
I talked to them more yesterday, incorporation takes about 5-7 working days. Once this is done you can do business with non-EU clients. For EU clients you'll need intra-community VAT, which will take some time. Upon registration they also open a bank account for you.
Glad to hear I could help 🙂 I have also a rental agreement with them, cheap and nice. Accounting is also alright (around 45e). Unfortunately, I'm not an EU citizen yet, so no bank account for me ( have to use Wise + cash for taxes ). But it depends on the bank you're trying to open the account. I got declined once and decided not to bother. You need to pay︀ taxes around 4 times a year, but I just accumulate fines and fly there twice︁ a year to pay my taxes 🙂
Thanks for posting that.
- Regarding their accounting fees, they state fees per month "per 10 documents", 20 documents etc. What do 'documents' refer to? Transaction receipts? What if I had 100 transactions (e.g. sales of software)?
- Regarding the bank account, as was asked above, do I have to physically go to Romania, or can they open it for me? If I have to go there, how quickly do I need to do that after incorporation? Can't I use Wise Business?
If you get those details clarified, please update us 🙂
- Regarding their accounting fees, they state fees per month "per 10 documents", 20 documents etc. What do 'documents' refer to? Transaction receipts? What if I had 100 transactions (e.g. sales of software)?
- Regarding the bank account, as was asked above, do I have to physically go to Romania, or can they open it for me? If I have to go there, how quickly do I need to do that after incorporation? Can't I use Wise Business?
If you get those details clarified, please update us 🙂
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