Note on the creation of an LLC “SRL” in ROMANIA

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The SRL (limited company), equivalent of the SARL in France is the form of organization of a company most used in ROMANIA.

She has limited liability before the law and its owners.

It is also one of the safest montages for associates.

LLC “SRL” is also the cheapest way to start a business with a registered capital of 200 RON (about 45 EUR).

The creation of this type of company can be made within 3 working days after filing the file with the commercial register in the area where the company’s head office is located.

The legislation of LLC “SRL” in ROMANIA:

The law governing the acts and the steps necessary for the establishment of the LLC “SRL” is the law on companies no. 31/1990 – with amendments (Act No. 163/2018).

In addition, associations within an LLC “SRL” are only responsible for the registered assets of the company.

The number of partners is limited to 50.

However, a natural or legal person may be a sole partner.

The steps to follow for the creation of an LLC “SRL” in ROMANIA:

In order to be able to create an LLC “SRL” in ROMANIA the following steps must be taken:

• Establish the social purpose of society;
• Primary and secondary activities must be established in accordance with the CAEN code classification;
• It is necessary to reserve the name of the future company (once the verification on the site of the Register of Commerce made);
• Specify the legal form of the company, in this case an LLC “SRL”;
• The registered office of the registered company must be established at “ANAF” (provide a proof of address such as a deed of ownership or lease);
• Write the articles of association and deposit the share capital (minimum 200 RON, ie approximately 45 EUR) at a bank;
• File the entire file in the commercial register for registration purposes.

Way of taxation of LLC “SRL” in ROMANIA:

There are two possibilities of taxation:

The LLC “SRL” will have to pay a 3% tax on the turnover:

As an example, if a product or service, is sold at 100 RON (about 22 EUR) + VAT (for companies subject to VAT) or 100 RON final price (for companies not subject to VAT), a tax of 3 RON (about 0.67 cents).

The payment of taxes is quarterly in the month following a calendar quarter.

The LLC “SRL” will have to pay a tax of 16% on the profit:

The LLC “SRL” will have to pay a tax of 16% on the profit, the difference between the income and the expenses.

As an example, if we have an income of 100 RON and expenses incurred to obtain this income, amounting to 90 RON, the profit is 10 RON and a quarterly tax of 1.6 RON will have to be paid.

In both cases, after paying this tax to the state, you must also pay 16% tax on dividends.

In order to decide what type of tax is right for your business, you need to calculate in advance the profit margins you will be working on.

However, if you exceed a turnover of 65 000 €, you will automatically be included in the category of payment of the income tax.

The cost for the creation of a LLC “SRL” ROUMAINE:

The cost for the creation can vary in between 400 RON and 1000 RON,( in between 90 EUR and 225 EUR).

The cost of domiciliation of a SARL:

The cost of domiciliation of an LLC varies between 150 and 300 EUR per year.

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