Romania. Eastern Europe. EU member. Corporate tax rate of 16%. Not the lowest, but not punitive either. I’ve been watching this jurisdiction for years, and honestly? It’s one of those places that doesn’t actively try to fleece entrepreneurs at every turn. Still, you need to know what you’re walking into financially before you commit.
Let me be blunt: setting up a Societate cu Răspundere Limitată (SRL) — that’s Romania’s Limited Liability Company — isn’t expensive by Western European standards. But it’s not free either. And the recurring costs? They add up if you’re not strategic.
What You’ll Pay to Get Started
First, the sunk costs. These are the fees you pay once and never see again. Registration, notaries, legal work. The usual suspects.
| Item | Cost (RON) |
|---|---|
| Trade Register (ONRC) name reservation fee | 72 |
| Official Monitor publication fee | 122 |
| Notary fees (affidavits, specimen signature) | 250 |
| Professional legal/incorporation fees (average) | 1,000 |
| Total Sunk Costs | 1,444 |
So you’re looking at 1,444 RON ($325 USD) in direct incorporation costs. That’s clean. Transparent. No hidden nonsense in the basic filing process.
But wait. There’s the capital requirement.
The Minimum Capital Trap
Romania requires you to deposit 500 RON ($112 USD) as minimum share capital. Must be paid upfront. No exceptions. This money technically belongs to the company, but let’s be honest — it’s locked in, and you can’t touch it freely without proper corporate justification. Factor it into your liquidity planning.
Total real outlay to incorporate? Around 1,944 RON ($437 USD) when you include the capital deposit.
Not bad. I’ve seen worse. Much worse.
The Recurring Costs: Where They Really Get You
Here’s the part most incorporation guides conveniently gloss over. Annual maintenance. The slow bleed.
Romanian companies aren’t particularly expensive to maintain compared to, say, Scandinavia or Germany. But you will need professional help unless you’re fluent in Romanian tax law and enjoy filling out ANAF forms for fun.
| Annual Expense | Cost (RON) |
|---|---|
| Mandatory accounting and tax filing (starting rate) | 3,600 |
| Corporate bank account maintenance | 600 |
| Registered office/Virtual office (optional) | 2,400 |
| Annual legal compliance & documentation updates | 1,500 |
| Annual Range | 4,200 – 12,000 |
Your baseline? 4,200 RON ($945 USD) annually if you run lean. That assumes you already have a physical address and keep legal changes minimal. Realistically, expect closer to 8,000–10,000 RON ($1,800–$2,250 USD) once you factor in a virtual office and occasional compliance updates.
Accounting: Non-Negotiable
Romania mandates that all companies maintain proper accounting records and file regular tax returns. You cannot do this yourself unless you’re a licensed accountant. The starting rate for basic monthly bookkeeping and annual filings is around 3,600 RON ($810 USD) per year. If your company is active with multiple transactions, invoices, or employees, this cost can double or triple.
This isn’t unique to Romania. But it’s non-optional.
Banking: Keep It Simple
Corporate banking in Romania is straightforward. Local banks like Banca Transilvania, BCR, or Raiffeisen will open accounts for your SRL without drama. Annual fees run around 600 RON ($135 USD). Some banks charge per transaction. Others offer flat-rate packages. Shop around.
One tip: avoid the “premium business account” upsells. You don’t need them unless you’re processing serious volume.
Registered Office: The Hidden Variable
Every Romanian company needs a registered office address. If you don’t have a physical location, you’ll need a virtual office service. Costs range from 1,200 to 3,600 RON ($270–$810 USD) annually depending on the city and provider. Bucharest is pricier than Cluj-Napoca or Timișoara.
Some service providers bundle this with mail forwarding and phone answering. Useful if you’re running the company remotely.
The Real Picture
Let’s add it up. Year one:
- Incorporation: 1,944 RON ($437 USD)
- Annual maintenance (lean): 4,200 RON ($945 USD)
- Total first-year cost: ~6,144 RON ($1,382 USD)
If you add a virtual office and legal updates, push that to 9,000–10,500 RON ($2,025–$2,363 USD).
Every year after? Expect 8,000–10,000 RON ($1,800–$2,250 USD) in recurring costs if you’re operationally active.
Not outrageous. But not negligible either.
What They Don’t Tell You
The Trade Register (ONRC) is reasonably efficient. But Romania’s bureaucracy can still surprise you with random delays or requests for additional documentation. Language is a barrier if you don’t speak Romanian. Expect your lawyer or accountant to do most of the heavy lifting.
Also, watch the corporate law changes. Romania updated Law 31/1990 in recent years, tightening share transfer rules and capital requirements. The state likes to tweak things. Stay informed or pay someone who does.
Is Romania Worth It?
Depends on your flag theory setup. If you’re an EU resident looking for a low-maintenance, mid-cost corporate structure with access to EU banking and payment processors, Romania works. It’s cheaper than Western Europe and far less bureaucratic than Italy or Spain.
If you’re chasing zero-tax jurisdictions, this isn’t it. But Romania offers substance, banking access, and a functional legal framework. That has value.
Just don’t romanticize it. It’s a tool. Use it strategically.
I am constantly auditing these jurisdictions. If you have recent official documentation for company costs in Romania — especially updated fee schedules from ONRC or new compliance requirements — send me an email or check this page again later, as I update my database regularly.
For official registration info, visit the Trade Register homepage.