Cheap Romanian incorporation services?

[gnud]

Anyone knows about any reasonably priced Romanian incorporation services?

I've contacted a few that I found Googling but they want about 500 EUR for a SRL formation. Pretty expensive compared to just about any other jurisdiction.

 

[zerosugar]

Anyone knows about any reasonably priced Romanian incorporation services?

I've contacted a few that I found Googling but they want about 500 EUR for a SRL formation. Pretty expensive compared to just about any other jurisdiction.

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.

 

[gnud]

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.

Thanks but an UK LTD costs 20 GBP, an US LLC costs 150 USD, 500 EUR for a Romanian SRL is clearly a ripoff

 

[Sols]

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.

 

[gnud]

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.

Makes sense. I read they copied their judicial system from France.

 

[orangekangaroo]

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.

 

[gnud]

How about local services directly in Romania? Anyone has experience with them? There has to be way more options and competition than online.

 

[orangekangaroo]

How about local services directly in Romania? Anyone has experience with them? There has to be way more options and competition than online.

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.

 

[gnud]

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.

Why didn't he deliver? What's so hard about forming a company?

Or is this just a standard low level of quality of services? The services I found online look often carelessly put together with spelling mistakes etc

 

[Dexur]

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.

 

[gnud]

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.

450 RON (~ 90EUR) for a SRL formation, nice, that's exactly the type of service I was looking for, thanks!

 

[orangekangaroo]

450 RON (~ 90EUR) for a SRL formation, nice, that's exactly the type of service I was looking for, thanks!

Plus the rest. Check all the additional fees. Name reservation, company association articles etc. Maybe you could do for 250 / 300 euros inc VAT.

 

[gnud]

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 consider getting help. After all it's better to know all the ins and outs of what you're managing than being dependent on someone else.

btw do you write board meeting minutes in Romanian?

 

[gnud]

Got a reply from them, it's not 300 EUR for a basic registration. Prices are pretty reasonable.

I'd like Segd's comment twice if I can ...

 

[orangekangaroo]

Got a reply from them, it's not 300 EUR for a basic registration. Prices are pretty reasonable.

View attachment 2957

I'd like Segd's comment twice if I can ...

Good find.

 

[gnud]

Good find.

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.

 

[Dexur]

Got a reply from them, it's not 300 EUR for a basic registration. Prices are pretty reasonable.

View attachment 2957

I'd like Segd's comment twice if I can ...

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 pay taxes around 4 times a year, but I just accumulate fines and fly there twice a year to pay my taxes

 

[gnud]

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 pay taxes around 4 times a year, but I just accumulate fines and fly there twice a year to pay my taxes

"accumulate fines" lol

what are the revenue limits per quarter to be still eligible for the micro-company regime?

 

[uplana]

Did you had to go to Romania to set this up or to open a bank account ?

 

[gab1]

Got a reply from them, it's not 300 EUR for a basic registration. Prices are pretty reasonable.

View attachment 2957

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