Romania tax residency & company - Need input

[mike28]

Hello,

Happy to have recently (and randomly) discovered this community and forum. I've done a fair bit of research and read the last 10-15 threads on Romania.

I'm a Canadian currently seeking to change tax residency as I spend very little time in my home country. I am looking for a place that does not require a 183 day stay per year and has optimal taxation. After some back and forth (amongst other Dubai, Bulgaria, Estonia), it seems that Romania would suit my situation best, with the micro-company and tax residency (by renting an apartment) would provide the most flexibility.

I have 2 sources of income: remote employment with a US company starting in a few weeks and a business (corporation) in Canada. I wanted some input before contacting the appropriate agencies to initiate the process.

Remote employment:
-Will I need to have the US employer pay me directly in a Romanian bank account or can I do it through my Canadian bank account?
-In case I do, is it best to be paid under my personal Romanian bank account or in my Romanian company's bank account?

Corporation in Canada:
-Most of the clients are in North America. Can I continue to use this corporation and receive funds in its bank account in Canada, or will it be preferable to receive funds directly in the Romanian bank account?

I have found 2 agencies by reading threads here to assist in setting this up in Romania, however if anyone has a firm to refer please do. I am also looking at a reliable source to start looking for a rental (before I head there) that will be needed to become a tax resident.

Thanks

 

[Martin Everson]

Remote employment:
-Will I need to have the US employer pay me directly in a Romanian bank account or can I do it through my Canadian bank account?
-In case I do, is it best to be paid under my personal Romanian bank account or in my Romanian company's bank account?

I would discuss this with a tax advisor.

Corporation in Canada:
-Most of the clients are in North America. Can I continue to use this corporation and receive funds in its bank account in Canada, or will it be preferable to receive funds directly in the Romanian bank account?

Again this is best for a tax advisor.

P.S It may not be the answers your looking for but anything involving the US your best to get help from a tax advisor.

 

[Hyacinth]

Remote employment:
-Will I need to have the US employer pay me directly in a Romanian bank account or can I do it through my Canadian bank account?
-In case I do, is it best to be paid under my personal Romanian bank account or in my Romanian company's bank account?

Corporation in Canada:
-Most of the clients are in North America. Can I continue to use this corporation and receive funds in its bank account in Canada, or will it be preferable to receive funds directly in the Romanian bank account?

Always get paid in company account, you can get dividends in your personal account at the end of the year (legislation & accounting requirements) - Use local bank account to avoid issues.

NOTE: This is NOT considered legal or financial advice

 

[accountantromania]

The tax system of Romania might be more favourable then the one in Canada, depending on you KPIs.