This sounds like a better alternative to Belize & Seychelles now while these two jurisdictions have been blacklisted by the Cyprus banks. Wonder if it is possible to open accounts in Cyprus for a Romanian company. I will have to do some research on this.
Anyway, I assume that the tax regulations that apply are the same as in any EU country. So private income, money you take out of the company, has to be taxed in your home country. This would mean that only if you keep the money in your company you may avoid taxes.
What privacy does Romania offer? nominees, other?