Every week, we receive questions from foreigners living in Romania who are considering opening their own business. Some are freelancers who want to invoice legally. Others are remote workers planning to relocate permanently. Many are entrepreneurs who discovered that Romania can still offer relatively accessible administrative and tax conditions compared to parts of Western Europe.
Because of these recurring questions, we decided to prepare this practical overview to help expats understand the most common business forms in Romania, the approximate startup costs, and the administrative obligations they should expect.
To make this article more concrete, we contacted two Romanian companies specialized in company formation and asked them for real quotations and procedural details. Their responses reveal something very important: the actual cost of opening a company in Romania can vary significantly depending on whether you are a Romanian citizen or a foreigner, whether you already have an address for the company headquarters, and whether you also need accounting and digital compliance services.
This article is not legal advice, but a practical orientation guide based on direct quotations received in 2026.
The Most Common Business Forms in Romania
When foreigners speak about “opening a company” in Romania, they are usually referring to one of these structures:
- SRL (Limited Liability Company)
- PFA (Authorized Freelancer / Sole Proprietor)
- Microenterprise taxation regime
- Individual professional activities
In practice, however, the overwhelming majority of expats eventually choose the SRL structure.
SRL (Societate cu Răspundere Limitată)
The Romanian SRL is roughly equivalent to a limited liability company in many European countries.
It offers:
- Separate legal identity
- Limited personal liability
- Better credibility with clients
- Easier access to B2B contracts
- Possibility to hire employees
- Access to the Romanian microenterprise taxation regime (under certain conditions)
For IT consultants, freelancers, digital nomads, agencies, import/export activities, and online businesses, the SRL is generally the preferred option.
Today, Romania no longer requires a significant minimum share capital for SRLs. In practice, the administrative complexity is much lower than in many Western European jurisdictions.
However, foreigners should not underestimate the bureaucratic side of the process.
PFA (Authorized Physical Person)
The PFA structure is closer to self-employment or freelancing.
It may appear simpler initially, but it also comes with limitations:
- Personal liability is not separated from the individual
- Certain business activities may be restricted
- Banks and clients sometimes perceive PFAs as less structured
- Taxation may become less advantageous above certain income levels
Many expats initially consider a PFA because of its apparent simplicity, but later migrate to an SRL once their business grows.
Why Foreigners Usually Need Additional Services
One important detail that surprises many newcomers is that opening the company itself is only the beginning.
In Romania, businesses quickly become exposed to:
- eFactura obligations
- SPV (ANAF online portal)
- Digital signatures
- Accounting compliance
- Payroll obligations
- Tax declarations
- Annual and quarterly reporting
Even very small companies usually require an accountant.
This is one reason why many formation agencies now bundle incorporation with monthly accounting subscriptions.
Quotation #1: StartCo (23/04/2026)
We contacted StartCo and requested information about SRL formation and accounting services.
According to their response, the basic cost for establishing an SRL is:
- 699 RON service fee
- Plus starting from 152 RON in Trade Registry publication fees
This means that, in simple cases, the total startup cost can begin at around 850–900 RON.
However, this only covers the incorporation itself.
StartCo also offers subscription packages that combine company formation with accounting services.
Their quoted package was:
- 70 EUR/month + VAT
- Includes free SRL incorporation
- Assumes:
- Non-VAT company
- One employee
- Maximum 20 accounting documents per month
What Is Included in Their Accounting Package?
The list is extensive and gives a good idea of how much bureaucracy Romanian companies actually face.
Their accounting service includes:
- Bookkeeping registration
- Payment and receipts journals
- Sales and purchase journals
- Tax declarations
- Submission of declarations
- Tax calculations
- Payroll processing
- Employee registry management
- Monthly accounting balances
- Fixed asset tracking
- Assistance during fiscal inspections
One important detail is that quarterly and annual balance sheets are billed separately, with a cost equivalent to one additional month of accounting.
This means the real annual accounting cost may be higher than the advertised monthly subscription.
Quotation #2: Colectiv Patet (22/04/2026)
We also contacted Colectiv Patet, a Romanian legal and company formation service.
Their quotation reveals a very important distinction:
Romanian Citizens vs Foreign Citizens
For Romanian citizens:
- SRL formation cost:
- 550 RON
- Plus headquarters hosting:
- Between 350 and 1000 RON depending on city/location
For foreign citizens:
- SRL formation cost:
- 1800 RON
- Plus headquarters hosting:
- Between 350 and 1000 RON
This is a major difference and reflects the additional documentation and compliance procedures usually required for foreigners.
In other words, foreigners may realistically spend between 2200 and 3000 RON just to establish the company if they also require registered office hosting.
The Importance of a Registered Office
Romanian companies must have a legal headquarters (“sediu social”).
If you own property in Romania, you may sometimes use it.
However, many expats:
- Rent apartments where business registration is restricted
- Do not yet own property
- Prefer privacy
- Want a more professional address
Because of this, many formation firms offer headquarters hosting services.
The price depends heavily on the city and district.
Bucharest is generally more expensive than smaller cities.
The Electronic Signature: Almost Mandatory Today
One of the most useful observations from Colectiv Patet concerns the electronic signature.
In Romania, digital interaction with authorities is becoming increasingly mandatory.
You will likely need a qualified electronic signature for:
- eFactura
- ANAF SPV portal
- Tax certificates
- Fiscal records
- Online procedures
- Employee reporting
The agency strongly recommended obtaining a digital signature immediately rather than paying notarial power-of-attorney fees.
They specifically referenced CertSign as a common Romanian provider.
They also noted an important detail for foreigners abroad:
- Physical token signatures may be difficult to deliver internationally
- Cloud-based signatures may be more practical
This is particularly relevant for digital nomads or non-residents preparing the company remotely.
Additional Hidden Costs Expats Should Expect
One common mistake is assuming that the incorporation fee is the total startup cost.
In reality, additional expenses often appear quickly:
Typical Additional Costs
Accounting
Usually:
- 60–150 EUR/month for small companies
Depending on:
- VAT registration
- Number of invoices
- Employees
- Payroll complexity
Electronic Signature
Approximately:
- 40–80 EUR/year
Depending on provider and token/cloud solution.
Registered Office Hosting
Usually:
- 350–1000 RON/year
Depending on location.
Annual Financial Statements
Often billed separately by accountants.
Payroll Services
If you hire employees, accounting costs increase significantly.
VAT Complexity
Romanian VAT rules can become extremely technical, especially for:
- EU invoicing
- OSS/IOSS systems
- Digital services
- Imports
- International consulting
Many foreigners underestimate this aspect.
How Long Does It Take to Open a Company?
According to Colectiv Patet:
- Approximately 5–7 working days after signing the power of attorney or completing the electronic signature process.
In practice, delays can occur because of:
- Name reservation issues
- Incorrect documentation
- Translation requirements
- Foreign documents
- Banking procedures
Romanian bureaucracy can sometimes move surprisingly fast — or surprisingly slowly.
What Documents Are Usually Required?
The agencies generally requested:
- Passport or ID copy
- Several proposed company names
- Phone number
- Sometimes proof of address
- Occasionally translated documents
Foreigners may additionally require:
- Fiscal identification procedures
- Apostilles or translations
- Additional declarations
Requirements vary depending on nationality and residency status.
Banking Is Often the Real Challenge
Ironically, opening the company is sometimes easier than opening the business bank account afterward.
Foreign entrepreneurs may encounter:
- Enhanced compliance checks
- Requests for proof of activity
- Questions about source of funds
- Residency verification
- Additional documentation
This is especially true for non-EU citizens.
Even EU citizens may experience delays compared to local entrepreneurs.
Is Romania Still Attractive for Entrepreneurs?
Despite the bureaucracy, many foreigners still choose Romania because:
- Company formation remains relatively inexpensive
- Accounting costs are lower than in Western Europe
- Digital administration is improving
- The IT sector is well developed
- Living costs can still be competitive
- English is widely spoken in business environments
However, Romania is not a “bureaucracy-free paradise.”
Many expats discover that daily administrative reality differs from the simplified online narratives often promoted on YouTube or social media.
Final Thoughts
If you are planning to create a company in Romania, the most important advice is simple:
Do not calculate only the incorporation fee.
The real costs usually include:
- Accounting
- Digital signatures
- Registered office hosting
- Tax compliance
- Banking administration
- Annual reporting
For many foreigners, the SRL remains the most practical structure, especially for consulting, freelancing, IT, remote work, and international business activities.
Still, every situation is different.
Your nationality, residency status, expected turnover, and business activity can significantly influence both costs and obligations.
For this reason, speaking with both an accountant and a company formation specialist before starting the process is highly recommended.