Starting a Construction Company in Romania

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Setting up any type of company in Romania contains many advantages due to the advantageous geographical position, the large number of natural resources, the openness towards foreign investors and many others.

            The country is continuosly growing both from an economic and a population  point of view. Cities are expanding this meaning a wide range of opportunities for new constructions. This is one of the main reasons why Romania is so attractive for seting up a construction company.

            If you want tostart your Romanian Construction Company first you shall have to decide whether you want a limited liabilited company or a joint stock one. It would be easier at first to start with a limited liability one and then you may change it into a joint stock company.

            Then you should which NACE Codes you want for your company. There are specific construction codes such as NACE Code 4120 – Construction works of rezidential and nonrezidential buildings or 4211 – Construction works of highways and motorways.

            After you have decided upon these aspects you should register your company with the local Trade Register. This is done exactly through the method required for any other Romanian Limited Companies, respectively:

1) Reserving the company name;

2) Drafting the necessary documents such as affidavits, specimen signatures, Articles of Association and any other required documents;

3) Sending the documents to be notarized abroad or within Romania;

4) Translating the original documents received from the client;

5) Filing with the Romanian Trade Register;

6) Obtaining the Certificate of Registration in approx. 5 working days.

            After the registration of the company you may commence the activity. Bear in mind that for every contruction of a building you shall be required to obtain an authorization for this type of action.

             Legality Team would be able to provide legal assistance through the entire procedure. Contact us now!

1 thought on “Starting a Construction Company in Romania”

  1. Essam

    I want to know how much would it cost to establish a construction company in Romania.

    Moreover how many workers can I recruit form south Asia with this.

    Reply

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The main management structure of the company in Romania is the general meeting of associates / shareholders. The constitutive act establishes the rules for convening and adopting decisions and whether the exercise of the vote can be delegated by special mandate by the associate / shareholder who cannot take part in the meeting. In the limited liability company, each shareholder entitles the holder to one vote in the respective meeting. The general meeting of associates has the following main obligations: ✓ to approve the annual financial statement and to establish the distribution of the net profit. ✓ to appoint the administrators and the censors, to revoke / dismiss them and to discharge them, as well as to decide to contract the financial audit, when it is not obligatory, according to the law; ✓ to decide the pursuit of the administrators and censors for the damages caused to the company, designating also the person in charge to exercise it; ✓ to modify the constitutive act.
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The limited liability company is the most common form of company in Romania, being the legal entity that best serves the interests of investors both from the point of view of the reliability of the activity, and from the perspective of its management. The limited liability company is abbreviated "SRL" in Romania and is the equivalent of the American limited liability company Limited Liability Company (abbreviated to LLC) or the German economic structure "Gesellschaft mit beschränkter Haftung" (abbreviated to GmbH), or the structure called "limited" , the structure used in most Latin American states.
The limited liability company is characterized by:
✓ the character intuitu personae, which means that this economic structure is based on the trust between the associates;
✓ the division of the share capital into fractions called shares, which cannot be negotiable securities;
✓ the liability of the associates is limited to their contribution to the share capital.
The limited liability company may also have a single partner, natural or legal person, of Romanian or foreign nationality, who will be the owner of all shares. Instead, the maximum number of associates is 50 people.
At present, the Romanian law no longer conditions the subscription and payment of a certain amount as share capital.
Through registration, the company acquires legal personality, becoming, under the law, a collective subject of law. The conclusion given by the judge is sent, ex officio, to the Official Gazette of Romania for publication at the expense of the company and to the Financial Administration in whose territorial area is the main headquarters of the company for fiscal registration, mentioning the registration number in the Trade Register .

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