This economy profile presents the Doing Business indicators for Romania. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June
1, 2014 (except for the paying taxes indicators, which cover the period January–December 2013).

Joining the European Union (EU) in 2007 was a driving force for reform and modernization. When the global financial crisis hit in 2008-09, Romania made a quick recovery thanks to prudent macroeconomic management

Overview of the Romanian Economy – This page summarizes Doing Business 2015 data for Romania. The first section presents the Ease of Doing Business rank (out of 189 economies) and the distance to frontier (DTF)** measure, overall and by topic. The second section summarizes the key indicators for each topic benchmarked against regional averages.

The business potential in Romania is very high due to a number of factors. Romania has the Biggest GDP in South Eastern Europe and is simultaneously the regional leader in South Eastern Europe for attracting FDI, including Greenfield and investment projects. As a result, Romania ranks 1st in the EU in terms of total investment share in GDP (24,6%).  

Why should one be interested in starting a business in Romania? Because the main goal of the Government is sustainable growth. Backing private entrepreneurs and stimulating entrepreneurship are central to the activity of the Executive.

The Law nr.31/1990 the Romanian law regulating the commercial companies their formation and the way they ought to conduct their activity, establishes 5 types of legal entities from which you can choose  in order to develop a business in Romania:

The Company Law regulates five types of commercial companies that are described on this site

This site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Romania. 

See “Registering a company” on this site

Key questions on personal income taxes in Romania answered on this site

The Sales Tax Rate in Romania stands at 24 percent. Sales Tax Rate in Romania averaged 20.88 percent from 2000 until 2015, reaching an all time high of 24 percent in 2010 and a record low of 19 percent in 2001. Sales Tax Rate in Romania is reported by the National Agency for Fiscal Administration (ANAF).

The Corporate Tax Rate in Romania stands at 16 percent. Corporate Tax Rate in Romania averaged 23.38 percent from 1995 until 2015, reaching an all time high of 38 percent in 1996 and a record low of 16 percent in 2005. Corporate Tax Rate in Romania is reported by the National Agency for Fiscal Administration (ANAF).

Romania companies pay tax on their Romanian and worldwide income. Non-residents companies pay tax only on Romanian source income. A foreign company is resident if the management is in Romania. 

The Personal Income Tax Rate in Romania stands at 56.50 percent. Personal Income Tax Rate in Romania averaged 43.70 percent from 1995 until 2014, reaching an all time high of 56.50 percent in 2013 and a record low of 40 percent in 1996. Personal Income Tax Rate in Romania is reported by the National Agency for Fiscal Administration (ANAF).

Romania being an EU member state falls under the EU VAT regime. Member states must adopt EU VAT Directives into their own legislation

Visa information regarding expected length of stay and purpose of visit

American and Canadian citizens as well as citizens of Australia, New Zealand  and most European countries do not need an entry visa for stays up to 90days.

This site describes internet companies and service providers and mobile phone companies

Romania’s fixed-line telecoms market is evolving under the weight of competition and technological change. Implementation of EU Directives has opened the telecoms market to competition and implemented a regulatory framework designed to foster effective competition. – See more at: http://www.budde.com.au/Research/Romania-Telecoms-Infrastructure-Operators-Regulations-Statistics-and-Analyses.html#sthash.4oFX5hYQ.dpuf

Romanian cities generally have very good public transport systems comprised of buses, trams, trolleybuses and, in some cases, maxitaxis. Bucharest is the only Romanian city with an underground metro. 

A description of the best forms of public transportation

All employers in Romania must comply with Romanian labor law, whether they employ Romanian citizens or foreign nationals

This site describes labor contract requirements, working hours, minimum wage and more

A report on unemployment, retirement and disability laws in Romania from the US Social Security Office

A report on unemployment and disability benefits in Romania from the US Social Security Administration

Romania has a temperate climate, similar to the northeastern United States, with four distinct seasons.

US Department of State – Go to Safety and Security for updates from the Romanian government

Safe travel advice from the Department of Foreign Affairs and Trade

This guide to doing business in Romania offers some introductory points to some areas such as business culture and etiquette. 

Romania has a temperate-continental climate with moderate features which is characteristic for Central Europe. with hot summers, long, cold winters and very distinct seasons. Abundant snowfalls may occur throughout the country from December to mid-March, especially if you are in the mountainous areas of Romania.

Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more

The cost of living in Romania is still a relative bargain for expats: cheaper than Poland, Hungary and the Czech Republic, but more expensive than the Philippines and the medium-sized cities in China and India.

Learn about business etiquette in Romania by understanding punctuality, dress code, gift giving, bribery, corruption and corporate social responsibility.

Demographic information includes population, quality of life, health, sports, technology, energy and the environment

Demographic information on Romania from the CIA

Education in Romania is based on a tuition-free, egalitarian system. Access to free education is guaranteed by Article 32 in the Constitution of Romania.

Expats moving with children will be pleased to know that they have options when it comes to schools in Romania. Public education is taught in Romanian and, as a result, most expats choose to send their children to international or private schools.

Schedule of National holidays and Observances

Approximately 90 percent of Romania’s population practices the Eastern Orthodox Christian religion. Therefore, many of the holidays in this country are based on religious doctrine and cultural observances.

Top exports and imports and top destination countries and countries of origin

The activity of import-export in Romania can be performed in most cases without any measure of control or supervision. This is a particular aspect of the international commercial liberty principle in Romania.

This site provides key information on Romania’s participation in the WTO. Romania has been a WTO member since 1 January 1995 and  a member of GATT since 14 November 1971. As of 1 January 2007 it is a member State of the European Union (more info). All EU member States are WTO members, as is the EU (until 30 November 2009 known officially in the WTO as the European Communities for legal reasons) in its own right.

 Preferential Agreements to which Romania is a Party

This site provides a list of accommodations in the major cities of Romania

Expats have many options when it comes to housing in Bucharest. The city is divided into six districts, stretching from the city centre to the suburbs. Apartments are most common in the city centre, but larger villas are available in some of the other neighbourhoods in Bucharest.

Fortified churches and painted monasteries stand regally amid a pristine landscape. In the cities, former Saxon settlements such as Sibiu and Braşov ooze charm, while vibrant Bucharest is all energy.

While tourism is growing, Romania is still considered something of an off-the-beaten-track destination for foreigners, and you’ll get kudos from the locals just for showing up.