Economic Overview and Business Opportunities in Romania
Romania may not be the first name that springs to mind when you think about setting up a business, but it is a country ripe with business opportunities.
All you need is a little research and the right industry connections. Many foreign investors have found their successful start in Romania and you could be next.
As a member of the EU, investors have the assurance that Romania’s business climate is stable and secure. Its desirable geographic location makes it an ideal spot to establish a successful business entity.
Romania is an ideal location to do business because of the low corporate tax rate of 16%. With the many double taxation agreements that it has signed, Romania can offer investors the added benefit of not being taxed twice.
If you are a small or medium enterprise (SMEs), or even a start-up business, Romania is where you need to be. The country has one of the lowest tax systems in Europe, something that will definitely benefit SMEs and start-up companies.
Romania recognises something called micro-enterprises. Your company is considered a micro-enterprise if the maximum turnover is EUR 1 million and under at the end of the previous financial year. In such instances, the turnover tax rate would be 1% for micro-enterprises with one or more employees. If the micro-enterprise has no employees, the turnover tax rate is 3%.
Since Romania is considered a developing nation, there are plenty of business opportunities to tap into. The low cost of business operations, combined with high-quality professionals, are just some of the many reasons why foreign investors are eager to tap into the Romanian economic market.
In comparison to other European countries, many investors find that Romania has one of the best business opportunities to offer. Especially in terms of the sectors you could potentially venture into. There are opportunities to be found in the infrastructure sector, industry, agriculture, fishery, education, and even the environmental sector.
Romania is one of the best locations for those looking to set up an IT-related business in the European region too. As a country that is still growing, technology is a welcomed contribution. Another potentially good business opportunity idea is to start a health food company. The interest in health food has boomed in recent years, and this is something investors can consider tapping into.
Not forgetting the growing potential that lies in the online and food delivery sectors too. As for tourism, business opportunities are always there waiting for the savvy investor to snap it up. Romania is a beautiful country and setting up a tourism-related business can be another good idea to explore.
Setting Up A Business in Romania? We’re Here to Help
Romania may be unfamiliar territory to the foreign investor, but that shouldn’t stop you. Especially not when the 3E Accounting team is here to help. Utilise our industry connections and years of experience to help you launch your business.
For more information about setting up a business in Romania, and our other incorporation services, contact 3E Accounting today.
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