Doing business in Romania guide 2024 edition

Understanding the Romanian market

Our guide begins with a detailed look at Romania's current business environment and economic outlook. We explain why many companies choose Romania for their business operations and provide up-to-date analysis of market conditions and growth prospects. For those planning to establish a presence here, we outline the main types of business structures available and walk you through the practical steps of setting up a company, branch, or subsidiary.

Tax system and requirements

A clear understanding of Romania's tax system is essential for any business. Our 2024 guide covers:

• Recent updates to the microenterprise tax system
• Corporate income tax regulations
• Individual taxation
• VAT requirements and procedures
• Transfer pricing considerations
• New developments in digital tax reporting

Employment and labor laws

Managing employees in Romania requires attention to specific legal requirements and local practices. We cover the key aspects of employment, including:

• Current employer and employee tax obligations
• Minimum wage requirements and salary considerations
• Essential hiring procedures
• Legal requirements for employment contracts
• Guidelines for employee handbooks
• Information about collective bargaining agreements

Financial reporting and auditing

Good financial management starts with understanding local requirements. Romanian accounting regulations have certain specifics, and we explain them clearly in this section. You'll find information about the International Financial Reporting Standards (IFRS) and Romanian Accounting Standards (RAS), helping you choose the right approach for your business.

We also explain which companies need mandatory audits, what the audit process involves, and how the audit profession is regulated in Romania. This information helps ensure your business meets all financial reporting requirements while maintaining transparency with stakeholders.

A practical resource for your business

Our 2024 guide includes the latest legislative changes and market developments in Romania. It's designed to be a practical resource that helps you make informed decisions about your business operations in Romania.

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