Opening a Company Bank Account in Romania
Opening the share capital account
To complete the opening of the company, it is necessary to open a share capital account. It will be opened directly at the bank.
To open the share capital account, the company administrator can go to almost any bank, depending on their preference, the packages they offer for SMEs, tax facilities or future opportunities for financing the company, etc. Unfortunately, due to EU Regulations and recently, the geo-political situation next to our border pushed almost all banks to request the personal presence of at least the administrator when opening a bank account for the company.
Some banks agree to open through a representative, but most of the time the procedure is burdensome, as they require the representative to have access to the funds of the company or other such requests that even if possible on paper, make it almost impossible in practice for entrepreneurs to open the bank account from distance.
The documents you must have at hand when you want to open the social capital account:
Proof of company registration - certificate of incorporation, and all documents issued by the Trade Register
Identity card AND most of the time, passport
Excerpt certificate
Please be advised that this is not an exhaustive list and all banks have their own rules and regulations! Check with your bank before submitting any documents!
Examples of banks that open accounts for foreigners
1. ING
2. RAIFFEISEN
3. BRD
4. CEC Bank
All these options have good online banking systems and are recommended choices for entrepreneurs.
From the point of view of communication, at least the basic elements can be found translated into English, on the websites of each individual bank. However, you will most likely be redirected to a consultant who, depending on the specifics presented by you, will guide you and explain the procedure and documents necessary to open a bank account.
Since Revolut Business opened its registrations again in Romania, things start to move a little faster.
However, I remind you that a visit to the bank is most likely unavoidable, mostly for tax payment, but before deciding which bank you want to work with, you can contact me for updated advice (based on previous experiences).
The content of this article was developed by Legally Remote and has a strictly informative and general purpose, the information contained does not constitute legal advice.
If you need legal assistance for your business at the beginning of the journey, schedule a consultation call. Together with my team, I help you get rid of the stress of documents and give you time to deal with the important things for your business.