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Romania

Investment Incentives in Romania

Corporate Governance of Companies:

All Limited Liability and Joint Stock Companies are subject to a flat rate corporate tax of 16%, while profits to shareholders are subject to dividend tax. Shareholder liability to third parties is limited to the paid up value of the share capital.

Real Estate:

Since 2014 foreign citizens and entities are allowed to acquire land and buildings in Romania under the same terms and conditions as Romanian citizens

Public Procurement Regulations:

Government ordinated short terms for the resolution of public procurement contestations and simplified procedures for structural fund applications

Infrastructure:

The attribution of Public Private Partnership contracts must follow either an open or competitive dialogue procedure and benefit from short term contestation procedures.

Taxation:

The general level of income and profit tax preserved at 16% is a favourable measure for new and stable investments. Double taxation treaties apply for dividend income, capital gains and liquidation proceeds.

Labour Law:

Romania benefits from a skilled workforce at competitive prices. Trial period provisions apply for termination of labour contracts.

Debt Recovery:

An efficient debt recovery method provided in Romanian legislation is the forced takeover of movable guarantees by creditor from debtor by bailiff without prior court approval and short terms in which the relevant courts are obliged to resolve enforcement requests.

Energy:

The promotion of renewable energy projects provides the opportunity to sell produced energy at regulated tariffs.

Incentives:

Dividends and revenues from liquidation of subsidiaries & capital gains acquired by holding companies from the sale of the shares in their subsidiaries will not be taxable.

New Romanian Legal Codes:

The new Romanian Civil Code expressly recognizes the legal value of the pre-contractual period and the principle of negotiating in good faith. Penal clauses may be reduced by the court if manifestly excessive.

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