TYPICAL FLOW FOR THE ROMANIAN VAT REGISTRATION
This is how most lawyers incorporate new companies in Romania for their foreign clients:
Hire a lawyer: You appoint a lawyer or a lawfirm to open your company at the Romanian Trade Registry.
Document Preparation: You prepare a set of documents and hand them over to the lawyer or lawfirm.
Non-VAT Registration: The lawyer or lawfirm incorporates your Romanian company as a non-VAT payer.
Legal Fees: The lawyer or lawfirm charges you for their services.
VAT Code Need: You soon realise your business needs a Romanian VAT code.
Hire an accountant: You ask an accounting firm to obtain the VAT code for you.
Prepare More Documents: You need to prepare another set of documents, which consumes time.
Obtain VAT Code: You receive the VAT code.
Additional Charges: The accounting firm rightfully charges you for the time invested in helping you obtaining the VAT.
Outcome: You end up paying twice, losing time and wasting money.
THE EFFICIENT (AND LESS KNOWN) FAST-TRACK METHOD
Hire a Lawyer: Identical to Step 1 above.
Document Preparation: Identical to Step 2 above.
VAT-Payer Registration: Insist that the lawyer or law firm completes your Romanian VAT registration by incorporating your company as a VAT-payer from the start. Show them the images below to clarify.
Standard Legal Fees: The lawyer or lawfirm charges you the same amount as in Step 4 above.
Obtain VAT Code: You receive the VAT code during the initial incorporation process.
Outcome: You save both the time and money that would have been spent on an accounting firm to get your VAT code separately.
By following the fast-track method, you streamline the incorporation process, ensuring your new Romanian business is VAT-ready from the beginning. This approach helps you avoid unnecessary delays and additional costs.
Example:
Typical flow:
Fast-Track:
For more details, call or text us on +4073TAXNEWS, email us on contact@piroi.com or make an appointment: https://www.piroi.com/book-online
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