.png){kind=logo}
Romania
Romania Geography, Politics, and Culture
The largest of the Balkan countries, Romanian terrain has dramatic mountains and a coastline on the Black Sea. After World War II, the country fell under Communist rule, eventually leading to Communist leader and dictator Nicolae Ceausescu’s iron fist reigning over the country until his downfall on Christmas Day 1989.
The River Danube, Europe’s second-longest river, empties into Romania’s Danube Delta. The Carpathian Mountains, which cross Romania from the north to the southwest, include Moldoveanu Peak, at an altitude of 2,544 m (8,346 ft). Its climate is temperate and continental, with four distinct seasons.
With a population of over 20 million people, the largest ethnicity is Hungarians, followed by Hungarians at 6.1% and the Roma, at 3.0% of the population. Their official language is Romanian, and although formally a secular state, the majority of the population consider themselves Christians. Among famous Romanians is Romanian-born Holocaust survivor Elie Wiesel, who received the Nobel Peace Prize in 1986.
| 2021 | |
| April 30 | Orthodox Good Friday |
| May 1 | Labor Day / May Day |
| May 2 | Orthodox Easter Day |
| May 3 | Orthodox Easter Monday |
| June 1 | Children’s Day |
| June 20 | Orthodox Pentecost |
| June 21 | Orthodox Pentecost Monday |
| August 15 | St Mary’s Day |
| November 30 | St Andrew’s Day |
| December 1 | National holiday |
| December 25 | Christmas Day |
| December 26 | Second day of Christmas |
- S.A. (Societate pe Acţiuni)
- S.C.A. (societate în comandită pe acţiuni)
- S.C.S. (societate în comandită simplă)
- S.N.C. (societate în nume colectiv)
- S.R.L. (societate cu răspundere limitată)
- PFA (persoana fizica autorizata)
- O.N.G. (Organizație Non-Guvernamentală)
- Corporate Tax: 16% (or 1% revenue for micro-entities with at least one employee, or 3% for micro-enterprises with no employees)
- Income Tax (Lowest Marginal Rate): 10%
- Income Tax (Highest Marginal Rate): 45% (10% income tax + 25% CAS (social security) + 10% CASS (health insurance) for employed persons or only 10% income tax + 10% CASS calculated from the minimum wage if you earn more than the monthly minimum wage × 12 months for the self-employed persons, ex you pay a maximum of 2280 RON as CASS contribution in 2018 if you earn over RON 22,800 for the whole year)
- VAT/GST/Sales Tax: 19% (standard rate), 9% (food, medicines, books, newspapers and hotel services), 5% (reduced rate)
- Banca Comerciala Feroviara (Local Bank)
- Banca Romana de Credite si Investitii (formerly ATEbank Romania) (Local Bank)
- Banca Transilvania (Local Bank)
- CEC Bank (Local Bank)
- Libra Internet Bank (Local Bank)
- Patria Bank (Local Bank)
- Alpha Bank (Foreign Bank)
- Banca Comercială Română (of the Erste Group) (Foreign Bank)
- Banca Românească (of the National Bank of Greece Group) (Foreign Bank)
- Bancpost (of the Eurobank Ergasias Group) (Foreign Bank)
- Bank Leumi (Foreign Bank)
- BRD – Groupe Société Générale (Foreign Bank)
- Crédit Agricole (formerly Emporiki Bank) (Foreign Bank)
- Credit Europe Bank (Foreign Bank)
- Garanti Bank (Foreign Bank)
- Idea Bank (formerly Romanian International Bank) (Foreign Bank)
- Intesa Sanpaolo (Foreign Bank)
- Marfin Bank (formerly Egnatia Bank) (Foreign Bank)
- OTP Bank (Foreign Bank)
- Piraeus Bank (Foreign Bank)
- Porsche Bank (Foreign Bank)
- ProCredit Bank (Foreign Bank)
- Raiffeisen Bank (Foreign Bank)
- UniCredit Bank (Foreign Bank)
Aadmi can support you with your expansion to Romania. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns. Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.
Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.
