The setup of a branch in Romania is similar to the procedure of incorporation of a Romanian company. The branch is just an extension of the parent company and therefore has no legal personality and no independence. Parent company is the only or majority shareholder in the company. This type of corporation does not imply a different incorporation procedure other than any other limited liability company – SRL.
The Romanian branch does not have its own share capital therefore there is no capital to deposit. The Romanian branch does not have its own patrimony. The branch has no separate status from the foreign company itself.
Documents needed for the set-up of a Romanian branch of a foreign company
The branch has to be registered at the Romanian Trade Register, filling in the following documents:
- Articles of incorporation of the foreign company;
- Evidence of registration of the foreign company in its country of origin (registration certificate, Certificate of incorporation, an excerpt from the trade register, or certificate of good standing);
- Resolution of the foreign company to set-up a branch office in Romania;
- Documentation attesting the parent company’s solvency;
- Power of Attorney issued to the Manager of the branch office.
- All documents from the foreign legal entity must be notarized and extra-legalized in the country of residence.
Any document supplied in a language other than Romanian must be accompanied by a notarized translation.