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Romania is often considered as one of the most promising locations in Europe for company formation as foreign investors are attracted by uniform taxation system, EU membership, availability of cheap manpower and low incorporation and maintenance cost. If you are looking for incorporation in Romania in a short time, NNRoad has the knowledge and experience to provide high-quality services in managing the legal formalities throughout the company formation process.

  • Confirm the selection of a business entity type.
  • Assist with the name or business name of the entity.
  • Guiding and preparing legal documents like an Application form for company registration, Articles of Association and other incorporating documents if needed and registration at Trade Register.
  • Assist with registration of a company with the relevant Tax Authorities, social and labour authorities.
  • Support with after company setup services.
  • Assist with other licenses, if required by Law.

Hiring employees in Romania is a daunting task as it is important to first establish an entity and then hire staff under Romanian labor compliant laws. NNRoad can help you by providing with a workforce without the burden of incorporating an entity in Romania. We provide cost-effective and simple solutions for your operations and staff hiring in foreign legislation.

  • Engaging employees through local labor contracts including contract administration, engagement, extension termination and conversion to a permanent hire.
  • On-boarding and off-boarding employees following local labor law practice.
  • Registration of employees with social security board and with the tax office.
  • Complete payroll solution and mandatory benefit administration.
  • Employee management according to local laws, including employee record, timekeeping, bonus and allowance management, expense and claims, and leave employee database management.
  • Payments to the Social securities and submission/payments of the tax return.
  • Payment management, including invoicing customers/clients and salary payments.

Paying staff accurately and on a timely manner along with correct social and tax contributions is of extreme importance. Payroll Administration counts as a complex and time-consuming activity. It requires extensive and up-to-date knowledge of tax and labour laws in Romania. Any mistake can lead to serious consequences ranging from discontented staff to unexpected legal penalties. At NNRoad, we stand responsible for all the legislative and administrative developments freeing you from all the burden. We have experienced professionals who will look after all your payroll needs saving you the time and resources which you can utilise in business-oriented activities.

  • Registering and de-registering the necessary company and personnel information for payroll calculation in compliance with local rules.
  • Registering all local employees with the social security board, if required.
  • Calculation of gross salary, salary deductions, such as social insurances, unpaid leaves, etc., and net salary based on information provided by the Company including irregular payments such as incentive/bonus, allowance, etc. if applicable.
  • Pro-rata calculation for people who join/resign.
  • Providing a monthly payroll summary to the Company.
  • The monthly issue of electronic pay-slips.
  • Prepare annual payroll related reconciliation report.

One of the biggest compliance burdens for business expanding across borders is maintaining records and tax reports according to the local directives. When it comes to taxation and accounting, the reporting requirements and financial reports can count as a load; taking away all the attention from your core business. NNRoads’ team of professional and experienced accountants will help you manage your finance, accounting and taxes. We understand the importance of staying away from any risk associated with tax and accounting procedures and therefore offer transparent procedures so that you get all the financial clarity.

  • Handling all the bookkeeping records as per Romanian Legislation.
  • Preparation of Monthly or bi-monthly reports to different government authorities.
  • Taking care of taxation like corporate income tax, VAT, withholding tax etc.
  • Assisting clients with tax calculations and settlements before Tax Authorities wherever permitted in compliance with local law.
  • Consolidation accounting and preparation of group financial statements.