WB: Romania 2nd Most Accessible State To Start Foreign Business Worldwide

It takes seven procedural steps and 11 days to start up a Ltd. in Romania, which scored 89.5 points in the ease-of-establishment index, according to the World Bank’s Investing Across Borders 2010 report.

Slovakia is global leader in terms of easiness to start up a foreign business, with an overall score of 92.1 out of maximum 100 points.

At the opposite pole, Ghana is one of the world’s least accessible country to start a foreign business, with an overall score of 34.2 points.

Region wise, eastern Europe and central Asia scored 76.8 points in the World Bank’s report, while the global index stands at 64.5 points.

Foreign companies planning to start a business in Romania must follow the legal steps imposed by the domestic regulations, but they don’t need an investment authorization. However, foreign companies are required to legalize and translate related paperwork abroad.

The Romanian laws forbid a limited liability company with a sole shareholder to be sole founder and shareholder in a different limited company.

Foreign investors are allowed to own full control over limited companies set up in Romania, excepting national and international air transportation, where maximum ownership is capped at 49% for investors outside the European Economic Area.