Before we dive into the options you have as an entrepreneur in Romania, let’s talk very briefly about how to become a resident there and the advantages that this has.
If you are a citizen of a country in the European Union, you won´t have any problems obtaining residence in Romania. You just have to find a flat and rent it and then, along with the rental contract, register yourself in order to obtain your visa or residence permit.
You will also have to prove that you have the necessary funds to live in Romania (about 50 euros a month is more than enough, as living costs are quite cheap there). If you have a job or you are a business owner in Romania you probably wont need any other documents, however in some cases they may ask you to prove you have health insurance.
Depending on where you come from, if you register at the consulate they might be able to process your deregistration as a tax resident in your country, or at least certify that you live there in some way (if you have any doubts, read our article on the steps to deregister in your country).
Living in Romania has several advantages, one of which is that it doesn´t have CFC rules which means you can manage your companies abroad without any problem.
Another is that it has a flat tax rate of only 16%, higher than Bulgarias 10% but less than the one in many other countries.
However, other than taxes there are also many other reasons to live in Romania:
Living in Romania will only cost you a fraction of what it does in other European countries like Ireland, France or the UK.
If you want to subcontract or employ workers, you can do so at a very good price.
The food is delicious.
Internet is very cheap at around €10 euro a month with 1Gbit speed and €12 for 15Gb of mobile data.
Rent is very cheap, you can find relatively large flats in the center of Bucarest for only 400 or 500 euros.
Flights to Bucarest are extremely cheap.
There are a lot of digital nomads and online entrepreneurs in Bucarest. If you are just starting out, its the perfect place to start setting up a network of contacts.
Opening a bank account there is very easy, Romanian banks are very fast and modern.
The majority of Romanians also speak English.