Starting a business in Iasi/opening a branch

Hello,

Following link has proved to be helpfull in my search for information. I haven't got around to starting the formalities for my business, so i can't give you 'hands-on' info yet.

http://www.doingbusiness.org/exploreTop … nomyid=158

KR,
Joëlle

No problem, yes, my family and i have just relocated to Pitesti (husband's job) and i'm looking into starting my own business here as it is easier to do, when your other half gets moved from project to project.

Hi,

I'm belgian, and we have been here for 3 months now. We have lived in Africa before that, and as a child i lived in Bahrein. Then as a student i lived in France. So it isn't our first move abroad.

Romania is a breath of fresh air compaired to Gabon (Africa), certainly now that we have a small child to concider. I personnaly like it, just missing a couple of 'western european' basics, but i can live without. I guess that has to do with the fact that this is Pitesti. People tell me if you want to find everyting as in West Europe, Bucharest is the place to go. And that's only an hour's drive away. So ideal location, i would say.

So how did you end up in Romania as a student? As a Belgian, for me that doesn't seem an obvious choise.

I guess indeed that a lot has changed since 1995. People tell me that since Romania joined the E.U. in 2007, it's going realy fast.

Take care,
Joëlle

One thing you might need to consider is that VAT will increase from 19% to 24% on Thursday, so you'll need to factor that into your business plan calculations.

Hy Sayed,

I am from Iasi, I own a small business there, currently trying to move to Bucharest. I can give you some info from what I know, but if you really want to start a business in Iasi I could give you the details of a friend of mine who is an attorney and has a business in opening companies or I could help you find places to rent or "who knows what else" for the start, you just let me know.

The prices for renting a business place in downtown Iasi are about between 10-50 euro/square meter...but depends very much on what are you looking for. If you want you could give me more details and I could find out more info about exactly what you need.

The papers and all the formalities you need to make to open a company are around 200-300 euro, at least for a romanian, I don't know if it is different for a foreigner, I will try to find out as well. You also need to take into the minimum company capital which may be different for foreigners, for romanians is about 50 euro.

The city developed a lot I guess since you have last been there, we have two shopping malls, 4-5 big retailers supermarkets, many restaurants and bars, it is still very beautiful and full of nice girls...as you probably remember.

The IT industry is quite big in Iasi I guess, maybe you know we had a good university there, there are a few foreign companies that use Iasi IT specialists, like Ness or something, sorry I don't know the name exactly,  but I'm sure you can still find some that are looking for jobs...

All the best,

Theo

P.S. I just read what you answered somebody...and I want to thank you for the nice words you said about our country, and our city especially...

As per todays news, the govt will have a flat tax @ 16% for companies.

http://www.bucharestherald.ro/economics … ax-remains

Hey Theo,

Sorry for the late response, been quite busy lately. Thank you for all the advice and insight, it should come in really handy. If I need any help, I'll definitely be in touch with all you guys and maybe who knows might even help each other.

Also there's no need to thank me about my opinion of Romania and Romanians because I say as I see it.

Take Care


Ok, Sayed...

Better late then never...

So, when you decide to go to Iasi, I could help.

I wish you good luck with all you decide to enterprise there and elsewhere...

All the best!

Theo

Maykal should be pretty happy at judging this one a bit to the left.

Sadly, we are talking about different taxes. daexpat is referring to 'impozit', which is income tax and is indeed 16% across the board. I was talking about TVA (value added tax), which is now 24% (it was 19%). TVA need not be charged if your company's revenue is below a certain level, although I'm not sure what that is, something like 30'000 Euro per year or thereabouts.

It is (or used to be) 15000 euro per year the limit...which I doubt it would be the case of Sayed's activity...

But may be if he is exporting the services...he won't need to pay VAT... I don't know this details for sure, but checking with a fiscal expert or an attorney specialized on business, will give him the exact info...

To Theo, Maykal & everybody else

Thanks for the advice guys, I've almost finished everything and will be there in a couple of weeks time. What business are all you guys into?. We could probably meet up.

Regards
Sayed

Translations,
Decorations and Events organizing...

Theo

Don't be a stranger, then!

I am in the same business: toss.ro

Contact Corina Lates for help. She knows all in Iasi and has many International clients:

Corina Lates
SC ACCOUNTING HOLDING LCC SRL
Iasi, 64 Nicolina str., RACEMI building, floor 2, 20 office
Postal code 700220
Phone: 0040-332-422655
Fax: 0040-372-872922
Mobiles: 0040-730-005684; 0040-744-566684

Hi Sayed,

Sorry for my late reply, I launched a web agency 1 year ago and I am looking for commercial partner to expand.
If you are interested, please contact me.
Regards
Anne