Romania

Operating a business

Different types of companies	Number of partners/shareholders	Maximum and/or minimum capital	Liabilities	Registration fees
Private Limited Company	Maximum 50 .	Minimum ROL 2 million	Liability is limited to the amount contributed.
Public Limited Company	Minimum 5 shareholders.	ROL 25 million	Liability is limited to the amount contributed. At least 30% must be released at the incorporation and the remainder within 6 months after the registration.

Business setup procedures: Foreign companies' registration procedure in Romania are made with the Trade Register National Office: Boulevard Expozitei 4 78334 Bucharest.
The registration procedure consist in: reservation of the company's Corporate name with the Trade Register, deposit of the registered capital; documents signed and authenticated by a local notary; a notice from the judge delegated to the Trade Register; publication in the official advertisement journal; certificate of registration; tax code and a company's registration with the Financial Administration.

Legal weekly duration: 40 hours
Retirement age: 57 for women and 62 for men.
Working contracts: Legal clauses regulate employment contracts and to a lesser degree collective agreements and individual negotiations.
The terms of employment contracts and the conditions for hiring are extremely rigid.

Minimum wage: 370 new lei (USD144)
Social contributions: Social security contributions paid by employers: from 34 % to 44 %.
Social security contributions paid by employees: 9 %.

Bargaining power: The following confederations can be listed: National Free Trade Union Confederation of Romania (C.N.S.L.R.-FR Ã TIA) and Cartel Alfa.
Unionization rate: N/A.
Labor regulation bodies: Ministry of Labour and Social Solidarity