Opening bank accounts for Romanian companies
Corporate lawyer in Romania. Opening bank accounts in Romania
According to the provisions of the Romanian Company Law – Law 31/1990, regardless of the legal form chosen for company formation in Romania, every Romanian company has the obligation to deposit a minimum amount as share capital in Romania into a special bank account in Romania established for this purpose. After opening a bank account in Romania for the payment of the share capital, it can be converted into a current bank account in Romania that will be used for receiving invoices, making payments to suppliers, cash deposits or withdrawals, paying salaries, or taxes and duties to the state. Additionally, a Romanian company can hold multiple bank accounts, in RON or foreign currencies, depending on the operations it carries out.
A business lawyer in Romania or a company lawyer in Romania can assist in opening bank accounts in Romania for a limited liability company in Romania (LLC), ensuring compliance with all legal requirements.
The Romanian Law Firm Pavel, Mărgărit and Associates recommends consulting a corporate lawyer in Romania or a company lawyer in Romania to assist with the formalities of company incorporation in Romania, specifically the opening of a bank account in Romania for the company. A commercial lawyer in Romania can guide and explain the steps for the initial opening of a bank account in Romania for the deposit of share capital and what documents are required, as well as how it can later be converted into a current account for specific operations related to a limited liability company in Romania.
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Commercial lawyer in Romania. LLC bank account in Romania
The deposit of a minimum share capital in Romania represents an essential step in the process of company formation in Romania, according to the regulations provided by the Romanian Company Law – Law 31/1990. Thus, after preparing all the necessary documents for company incorporation in Romania, whether it involves the incorporation of a limited liability company in Romania or another form of legal organization, an economic operator in Romania is required to open a bank account in Romania designated for the deposit of the initial share capital in Romania. The necessary documents for opening a bank account in Romania for legal entities to deposit share capital include the company’s articles of incorporation, the company name reservation issued by the Romanian Trade Register, the identity card of the person opening the account, and a power of attorney if applicable. Some banks may require additional documents for opening a bank account in Romania for the company, so consulting the list of required documents with the bank where you decide to open the bank account in Romania for the share capital is recommended.
The Romanian Law Firm Pavel, Mărgărit and Associates recommends using the services of a commercial lawyer in Romania or a company lawyer in Romania for managing and submitting the necessary documents for opening a bank account in Romania for the company, ensuring that the procedure is as simple and fast as possible, allowing secure transactions or specific operations for a Romanian company.
For an already existing economic operator in Romania, the procedure for opening a bank account in Romania for an LLC generally requires the same documents as the procedure for opening a bank account for a legal entity, with the difference being that the respective Romanian company is already registered with the Romanian Trade Register. Thus, for opening a bank account in Romania for a company, an economic operator in Romania will need the articles of incorporation, the registration certificate obtained from the Romanian Trade Register at the time of company formation in Romania, and the registration certificate issued by the Romanian Trade Register no more than 30 days before submitting the documents to the chosen bank. Additionally, some banks may require the decision of the authorized body regarding the personnel authorized to manage the account if not specified in the company’s articles of incorporation, or if the legal representative of the company is a non-resident, all the mentioned documents must be notarized and translated into Romanian, along with a copy of the VAT registration number from the country of residence.
The Romanian Law Firm Pavel, Mărgărit and Associates offers high-standard legal services in various practice areas, including those related to company incorporation in Romania or opening bank accounts in Romania for companies. Our team demonstrates a complex understanding of the regulations regarding the Romanian Company Law, providing clear and efficient legal solutions to all clients who have requested the services of a corporate lawyer in Romania or a business lawyer in Romania.
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