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Non-reimbursable European funds are an important source of financing for central and local authorities, but especially for Romanians who want to open or expand a business. The European Union has prepared the non-refundable funds for the Romanians who need them, they only have to apply for them. The good news for those who want non-reimbursable European funds in 2024 is that in the 2021-2027 EU budget exercise, Romania can receive approximately 4 billion euros through the European Union's Cohesion Policy.

European Regional Development Fund (ERDF) in Romania

Romanian farmers and entrepreneurs in the agri-food sector have the opportunity to receive financial aid through various DR interventions. Depending on the type of investment, the maximum amount available for projects can range from 3 million to 10 million euros. The total budget for these European funds is 210.3 million euros and the registration period is open from December 20, 2023 to April 30, 2024, until 4:00 p.m.

Are you a foreign citizen looking to establish a business in Romania but the PFA legal form is not suitable for your needs? In that case, you can set up an LLC. Here are the requirements for opening an LLC as a non-resident.

Can a foreign citizen start a business in Romania?

Regardless of your nationality, as long as you have a good idea and plan, you can turn it into a successful business in Romania. All you need to do is decide on the appropriate legal form and begin the establishment process.

1. SME grants of EUR 200,000-8 million in just transition counties

Micro-enterprises and small and medium-sized enterprises (SMEs) in 6 counties affected by the reduction of polluting industrial activity will be able to obtain grants of 200,000-8 million euros per project, in the form of regional state aid and de minimis aid.

Farmers in Romania will be able to benefit from state grants of a maximum of 280,000 euros each, to cover the interest on bank loans, through an aid scheme proposed, on Friday, by the Ministry of Agriculture, through an emergency ordinance project.

The Farmer's Credit state aid scheme, initiated in the context of the crisis caused by Russia's aggression against Ukraine, provides a total budget of 815.5 million lei (164.1 million euros), from which it is estimated that 3,500 farmers in Romania will receive support for working capital.

Romania has recently implemented new regulations and penalties for its upcoming B2B e-invoicing regime, which will be launched in two phases in 2024. The government emergency ordinance 115/2023 introduces several amendments, including exemptions for simplified invoices, exports, non-resident counterparties, and B2C transactions. Additionally, the grace period for fines has been extended until July 2024.

As of fiscal novelties of interest, I should mention:

A shareholder/associate can hold more than 25% of the value of the shares/shares in only one micro-enterprise. Until now, the limit was holding more than 25% of shares/shares in 3 micro-enterprises. If an entrepreneur has, in 2024, more than 25% shares/shares in several micro-enterprises, he must decide by March 31 which of the companies to apply the tax system specific to micro-enterprises.

Meer info: frjacobs@telenet.be

Inleiding aandeelhoudersvergadering van een Roemeense S.A.

In dit artikel worden de procedures beschreven voor de organisatie en het verloop van de Algemene Vergaderingen van Aandeelhouders (AVA) van een Roemeense S.A..

Deze procedures zijn van toepassing op de AVA, het hoogste besluitvormingsorgaan van de vennootschap, waarin de wil van de aandeelhouders wordt uitgedrukt met betrekking tot alle aangelegenheden die verband houden met het belang van de vennootschap.

In de IT-sector is nearshoring steeds populairder geworden, waarbij bedrijven op zoek gaan naar andere landen in hun regio voor kostenvoordelen en betere dienstverlening. Roemenië staat op de lijst van mogelijke nearshoring-opties, omdat de IT-sector in het land de afgelopen jaren een enorme groei heeft doorgemaakt. In deze blogpost zullen we onderzoeken waarom nearshoring naar Roemenië een aantrekkelijke optie is voor veel IT-bedrijven, evenals enkele uitdagingen die hierbij komen kijken.

The purpose of HG no. 807/2014 updated in 2023 valid till 2028

The purpose of HG no. 807/2014 updated 2023 is represented by the establishment of a state aid scheme with a major impact on the economy, the objective of which is regional development by making investments in certain sectors of the economy. The total value of an investment project must be at least 4.5 million lei. The minimum value of a project was determined by reference to an equivalent value of approximately 1 million euros (calculated at an exchange rate of 4.5 lei/euro).