Publication date: 14.04.2025
My name is Sirenko Mykola Serhiyovych, I am a lawyer from Kyiv. My key areas of work are international corporate law, fintech, and legal support for businesses in the EU and Asia.
Client: Viktor, a business owner planning to expand into the European market (Romania).
Situation:
Viktor, a resident of Kyiv, has long been successfully operating in Ukraine, specializing in food trade. Understanding that achieving greater business success and growing his company required entering the European market, he decided to register a business in Romania. In this context, obtaining VAT payer status was a crucial aspect, as it would significantly simplify business processes within the EU, particularly selling goods and services without additional taxes, which is beneficial for his operations.
Romania was not chosen by chance. The country has a stable economy and a fairly lenient tax system that favorably contrasts with many other EU countries and simplifies conditions for registered entrepreneurs in the food sector. Moreover, Romania offers a simplified business registration process for foreign nationals, making it an ideal choice for Viktor.
Considering the client had no prior experience doing business in the EU, he turned to our company for professional assistance with the registration process, as well as to ensure optimal tax planning and avoid potential legal and administrative challenges.
Work Stages:
- Initial Stage — Consultation and Preparation for Registration.
In the first stage, we held several consultations with the client, during which we thoroughly discussed all aspects related to starting a business in Romania. We explained to Viktor the main requirements of Romanian law regarding company registration, and reviewed all the steps necessary to launch the business. Particular attention was paid to tax issues: what taxes the company would pay, possible benefits for food trade businesses, and how exactly to obtain VAT payer status.
- November 23 — Contract Signing and Document Collection.
The client confirmed his decision to start the registration process, and we signed a legal services agreement. The contract clearly outlined all terms and listed the required documents for registration. Viktor provided all the necessary documents, including: a copy of his passport, a certificate of company registration in Ukraine, the company’s banking details, financial reports, and proof of income sources to verify the legality of the funds.
- 3 business days — Preparation and Submission of Documents to the Registration Authority.
Once all the required documents were submitted, our specialists reviewed them and prepared the package for submission to the Romanian registration authority. The package included detailed company information, proof of financial stability, and a business plan for operations in Romania. Since the company dealt with food products, we also prepared quality certificates and other documents confirming compliance with EU standards. All documents were submitted to the relevant authority in Bucharest responsible for registering businesses for foreign entrepreneurs.
- December 13 — Receipt of State Register Extract and VAT Number.
A few days after submitting the documents, we received an extract from the Romanian state register confirming the legal entity’s registration. Viktor’s company was officially registered in Romania, and he was assigned a tax number that allowed him to conduct financial operations within the EU. Viktor also obtained VAT payer status, providing significant advantages in his business operations.
- December 15 — Opening a Bank Account.
The next step was opening a bank account for the new company at one of Romania’s major banks. This is a crucial step for any entrepreneur, as the account is the primary tool for conducting financial transactions. Our specialist accompanied the client during the account opening process and assisted with all necessary procedures.
Result: By December 15, Viktor had successfully registered his business in Romania, obtained VAT payer status, and opened a bank account for further financial operations. Thanks to our support, the client was able to quickly and smoothly start operations in the EU, saving time and resources while obtaining all necessary documents for legitimate work in the European market.
This case demonstrates how crucial reliable legal support is for entrepreneurs planning to enter international markets. We provided our client with a comprehensive approach to the business registration process, including tax consulting, preparation of all required documents, and assistance at every stage of registration. Thanks to our experience and expertise, Viktor was able to successfully start operations in Romania — a first step toward expanding his business in the EU.
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