Doing Business in Romania: A Legal Guide for Investors
How foreign companies set up, invest, build, finance and operate in Romania, and which Romanian law governs each step.
Updated 28 October 2026 · General information, not legal advice
Short answer
Foreign investors can own Romanian companies outright. The usual route is to set up or buy a Romanian SRL, check whether foreign investment screening applies, secure land and permits, obtain any sector license, and put financing and employment arrangements in place. The table below shows which law governs each step.
Which Romanian law applies?
| If you plan to… | Main legislation | Authority | Read more |
|---|---|---|---|
| Set up or buy a company | Law 31/1990 | Trade Register (ONRC) | Buying a company |
| Invest in a security-sensitive sector | GEO 46/2022 | CEISD | FDI screening |
| Buy agricultural land | Law 17/2014 | Local council, ADS, ANCPI | Agricultural land |
| Build or develop a site | Law 50/1991 · Law 350/2001 | Local planning authority | Project development |
| Generate, trade or supply energy | Law 123/2012 · Law 220/2008 | ANRE | Renewable finance |
| Explore for or produce oil and gas | Law 238/2004 · Law 256/2018 | ANRM | Oil & gas investment |
| Offer gambling or supply operators | GEO 77/2009 · GD 111/2016 | ONJN | Gambling market entry |
| Lend or take security | Civil Code · GEO 99/2006 | BNR, AEGRM, ANCPI | Security interests |
| Hire employees | Labor Code (Law 53/2003) | Labor Inspectorate (ITM) | Employment & data |
| Process personal data | GDPR · Law 190/2018 | ANSPDCP | GDPR compliance |
| Run an AML-regulated business | Law 129/2019 | ONPCSB and sector regulators | AML programs |
| Merge with or buy a competitor | Competition Law 21/1996 | Competition Council | Merger control |
Seven steps to invest in Romania
Choose the vehicle
Most foreign investors operate through a Romanian SRL. An SA is used for larger, listed or some regulated businesses; branches and representative offices are alternatives with direct exposure for the parent. Formation is governed by Law 31/1990 and registration by Law 265/2022.
Company formation →Check investment screening
Investments by non-EU investors, and some EU investors, in sectors such as energy, transport, communications, finance and health may need CEISD authorization under GEO 46/2022 before closing.
FDI screening →Secure land and permits
Real estate is registered in the land book under Law 7/1996. Agricultural land outside built-up areas follows Law 17/2014. Construction requires an urbanism certificate and building permit under Law 50/1991.
Real estate & land →Obtain the license
Regulated activities need a license before trading: ANRE for energy, ONJN for gambling, BNR and ASF for financial services, ANRM for oil, gas and mining.
Regulatory compliance →Finance the business
Romanian lenders and foreign banks take security through real estate and movable mortgages registered in the land book and AEGRM.
Banking & finance →Hire and protect data
Employment is governed by the Labor Code (Law 53/2003); personal data by GDPR and Law 190/2018.
Employment & data →Plan for disputes
Romanian courts and the CCIR Court of International Commercial Arbitration hear commercial disputes; Romania is party to the New York Convention.
Disputes & arbitration →
Can a foreign company own 100% of a Romanian company?
Yes. Foreign individuals and companies can generally own all the shares of a Romanian SRL or SA formed under Law 31/1990. Investments in security-sensitive sectors may first need clearance from CEISD under GEO 46/2022, and regulated activities need a license.
Which company form should a foreign investor use?
Most operating subsidiaries are SRLs. An SA suits larger or listed businesses and some regulated activities. A branch is possible but exposes the parent directly.
What is the corporate income tax rate in Romania?
The standard corporate income tax rate under the Fiscal Code is 16%, with a separate regime for micro-enterprises. Tax rules change frequently, so confirm current rates with a tax adviser.
Do documents need to be in Romanian?
Documents filed with Romanian authorities and courts must be in Romanian or accompanied by certified translations. Contracts between private parties can be in English.
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Tell us the decision you need to make
Describe the transaction or regulatory issue, the Romanian assets involved and your timetable.
Consultation