Incorporating a company in Romania is often presented as the finish line. In reality, it is only the starting point.

For a foreign investor, receiving the registration documents for a Romanian SRL is an important milestone—but it does not automatically make the business operational. During the first 90 days, a newly established company needs to move quickly from a legal entity on paper to a functioning business with banking, accounting, contracts, people, systems and commercial activity in place.

This first period is critical because many of the decisions made during these first three months will determine how efficiently the company develops later.

For Belgian, Dutch and other European investors, Romania offers an attractive environment for establishing operations, accessing qualified employees and developing a cost-efficient European base. But the local administrative and business environment requires proper preparation.

Here is what investors should focus on during the first 90 days.

Days 1–30: From Company Registration to Operational Readiness

The first month should be about establishing the infrastructure of the company.

Open and activate the company bank account

Once the company has been incorporated, the next step is to ensure that the corporate bank account is operational.

The company needs a functioning payment infrastructure for receiving capital, paying suppliers, salaries, taxes and other operating expenses.

For foreign shareholders, this can sometimes take longer than expected because banks may request additional information concerning the shareholders, beneficial owners, business activity and source of funds.

Do not wait until you need to make your first payment.

Banking should be one of the first priorities after incorporation.

Establish the accounting and tax administration

Romanian companies must operate within a formal accounting and tax framework. A newly incorporated company therefore needs an accountant or accounting firm capable of handling the company's specific activities.

This goes beyond simply preparing annual accounts.

The accounting partner should help establish:

• invoicing procedures;
• expense documentation;
• payroll administration;
• tax declarations;
• VAT administration where applicable;
• e-Factura requirements;
• interaction with ANAF;
• bookkeeping procedures;
• management reporting.

For foreign investors, choosing an accountant who understands international shareholders and group structures can be particularly valuable.

A Romanian company may be legally established in a matter of days, but poor accounting administration can create problems much later.

Set up the digital infrastructure

Modern Romanian companies increasingly depend on digital interaction with public authorities.

The investor should ensure that the company has the necessary access, authorisations and digital tools to communicate with the relevant authorities and manage its obligations.

Depending on the company and its activities, this can include:

• digital signatures;
• SPV access with ANAF;
• electronic invoicing;
• accounting software;
• payroll systems;
• document management;
• banking platforms;
• internal communication and collaboration tools.

For a foreign owner, it is particularly important to establish who has access to these systems.

The company should not depend entirely on one external accountant or employee for access to critical administrative accounts.

Days 30–60: Building the Local Organisation

Once the basic infrastructure is operational, the focus should shift towards people and business processes.

Hire the first employees

For many foreign investors, recruitment is one of the main reasons for establishing a Romanian company.

Romania has a substantial pool of professionals in areas such as IT, engineering, finance, accounting, customer service, sales, manufacturing and shared services.

However, recruitment should not start with a generic job advertisement.

Before recruiting, the investor should define:

• the exact responsibilities of each position;
• reporting lines;
• salary expectations;
• working location;
• working hours;
• required qualifications;
• language requirements;
• benefits;
• probation arrangements;
• employment documentation.

The first employees are particularly important because they often become the foundation of the Romanian organisation.

A common mistake is to recruit too quickly simply because labour costs appear attractive.

The objective should instead be to build a sustainable local team.

Understand the real cost of employment

Salary is only one component of the cost of employing somebody in Romania.

The employer needs to consider the complete employment cost, including statutory employer obligations, benefits, payroll administration and other employment-related expenses.

Foreign investors should therefore prepare a realistic personnel budget before making recruitment decisions.

For companies moving activities from Belgium or the Netherlands to Romania, this comparison can be particularly interesting.

The question should not simply be:

"How much does a Romanian employee earn?"

The more relevant question is:

"What is the total cost of having this employee in Romania, and what value can this position generate for the company?"

This distinction is important when preparing a nearshoring, outsourcing or shared-service operation.

Days 60–90: From Administration to Business

By the third month, the Romanian company should gradually move away from being primarily an administrative project and become a functioning business operation.

Establish contracts with customers and suppliers

The company should now have the necessary commercial agreements in place.

Depending on the activity, this may include:

• customer contracts;
• supplier agreements;
• employment contracts;
• office rental agreements;
• IT and software agreements;
• logistics contracts;
• consultancy agreements;
• intra-group agreements.

Foreign investors should pay particular attention to contracts between the Romanian subsidiary and its foreign parent company.

These relationships may involve management services, intellectual property, financing, personnel, equipment or other intercompany transactions.

Such arrangements should be structured correctly from the beginning and reviewed from accounting, tax and legal perspectives.

Create a local management structure

One of the most underestimated questions after incorporation is:

Who is actually running the Romanian company?

The shareholder may be located in Belgium, the Netherlands, Germany or another country.

But the Romanian company still needs somebody who can deal with day-to-day operations.

This may be:

• the managing director;
• a local general manager;
• an HR manager;
• a finance manager;
• an operations manager;
• or, initially, an external local management partner.

The important point is that responsibilities need to be clearly defined.

A Romanian company should not become an entity where everybody assumes that somebody else is taking care of the local administration.

As soon as employees are hired, the company needs proper HR procedures.

These can cover:

• employment contracts;
• employee files;
• working time;
• holidays;
• absence management;
• payroll;
• workplace policies;
• health and safety;
• recruitment;
• onboarding;
• performance management;
• disciplinary procedures.

For a company with only one or two employees, this may initially seem excessive.

It is not.

Good HR administration from the beginning makes expansion considerably easier.

When a company grows from five employees to 50, rebuilding the entire HR structure becomes considerably more complicated.

Not every Romanian company has the same administrative requirements.

A consultancy company operating from an office will have very different requirements from a manufacturing company, restaurant, agricultural operation, construction company or logistics business.

During the first 90 days, investors should therefore confirm whether the company's actual activities require additional:

• authorisations;
• operating permits;
• environmental approvals;
• fire safety documentation;
• local permits;
• sector-specific registrations;
• professional licences.

This is particularly important where the company's registered activities and its actual activities are not identical.

The company should be operationally compliant—not simply incorporated.

By the end of the first 90 days, the investor should have a clear financial picture of the Romanian operation.

The initial plan should cover:

Area	Key question
Revenue	When will the Romanian company generate its first revenue?
Payroll	How many employees will be needed during the first year?
Office	What premises and infrastructure are required?
Equipment	What investment is required?
Accounting	What will administration cost?
Taxes	What tax obligations need to be anticipated?
Working capital	How much cash is required to operate?
Growth	When will additional investment be necessary?

This is particularly important for foreign investors who initially underestimate the amount of working capital required.

A company can be profitable on paper and still experience cash-flow problems.

The 90-Day Checklist for Foreign Investors

At the end of the first three months, a newly established Romanian company should ideally have the following elements in place:

Corporate

• Company registration completed
• Bank account operational
• Shareholder and management structure established
• Corporate documentation organised

Finance & Tax

• Accountant appointed
• Accounting system operational
• ANAF/SPV access established where applicable
• Invoicing and e-Factura processes implemented where applicable
• Tax calendar established

HR

• Employment strategy defined
• Employment contracts prepared
• Payroll operational
• Employee administration organised
• Recruitment pipeline established

Operations

• Office or operational premises secured where required
• IT infrastructure installed
• Suppliers identified
• Commercial contracts prepared
• Internal procedures established

Management

• Local responsibilities clearly defined
• Reporting structure established
• 12-month budget prepared
• Growth plan established

Incorporation Is Only the Beginning

The biggest mistake a foreign investor can make is to treat company incorporation as the completion of the Romanian investment project.

It is not.

The registration of an SRL creates the legal vehicle. The first 90 days create the business infrastructure.

This is where the investor needs to transform a Romanian company number into an operational organisation capable of hiring people, signing contracts, invoicing customers, managing suppliers and generating revenue.

For Belgian and Dutch SMEs in particular, this first phase can be significantly easier when local support is available.

A local partner can help coordinate company administration, accounting, recruitment, HR, office infrastructure, project management and the practical implementation of the investor's business plan.

The objective is not simply to create a Romanian company.

The objective is to create a Romanian company that is ready to do business.

The real question for investors

Instead of asking:

"How quickly can I incorporate a company in Romania?"

a better question is:

"How quickly can I make my Romanian company fully operational?"

That difference can save time, reduce administrative risks and help investors reach the commercial stage much faster.

The first 90 days are not paperwork. They are the foundation of the next 10 years.

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