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Startups in Transylvania

Hello and welcome to Transylvania Beyond's guide to starting a small business in Transylvania.

CORPORATE TAXATION

Romania has one of the lowest tax rates on the continent: the standard corporate tax rate is 16%, about half the tax you would pay in France or Germany. Fiscal incentives include tax exemption for the reinvested profit. The income tax for IT&C employees is 0%. The tax on dividends is 5%.

PERSONAL TAXATION

Resident individuals are taxed on their worldwide income irrespective of the type or source of income; a flat rate of 10% applies. You will pay about 4x less than in UK, France or Germany and 3x less than than the European average.

DOING BUSINESS IN ROMANIA

You will find information about the macroeconomy, education, wages, cost of living, tax, infrastructure, doing business, government support, success stories. According to Eurostat, Romania is among the Top 3 countries with the highest GDP growth in the EU.

If you make €5000 a month in London, you would need to make €1850 in Bucharest to maintain the same standard of life.
If you open a business in Romania, you should know that overall, the hourly labor costs in Romania are around 6.3 euro/hour, which is about 4.25x less than the EU average.

Romania trade & export guide by gov.uk

Benefits for UK businesses investing in Romania

A domestic market of nearly 20 million consumers, English is widely spoken, it is a gateway to markets of the Commonwealth of Independent States (CIS) and the Balkans, low cost flights. The EU has allocated EUR 23 billion to Romania until 2020. The funds will contribute to investments in Romanian infrastructure, human development, regional development. The resulting projects will provide good prospects for UK businesses.

Strengths of the Romanian market include

Young, skilled and educated workforce, well established support in Romania from foreign lawyers, accountants and consultants, implementation of Single Euro Payments Area (SEPA) standards for euro payments, an abundance of natural resources, western business practices

OTHER REPORTS

Doing Business in Romania Report by the World Bank Group (2019)

This report focuses on business regulations that have an impact on small to medium-size businesses in Romania. The study covers measures in regulations affecting the following areas: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation.

KPMG Investment in Romania (2018)

The KPMG guide for those who want to invest or do business in Romania. The guide contains general information about: forms of business organisation, taxation in Romania, banking and finance, commercial rules, real estate, EU funding, labor regulations and employment standards, the legal system, protection of intellectual and industrial property rights, accounting,  competition (main legal issues), environmental protection.

The AmCham's Guide to Investing in Romania (2015)

Another excellent source of information in English about investing in Romania comes from the American Chamber of Commerce in Romania. The guide covers general information about Romania, forms of business organisation, taxation, banking and finance, general commercial rules, real estate in Romania, EU funding, labour regulations and employment standards, the legal system, protection of intellectual and industrial property, accounting, competition in Romania – main legal issues and environmental protection.

Romanian startups

The Romanian tech startups directory: startups, founders, incubators, accelerators, events. Find out what’s hot on the Romanian startup scene and connect with relevant startups. It is noteworthy that Liverail, one of the most successful tech startups in Eastern Europe of all times – recently bought by Facebook for $500 mln – was created in Cluj, Transylvania.

CO-WORKING SPACES IN TRANSYLVANIA

CLUJ

CLUJ COWORK

Contact Daniel Prindii: contact@clujcowork.ro | +40 770 128 228

CHAOS CC

Contact Claudiu Marginean: chaosclubcluj@gmail.com  |  +40 720 801101

CLUJ HUB

Contact: contact@clujhub.ro | +40 740 021 644

FABRICA DE PENSULE

Contact: info@fabricadepensule.ro | +40 0727 169 569

BRAȘOV

ALCHEMY HUB

Contact: office@alchemy-hub.ro | +40 730 830 760

HUB 1317

Contact: contact@hub1317.ro | (+40) 744 583 682

HUB ONEZERO

Contact: sabina.milcoveanu@hubonezero.ro | +40 737 032 505

MIERCUREA CIUC, HARGHITA

THE HOUSE

Contact: hello@thehousecowork.ro |  +40 744 483 213

ORADEA

COWORKING OFFICE ORADEA

Contact: info@coworkingoradea.ro | +40 726 773 656

ORADEA TECH HUB

Contact: info@coworkingoradea.ro | +40 726 773 656

SFÂNTU GHEORGHE, COVASNA

INNOHUB

Contact: hello@innohub.center | +40 729 101 963

TÂRGU MUREȘ

INNOWORK

Contact: monica@innowork.eu

STARTUP & TECH ECOSYSTEM IN TRANSYLVANIA

CLUJ

ITECH TRANSYLVANIA CLUSTER

Contact: aries.transilvania@gmail.com

CLUJ INNOVATION PARK

Contact: office@clujinnovationpark.ro | +40 264 450 320

SPHERIK ACCELERATOR

Contact: contact@spherikaccelerator.com

CLUJ MEETUP COMMUNITIES

Contact forms available on the website

DIGITAL TRANSFORMERS

Contact: studio@digitaltransformers.co | +40 742 180 889

CLUJ STARTUPS

Contact: form available on the website

STARTUP TRANSYLVANIA

Contact: contact@transilvaniastartup.ro | + 40 734 222 052

TRANSYLVANIA EVOLUTION

Contact: transylvaniaevolution@gmail.com | +40 745 546 088

TECH ACADEMY

Contact Olivia Frosin: olivia@techacademy.ro  |  +40 744 549 898

INVEST CLUB

Contact: contact@investclub.ro | +40 745 264 938

TECHSYLVANIA

Contact: contact@techsylvania.co

IT CAMP CLUJ

Contact: contact@itcamp.ro

RISKY BUSINESS ACCELERATOR

Contact: withus@riskybusiness.ro

SEED FOR TECH

Contact: contact@seedfortech.ro | +40 766-810276

SIMPLON

Contact: contact@simplonromania.org | +40 785 666 553

BRAȘOV

ALT BRASOV

Contact: form available on the website | +40 736 354 425

ODORHEIU SECUIESC, HARGHITA

HARGHITA BUSINESS CENTER

Contact:  info@hbcenter.ro | +40 366 567 941

EXPATS IN Romania

INTERNATIONS

A large expat community. you can find useful information about moving to Romania, working and living here, events for expatriates.

EXPAT EXCHANGE

Forum for expats living in Romania or people considering a move to Romania.

EXPAT IN ROMANIA

Life in Cluj, Transylvania, through the eyes of an expat.

ROMANIA INSIDER

Daily news in English about life in Romania: expat life, experiences, voice of the community and financial affairs