Starting a business in Romania

Why the fuck are you on BIZ if you aren't investing in crypto, wtf is wrong with you?

Romanian girls are pretty cute too. Watch out for the gypsies though.

you will unironically get better answers with this from reddit.

>Hey guys,
>Im about to start a company in EU.
>
>Im flexible, as in I can live wherever and spend a couple years there.
>
>Romania has gotten my attention because its cheap, taxes are low and there are good engineers. Also, a potential investor is there.
>
>Any other biz/guy opened a business there? Is it a good idea or should I look somewhere else? Testimonials are welcome thanks.

What is ICO price?

OP I wouldnt recommend Romania, Id go a bit more West. I was in a similar situation 4 years ago, after some research narrowed my choices down to 3: Slovakia, Hungary and Slovenia.
These countries are cheap compared to the west BUT are close enough to them in terms of culture and bureaucracy that its not a pain in the ASS to get things done. Do expect corruption tho, but that mostly depends on the field you are in.

Which country did you pick in the end?

Weird I know.
I plan to build a real product and have real customers.

killed me.

>
Hungary but mostly because of connections, it helped start things off. If I would start completely from zero ATM Id probably pick slovakia.

OK. Is Romania really that bad?
Taxes are lower than Hungary and Slovakia..

That really depends on what you do. You said that you need engineers so Im guessing youd be based in Bucharest. As far as I can tell (been there twice) its a nice city quite "westernlike", but from what I hear (and saw when I was there) rural Romania is quite simply lagging behind and full of problems. Again, it depends on what you do.

Taxes might be lower, but Id take +10% taxes if it means that my everyday work is going easy and smooth, I dont need any additional headaches.

OK I understand.
Well my business is kind of a"one shot" thing, meaning I it either takes off or crashes quite quickly. I dont intend to become big so for now Im not afraid of problems running the business on a day to day basis.
Is Bucharest nice to live?

>OK I understand.
>Well my business is kind of a"one shot" thing, meaning I it either takes off or crashes quite quickly. I dont intend to become big so for now Im not afraid of problems running the business on a day to day basis.

You will have problems from day 1. What I meant is that for me at least (and as I was told by friends who work/ worked in romania) its easier to for example register your company in one of the 3 countries I mentioned, then in Romania. Or open a bank account as a foreigner, or get a license or get approved for whatever. As I said from a bureaucracy standpoint the 3 seem to be much better.

>Is Bucharest nice to live?

No clue, you gotta ask someone who lives there. As a tourist its pretty nice.
What I can say tho is that Budapest is fucking awesome

Interesting thanks for the feedback

How much taxes are you currently paying? more importantly how much are you taxed on your dividends? Are good engineers expensive?

I'm from Slovakia so I can confirm that every single IT company is moving here for cheap quality labor.

you can ama

On top of net salary you pay about 54% taxes (the company)

As with probably every other country listed in hungary you can quite easily cheat the tax laws, be it salary or dividents. But they tax divinends at about 40%.

sounds like a lot compared to Romania/Bulgaria

I'm from Hungary. Ask any question.

I lived in Brazov from 2002-2003. Back then it was fucking awesome. Most of the Romanian's lived on $20 week so I lived like Elvis. Good people. Fun times.
Don't know what it's like nowadays, but good luck user.

What kind of business?

Have you ever been to a skinhead bar in Slovakia? Visiting one is on my bucket list.

How it business creation there?
How much are you taxed (dividends?)?
How easy is it to hire and fire?
How are the girls there?

Software (consumer)

Listen to the people telling you not to come here, I don't know jack shit about Slovakia or Hungary and I can tell you it's probably going to be better than Romania when it comes to starting a business. The bureaucracy is insanely horrible and most of the public/state workers are old which means they won't speak English. On top of everything else, we're about to get our taxes raised too. Even if you decide to come here, stay away from Bucharest unless you absolutely want your business to be in the capital and go for Cluj instead, especially if it's IT related. I'll give you more details if you want and if I know the answers.

why stay away from bucharest?

>implying that crypto is not real and doesn't have real people putting money into it

Hmmm, I see. You could start a business where you suck off gypsies so they leave the humans living there in peace.

From a business perspective I can't offer any counter-points.

However the day to day life is simply better. Cleaner streets, better people, less corruption. The entire Transylvanian region is simply different compared to the rest of the country, it's more civilized overall. There's fewer gypsies too. Only downside I can think of when it comes to Cluj is that there is no subway. If you're a burger though this is Europe and we have a proper public transportation infrastructure, there's buses and trams as regular as every 5 minutes depending on the route. Also the taxis are dirt cheap.

what about timisoara?

ROfag here but corporate drone so take with grain of salt. Let's see.

- easy to start a business? Not really, at least not part of "top 10 easiest places to start a business". Constantly changing and confusing laws. You'll anyhow hire a lawyer and an accountant (or companies) to handle all these and prices for this are low. Doing it yourself though ... nope. Also don't count on them being totally honest if going with a small/cheap operation.

- low costs. Well , if you're talking about IT then salaries are not THAT low compared to western europe. What's lower is the total cost of hiring someone. And this brings us to the next item

- lots of engineers. If by engineers you mean "IT workers (devs/sysops)" then what's also lots is the number of international corps competing for them. Having an entire department poached is not unheard of (they already work as a team, right?).
If by engineers you mean electrical/mechanical etc then there is also lots but salaries are lower and worker mobility is also lower.
Bucharest = lots of employee choice with higher salaries and office space rent. Cluj/Timisoara/Oradea/Iasi/etc = lower salaries but close to zero unemployment.

- english: everybody under 30 speaks it due to cartoons not being dubbed (this is changing though)

- internet: everybody has it because it's dirt cheap because long story

- work culture: different. Much more "fly by the seat of the pants", "what do you mean by manual?" and much more "cram everything before the deadline" than you're used to. Expect less and shorter meetings. Expect discontent not to be openly shown but employees ghosting is a thing.

- girls: run the whole gamut, from strong independent womyn to on with the ring before in with the thing. On average she will want to be able to explain what you do to her mom. Panties will not drop beacuse you're foreign but you will get 2 extra minutes of attention.

What have I not covered ?

Never been but I heard good things about it. My recommendations as far as Romania goes are Cluj, Sibiu and Brasov.

Thanks for the details

How is life there overall? I heard nightlife in Bucharest was awesome.
How's healthcare?

>corporate drone
Normalau homalau, afaraaaaa, Veeky Forums e pentru neeti si antisociali.
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insightful , thanks

Any here running a Business in Bulgaria? Super low taxes as well

I am a foreign student living in Debrecen. I invested in dividend-paying Hungarian stocks. How much should I expect to pay in tax here? If I take advantage of my country's double-tax treaty, could that number be 0?

Yeah you should invest in romania.
Romania in Paris