Romania corporate bank account in 2024

Healy Consultants aids our global trading Clients to enter the EU markets and obtain quality corporate banking facilities in Romania to support their trade. With our expert corporate banking team, Healy Consultants minimizes red tape, due diligence and project management burdens. As part of our business setup package or separately, optimized corporate bank applications are prepared and submitted on our Client’s behalf. Below you can read our complete corporate banking guide for Romania.

Romania financial sector and players

• The banking sector in Romania is safe with high capital adequacy ratio of 14.9% in 2014. Romania’s banking sector should become one of the leading ones in Central and Eastern Europe in terms of loan growth in 2014-2018, reaching 10% per annum;
• Romanian banking sector is dominated by foreign-owned banks, predominantly by subsidiaries of French, German and Italian banks. The largest foreign institutions in Romania including i) Erste bank ii) Societe Generale iii) Unicredit Bank and iv) Raiffeisen bank;
• Healy Consultants recommends to our EU, Asian and listed Clients looking for business banking in Romania to choose one of the above mentioned International , reputable banking groups, as they boast wider range of quality services;
• In most cases we recommend our Client to initiate bank account opening with a bank with which they already have a bank account in another home country. This strategy will reduce i) the final timeline of the process and ii) the banks’ security clearance;
• While the Romanian banking sector is dominated by international banks, there is a Romanian bank in the top 3 financial institutions by assets, namely Banca Transilvania. This large local corporate and retail bank provides quality facilities and supports online banking in English. This bank also requires significantly less due diligence and is generally more flexible.

Healy Consultants Romania corporate banking services

• Healy Consultants boasts a knowledgeable banking team to timely expedite our Clients’ engagement, securing a corporate bank facility in Romania. Our fees to assist our Clients open a corporate bank account in Romania is €4,950;
• Many Clients request Healy Consultants to support and advise them how to obtain additional financial support for their start-up ideas in Romania. Please read below for further information:
  • Following recent financial crisis in Europe and lack of profits in the banking sector, banks in Romania return to increase their portfolio of non-resident Clients and provide additional credit facilities. Healy Consultants supports start-ups to secure corporate finance in the form of i) a business credit loan ii) short-term extended credit lines iii) business credit card with overdraft facility or iv) preferential general terms for new businesses;
  • To secure these facilities, Romanian banks will require clear business idea and due diligence, including: i) Country specific business plan together with SWOT analysis ii) sufficient collateral iii) sufficient qualification and education of the management and iv) in some cases audited financial statements of up to 3 years back;
  • Romania is a convenient place to register trading business, due to its great location and maritime trade options. Many Clients wish to obtain EU trade finance facilities. Healy Consultants will be happy to negotiate terms with a local Romanian bank for services such as i) long-term bank guarantees ii) letter of credit iii) finance against trust receipt (for imported goods) and iv) document against payment and against acceptance.

Opening a corporate bank account in Romania

In order to open a corporate bank account on our Client’s behalf, Healy Consultants will proceed as below:

• As part of our engagement planning process, Healy Consultants will recommend to our Client the optimum local or international bank available from the options available;
• To deposit the minimum required issued share capital, Healy Consultants will assist our Client open a temporary cumulative corporate bank account. Our Client deposits the minimum paid up share capital of €50 and supplies Healy Consultants with a certificate of deposit;
• After the company is fully incorporated, the cumulative account can be transferred to a corporate account, as Healy Consultants will submit a complete corporate bank account opening application for the transfer;
• If required, Healy Consultants will attend bank interviews or meetings on behalf of our Client to secure timely corporate bank account approval;
• Once the corporate bank account is approved, Healy Consultants couriers Client the bank account details and internet banking device.

Exchange controls and other regulation

• Since the 1^st of April 2005, Romania introduced new Foreign exchange control regulation 04/2012;
• In accordance to the new regulation, Romania does not impose foreign exchange controls or specific restrictions on payments to foreign individuals and companies;
• Both residents and non-residents can perform current and capital transactions without restrictions;
• Both residents and non-residents are allowed to a “full retention” in Romania as they both can open bank accounts in foreign currencies, including €, US$ and any other currency available;
• National Bank of Romania, does not impose additional restrictions on the amounts of foreign currency that residents may hold in their bank accounts.