Young Entrepreneurs (SRL-D)

Setting up a limited liability company is allowed to all persons of age who have not had the quality of associates or shareholders within other companies with their head office in Romania or in the European Union.

The company can be constituted of one or more associates (maximum 5 young entrepreneurs) who meet the aforementioned condition and it is managed by one of the associates.

The activities are restricted to maximum 5 groups of activity.

Are excluded: financial intermediary services and insurances, real estate transactions, gambling and betting activities, production or trade of guns, ammunition, explosive, tobacco, alcohol, substances under national surveillance, plants, narcotics and psychotropic substances as well as the activities excluded by the European standards for which State aid cannot be granted.

Facilities SRL-D benefits of:
– non-refundable financial grants representing no more than 50%, but not more than EUR 10,000 or the equivalent in Lei, of the value of the project corresponding to the business plan;
– guarantees granted by the National Credit Guarantee Fund for Small and Medium-Sized Enterprises, up to 80% of the requested loan amount, within the limit of the amount of EUR 80,000 or the equivalent in Lei;
– exemption from social security contributions owed by the employers, according to the law, for the income related to the time worked by no more than 4 employees
– exemption from paying the fees for registration operations

To benefit from these facilities, SRL-D shall have the obligation:
– to give a written notice regarding the setting up to the territorial office for small and medium-sized enterprises and cooperatives (O.T.I.M.M.C.)
– to hire under an employment contract for indefinite period, full-time, and maintain in the activity at least 2 employees

The quality of micro-enterprise belonging to the young entrepreneur shall be lost by the operation of the law:
a) on 31st December of the year marking 3 years from the registration date;
b) on the date on which any of the competent authorities observe that the company no longer complies with one of the conditions provided for its setting up
c) on the date on which the activity has voluntarily ceased or when the insolvency procedure was initiated;
d) on the expiry of 45 business days from the maturity date of an unfulfilled fiscal obligation;
e) upon submitting the quarterly or annual financial statement, if the turnover for the current year has reached the equivalent in Lei of the amount of EUR 500,000.