General Information

France is Romania’s 3th largest economic investor. Its economic presence is spread across all business sectors, particularly in the automobile, banking, insurance, distribution, aeronautics, health, pharmaceutical and energy sectors.

There are still numerous commercial and investment opportunities in Romania, a country where the taxation system is highly favourable for businesses (corporate rate of 16%) and individuals. There are no longer any restrictions on the regulation of currency exchange and dividends can be repatriated without limit.

Means of Payment & Banking Specificities

Cash payment by SWIFT transfer before shipment is highly recommended. Cheques issued by businesses should be avoided. Cheques are, at any rate, rarely used as the banking regulations enables legal proceedings and financial penalties in the case of unpaid cheques. The provision of an export credit agency backed financing or, potentially, an irrevocable and confirmed letter of credit should also be considered. Avoid stand-by credit letters. The confirmation of documentary credits is possible in Romania. It will be studied on a case-by-case basis in accordance with the counterparty and the duration of the commitment. Most transactions in Romania are carried out following payment in advance, as advised above.