Thursday, February 6, 2014

Start an outsourcing company in Romania

Outsourcing is a major strategy which is taken into consideration by powerful corporations around the world. Romania delivers resources for a large range of domains representing the shared service centers and the business process outsourcing.

The outsourcing field became a preferred alternative for a large number of companies and Romania gradually developed solid strategies to provide multiple options in this area. Even if Central Eastern Europe is already an established market for these types of services, the resources to sustain newly incorporating entities prove inexhaustible. The main reasons behind this fact directly relate to highly skilled labor force which is available in these European countries and Romania is no exception. Besides the language proficiency level which impressively exceeds high standards by far, education covering specific fields provides flawless experts and, most important, always easy adapting to change. Another benefit which is as well taken into consideration by investors concerns the human capital which is at low costs. State incentives for companies investing in Romania are considered as key factors influencing frequently the decision to continue or initiate business activities in our country. Ministry of Public Finance recently announced that seven companies shall receive up to €67 million as state aids for creating 3,151 new jobs, for the next three years. Indeed, as numbers indicate the IT field is the favorite choice but other domains are professionally covered as well. If intending to start an outsourcing company in Romania investors should know that the finance area, administrative services, accounting, collections, procurement, engineering services, legal services, real estate, warranty management or tele-sales are important sectors that successfully accomplish all required functionalities of an outsourced department.

Most prominent benefits when deciding to open a BPO business in Romania strictly refer to reducing costs, cash infusion aspects, saving internal resources for different tasks, raising standards through enlarging perspective on labor quality since world-class workforce is taken into account. Social contributions in Romania refer to social security, unemployment fund, risk fund, medical leave and allowance and health fund. Corporate taxation varies for resident and non-resident companies. Entities that can be defined as resident are to be taxed according to their worldwide income but those companies which are not resident will be taxed for their incomes obtained in Romania. Incomes which are considered as exception from taxation may refer to dividends. Starting January, 1st, 2014, dividends obtained by a resident company from another resident company (which can be from an EU member state or a non-EU territory sharing a tax treaty with Romania) shall not be taxed provided the beneficiary company possesses at least ten percents of the other company’s shares, for a time interval of a continual one year. The sale of shares and also of real property, by resident and non-resident companies, is considered part of the profit and a 16% tax is applied for such cases. Our team is available for any additional detail and for legal counseling intended to handle any procedure common for incorporating BPO companies in Romania. 

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