How to Open a Business Bank Account in Romania: A Practical Guide

Opening a business bank account is one of the first tasks after registering a company in Romania. A local account is essential for paying suppliers, receiving client payments, handling payroll and meeting tax obligations. While each bank has its own internal procedures, the overall process is similar and straightforward if you prepare the right documents.

Why You Need a Romanian Business Account

Romanian companies are required to have at least one bank account for conducting business transactions. Even if your company is part of an international group, a local account simplifies dealings with Romanian partners and authorities, supports lei-denominated transactions and gives you access to local payment systems such as direct debit and e-invoicing.

Documents You Will Need

Banks in Romania are legally obliged to verify the identity of clients and beneficial owners. Gather these documents before visiting a branch or starting an online application:

• Certificate of company registration (certificat de înregistrare) issued by the Trade Register.
• Articles of association (act constitutiv) in their updated form.
• Tax registration code (cod unic de înregistrare, CUI).
• Proof of registered office address (e.g. lease agreement or property deed).
• Identity documents (passport or national ID) of the legal representative(s) and, in some cases, authorised signatories.
• Information on the ultimate beneficial owner(s), including a declaration of beneficial ownership.
• For non-resident legal representatives, additional proof of address and, sometimes, a Romanian tax number (NIF).

Some banks may also request a specimen signature card or a board resolution authorising the opening of the account.

Step-by-Step Process

1. Choose a bank. Compare account fees, monthly charges, online banking features and branch availability. Larger banks often have English-speaking staff and dedicated desks for corporate clients.
2. Prepare your documents. Ensure all certificates are valid and translations are available if originals are in a foreign language. Most banks accept documents in Romanian or English.
3. Submit the application. You can usually start the process online or by visiting a branch. The bank will run anti-money laundering (AML) and know-your-customer (KYC) checks, which may include questions about your business activity and expected turnover.
4. Sign the account agreement. Once approved, you will sign a framework contract covering the account terms, fees and electronic banking services.
5. Make an initial deposit. Many banks require a small minimum balance to activate the account. This amount varies and may be waived for new businesses.
6. Activate online banking. You will receive login credentials or a token device. Set up your profile, add users and connect the account to your accounting software if needed.

Practical Tips

• Allow one to two weeks for the entire process, especially if you need to translate or notarise documents.
• If you are a foreign national, check whether the bank accepts your country's identification documents or requires an apostilled copy.
• Ask about multi-currency accounts if your business deals with euros, US dollars or other currencies.
• Keep your account active even if you do not use it daily; dormant accounts may incur maintenance fees or be closed.
• Inform your bank of any changes to company details, beneficial owners or signatories to stay compliant.

Opening a business bank account in Romania is a manageable task with proper preparation. By gathering the required documents and understanding the typical steps, you can set up your company's financial foundation quickly and focus on growing your business.