ABOUT THE AUTHORS
INTRODUCTION
RULE 1. I DO MY HOMEWORK
Why Romania?
Is Romania suitable for my business model?
Is my business model suitable for Romania?
Language differences
To start fresh or to buy a company?
RULE 2. I UNDERSTAND THE BUSINESS PRINCIPLES
Documents must be in perfect order
Documents must be stored securely
The company's budget is one thing, my personal budget is another
RULE 3. I BECOME FAMILIAR WITH THE PRACTICAL DETAILS
How do I choose my office?
I open the company. My first steps with the lawyer
I choose the right bank and open the account
Should I protect my brand?
To which authorities do I report?
RULE 4. I GET A GOOD ACCOUNTANT
How do I choose my accountant?
Notary power of attorney for my outsourced accountant
Do I need to have an interpreter?
The first steps in the accounting of my business in Romania
How do I get the VAT code?
Deductible expense or not? 5 examples
The first money in the company: to lend my business?
The first piece of inventory
Online tax calendar
When moving office
RULE 5. I PUT TOGETHER A GOOD TEAM
How do I recruit?
Hiring the first employee
HR documents
Using the services of freelancers who have their own company
Using the services of a freelancer who has a PFA
RULE 6. I OPTIMISE MY TAXES
How to read a Romanian trial balance, with examples
Becoming familiar with the tax deadlines
High revenue, low profit? I need to try this
Hiring an employee
Getting tax benefits for vouchers
Subcontracting
Real estate owner?
Understanding my Annual Financial Statements
Converting my Annual Financial Statements to IFRS
RULE 7. ONE EYE ON CASH AND THE OTHER ON EQUITY
Withdraw dividends only if needed
How do I increase the value of my business?
RULE 8. FASTEN SEATBELT
My first tax inspection
Get my tax returns certified
High Net Worth Individual? Watch out for this
In case of an emergency
Shenanigans
Lessons learned
RULE 9. ATTENTION TO THE MOST COMMON RISKS AND MISTAKES
Not filing tax returns when the business is new
Not purchasing the Inspection Register in 30 days from starting
Suspending work at the beginning of a crisis
Underestimating the importance of cashflow
Too large inventories
Forgetting important things
Expired office rent contract
Expired administrator’s mandate
Lost correspondence
Not filing all tax returns
Not revaluing real estate every 3 years
Neglecting the 6-months rule
Documents not reflecting the reality of the operations
Ending up with a tax record
Not using the crisis as an opportunity
Missing the trend towards digitalisation
RULE 10. NEXT IS BEST
Option 1. I sell my business
Option 2. I divide the business
Option 3. I close my business
AFTERWORD
ACRONYMS
BIBLIOGRAPHY
COMING SOON
