What business startup options are available to Ukrainians in the Republic of Moldova who wish to establish their own company, and what steps are required to register a limited liability company (LLC), a representative office of a Ukrainian company, and a sole proprietorship (SP)?

Share

Ukrainians who have come to the Republic of Moldova and wish to open their own business can do so through the following methods:

- establishing a Limited Liability Company (LLC);

- registering a branch office of an Ukrainian company;

- registering as an individual entrepreneur.

LLC, branch, or individual entrepreneur in Moldova should be registered with the Population Service Agency (PSA). Registration is considered complete upon the decision on registration by the PSA registrar for the legal entity or individual entrepreneur.

Typically, the registration procedure for LLC, branch office, or the individual entrepreneur involves the following steps:

1. The founder makes decisions regarding the company's name, share capital, management, and legal address. Once all the relevant decisions have been made, the founder prepares the necessary documents in Romanian for the company's registration in the PSA;

2. The founder or representative should visit the PSA (1st visit) to submit the documents and pay the registration fee. The registration fee is approximately 100 EUR for registering LLC or branch and approximately 30 EUR for registering the individual entrepreneur. Accelerated registration increases the fee to approximately 250 EUR for registering an LLC or branch and approximately 90 EUR for registering the individual entrepreneur. At the time of application, a PSA employee conducts a quick check regarding the company name, the existence of inactive/debt-ridden companies in the founder's name, the presence of other companies under the proposed director's supervision, and other checks. Assuming that the submitted documents comply with legal requirements and the check result is positive, the PSA employee schedules an appointment with a state registrar (appointments are made within 2 working days from the time of submission or within 4 hours for accelerated registration);

3. On the scheduled date and time, the founder or representative should visit the state registrar (2nd visit) to sign the statute and confirm the company's registration. The PSA registrar issues a decision on registration and a charter that is notarially certified by the PSA registrar.

Features of LLC registration

An LLC can be registered by an individual or a legal entity. Moldovan legislation does not set a minimum statutory capital requirement, allowing founders to establish an LLC with a minimum statutory capital of just 1 Moldovan leu.

To register an LLC, the following documents are necessary:

- identity documents of the founder or representative (if applicable);

- official request for company registration;

- decision to establish the company;

- the company's charter;

- completed declaration regarding the beneficial owner and politically exposed person status;

- power of attorney, if the founder will act through a representative.

Features of Branch Office Registration

Registering a branch office of a Ukrainian company in Moldova imposes an obligation on the foreign founder to assume responsibility for the obligations of such an office.

To register a branch office of a Ukrainian company in Moldova, the following documents are required:

- an official request for branch office registration;

- certified decision to establish the branch office, including information about the establishment of the branch office, approval of its regulations, and the appointment of a manager;

- regulations of the branch office, including information about its legal address, activities, the organizational form of the founder, the name of the branch office, details about the director and his/her powers;

- document confirming the location of the branch office (e.g., lease agreement);

- certified extract containing information about the founder, such as the country of registration, location, registration number, and authorized representatives;

- founding document of the founder;

- financial statements of the founder for the last reporting period;

- power of attorney issued by the founder (in Ukraine or Moldova), if the founder will act through a representative.

Features of individual entrepreneur registration

Registering as an individual entrepreneur requires the submission of fewer documents and involves simplified accounting. However, in this case, the founder is personally responsible for the activities of the individual entrepreneurship.

To register as an individual entrepreneur, you should submit:

- official request for the registration of an individual entrepreneur;

- completed Beneficial Owner Declaration and Political Exposed Person status declaration;

- identity documents of the founder or representative (if applicable).

Important note! Documents drafted in Ukraine or issued by Ukrainian authorities do not require apostille, but the founder should provide all documents either translated into Romanian or presented in both Romanian and Ukrainian languages.

For more details on the registration process, accounting procedures, and the termination of entrepreneurial activities, please refer to the provided link.