Relocation Romania

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A guide to our services
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Relocation Service

Transcript of Relocation Romania

Page 1: Relocation Romania

A guide to our services

Page 2: Relocation Romania

At Relocation Romania, we are famous for our friendly, expert services in dealing with the sensitive & complex matters involved in moving to a new City or Country. Our team will assist clients with every aspect of relocation, from home-search to finding a hairdresser, from tax registration to staff recruitment.Relocation Romania is a proud partner of White Mountain Property, one of the most highly regarded & trusted real-estate agent by expats & locals alike serving Bucharest, Brasov, Cluj, & Sibiu & their surrounding counties.

About Us

• Accommodation• Relocation

Essentials• Property

Management• Additional services

Our Services

Case StudyTax AdvicePricingContact Us

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It’s not easy getting to grips with an entirely new country. Partners and spouses, especially, can sometimes feel isolated or just uncertain about how to enjoy the best from their new home from home.We offer designated Personal Consultants who will advise you on important matters - like registering with a local medical practice - and help you get to know your new neighborhood by showing you the transport links, shops, sports amenities, parks, restaurants and cinemas.

Ask Us: We are here to help!

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1. About us…Relocating is an exciting and emotional experience. Whilst a new overseas job can be challenging & rewarding, the background & domestic issues should not be overlooked, nor unnecessary strain put on families directly or indirectly involved.

That is why we ensure the emotional matters, as well as the practical matters are all fully catered for. Whether it is to ensure a housekeeping spouse finds integration in the community through the many social networks that exist, or just a good hairdresser, we make it our role to be there 100% of the way through your journey. Our staff are there for you 7 days per week

Founded by expat Damian Galvin in 2006, who moved from the UK to develop both Relocation-Romania & White-Mountain-Property, his carefully chosen team of people come from a variety of backgrounds & have plenty of experience in achieving smooth staff transitions to Romania, ensuring you are in the best possible care. Dependable, Resourceful, Professional are the by-words of our company.

For my business trips to Brasov in 2010, Relocation Romania arranged accommodation that was, in fact, one of the nicest places I have ever stayed.. But what impressed me most was their personal touch & sense of customer service. Highly recommend these guys to anyone. Martin Byrne, Marketing Manager, Dell Computers, July 2010.

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2. Accommodation and homes!

Hotel and temporary accommodation

Area searches & accompanied viewings

Short & Long Term rental

Home buying Fully serviced

apartments Furniture Supply Home modification

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3. Relocation Essentials!

Settling in Programme / Area Orientation

School Search Visa & residency

administration Language Tuition Cultural and social

Orientation Medical Services Look-see

Programme

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4. Property Management!

Domestic cleaning & maid search

Utility bills payment and administration

Property Maintenance

Connection of services: internet, telephone, gas, water, electricity, cable-TV

Monitoring empty property

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5. Additional Services!

Child carer recruitment

Personal Drivers, Car Hire & activity tours

House & pet-sitting

Locating therapists, hair dressers, tailors, Lawyers, accountants, Notaries, & other professionals

Business start-up & technical recruitment

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6. Romanian tax rules & guidelines Generally, foreign individuals staying in Romania are subject

to Romanian income tax only for income sourced to activities rendered in Romania.The tax rate is a flat rate of 16% for most types of income derived by an individual.Residency

An individual is considered to be a Romanian tax resident if he/she fulfils at least one of the following conditions: •        individual is domiciled in Romania; •         individual’s centre of vital interest is located in Romania; •         individual is present in Romania for a period(s) exceeding 183 days during any 12-month period ending in the respective calendar yearTaxpayers

 Taxpayers of individual income tax can be: •         Romanian individuals domiciled in Romania, for income obtained from any source (both from Romania and abroad);•         residents other than Romanian individuals domiciled in Romania – only for Romanian sourced income; •         non-residents, who either: carry out independent activities through a permanent establishment in Romania, for the net income attributable to the permanent establishment; or carry out dependent activities in Romania, for the net income from such dependent activities.If a non-resident individual complies with the second or the third condition mentioned in the Residence section above for a period of three consecutive years, he/she becomes subject to taxation on worldwide income starting from the fourth year.    

Individuals who are tax residents in countries that have signed Double Tax Treaties with Romania may benefit from a reduced tax rate or a tax exemption under the terms of the respective treaties. Individuals who are tax residents in countries that have not entered into a double tax treaty with Romania are subject to Romanian taxation from the first day of presence in Romania.

Types of taxable individual income The following categories of individual income are subject to taxation under the Romanian tax legislation: •        salary income, income from freelance activities, income from rent, income from real estate transactions, pensions over RON 1,000 per month, income from prizes, income from agricultural activities, income from gambling

Romanian tax rates for individual income •         Salary – includes all benefits received in cash or/and in kind by individuals, based on employment contracts.Salary is taxed at a flat rate of 16%.   Salary income also includes: wage premiums, rewards, temporary disability payments, paid holidays and any other income received by an individual based on an employment agreement. Taxable compensation also includes compensation received by daily or temporary workers, fees and compensation paid to directors and managers of private commercial companies. •         Independent activities – include activities like:freelance activities (Rom. PFA)intellectual property rightscommercial activities, commercial mandates, agreementsIndependent activities are generally taxed at a flat rate of 16%. Freelancers are taxed on their net income which is calculated as gross income minus deductible expenses.  Specific categories of freelancers are taxed on the basis of an income quota which is communicated annually by the Romanian Ministry of Finance. 

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Romanian tax rules & guidelines Specific categories of freelancers are taxed on the basis of an income quota which is communicated annually by the Romanian Ministry of Finance. Intellectual property rightsThe payers of the intellectual property rights have the obligation to calculate & withhold and pay 10% advance tax. Receivers have the obligation to declare the income in their annual tax return, on the basis of which the Romanian tax authority assesses the final amount of the tax due, calculated at a tax rate of 16%. For commercial activities a withholding tax of 10% also applies as advance tax payment. Receivers have the obligation to declare the income on their annual tax return, on the basis of which the Romanian tax authority decides the final amount of tax due, calculated at a rate of 16%. Income from rent   Any rental agreement should be registered with the Romanian tax authorities. The total annual income earned by the owner as stipulated in the rental agreement can be deducted with an expense quota of 25% and should be taxed afterwards with a flat rate of 16%.. This results in an effective tax rate of 12% on rental income. Individuals receiving such income have the obligation to make quarterly tax payments during the fiscal year but there are facilities in place to do this on line.. Income from real estate transactions This type of income is taxed as follows:- for buildings and their related land, as well as land without constructions, owned for up to 3 years: for values less or equal to RON 200,000, the income tax is 3%; for values exceeding RON 200,000 the income tax is RON 6,000 + 2% of the amount exceeding 200,000.

- for buildings and their related land, as well as land without constructions, owned for more than 3 years: for values up to RON 200,000 the income tax is 2%; for values exceeding RON 200,000 the income tax is RON 4,000 + 1% of the amount exceeding RON 200,000.       Income from pensions Pensions are subject to 16% flat tax rate in Romania only for the amount in excess of RON 1,000 per month. Health fund contribution of 5.5% is also due on the same amount, being deductible for Romanian tax calculation purposes.       Income from agricultural activities Such income includes the following:- farming, hosted in greenhouses and/or in irrigated systems, and selling of flowers and vegetables- farming and selling of shrubs, decorative plants and mushrooms- vineyard farming - the sale of unprocessed agricultural products to specialized units Income from agricultural activities is taxed in Romania either on an income quota basis, or based on the single-entry accounting at a flat rate of 16%.         Income from investmentsDividends - are taxed at 16% flat tax rateInterest - is taxed at a 16% flat tax rateCapital gain - is taxed as follows:         - capital gain derived from transfer of shares of unlisted companies and limited liability companies is subject to a tax rate of 16%.

If you have any inquiries regarding taxation please get in touch so we can assist further. [email protected].

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7. PricingWe are considered to be highly price competitive in our field whilst maintaining a high standard of service. A number of companies have formed long term partnerships and contracts with us because of this.

In order to present you an offer price, we ask you to list your requirements in detail by writing to [email protected] would highly recommend Relocation Romania as professional & trustworthy, I am a frequent business visitor to Romania. I now use them for all of my (and my colleagues) short term and long term accommodation requirements and coupled with their extensive knowledge of both the commercial and housing markets will continue to do so" Steve Dew, Intersournce-CEE, Prague/U.K. 2 April 2010

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8. Case StudiesAn Irish Company based in Brasov (with International clients that include Ryanair, Microsoft & Dell Computers), required our services in the following ways & involved some unusual interventions.

• Sourcing of suitable office space• Conversion of office space• Obtaining furniture & fittings for

the team• Assistance with & first point of

contact for technical recruitment

• Finding a suitable accountant firm

• Finding a suitable legal team• Providing staff and management

with accommodation• Organizing area tours for

recreation• Providing Management & Cost

Reduction management support• Providing Taxation expertise &

support in challenging state

We’ve used Relocation Romania many times over the past year. It makes life much easier when you have someone that you can trust that knows the local area like a local.

Some examples of work are:-  fixing up our property after a flood and getting an excellent job done at a very good price.; reducing our company tax liability by 900%, by using the right local professional people that understood the law/ tax laws; in Providing us with transport and advice so that we could explore the local area under our own steam; in recommending ways to reduce costs in our business, from salaries to professional fees; advising us on how to deal with local issues around hiring staff & even short listing technical job applicants. I can’t recommend Relocation Romania highly enough, I feel lucky to have found them. Please feel free to contact me directly if you would like to get recommendations first hand (kierandundonbrasov @eirtight.ie).  

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9. Contact Us

Strada George Baritiu 1aBrasov, 500025

+40 727 606074 or +40 268 [email protected]

Skype: Damian.Galvin

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Strada George Baritiu 1aBrasov, 500025

+40 727 606074 or +40 268 [email protected]

Skype: Damian.Galvin