Invest in Transylvania
Hello and welcome to Transylvania Beyond's guide to investing in Transylvania. If you're interested in opening a business here or you simply want to learn more about the relocation opportunities, you're in the right place
Romania has one of the lowest tax rates on the continent: the standard corporate tax rate is 16%, about half the tax you would pay in France, Germany or Italy. All companies with less than 100.000 euro revenue per year are subject to an even smaller rate: 1-3%. Fiscal incentives include tax exemption for the reinvested profit. The income tax for IT&C employees is 0%. The tax on dividends is 5%.
Resident individuals are taxed on their worldwide income irrespective of the type or source of income; a flat rate of 16% applies. You will pay about 3x less than in UK, France or Germany.
Find out more about doing business in Cluj, the most important city in Transylvania
More about Cluj: European Youth Capital in 2015, ranked 1st as the city most welcoming to foreigners according to an EU study, the least polluted city in Europe, the most attractive growth pole in Romania, according to KPMG.
Cluj, among the Top 3 fastest growing economies in the EU
Cluj tripled its GDP per capita in the last 13 years. The economy of Cluj is growing 4x faster than the economy of the strongest cities on the continent. Around 20% of the workforce is employed in the creative and innovative industries. About 40% of the population of the metropolitan area are students or have recently graduated. The IT sector grew more than 10x in the last decade.
DOING BUSINESS IN ROMANIA
The website created by the Romanian government for companies that want to invest in Romania. You will find info about the macroeconomy, education, wages, cost of living, tax, infrastructure, doing business, government support, success stories. Romania is among the Top 3 countries with the highest GDP growth in EU, according to Eurostat.
If you make 4500 pounds a month in London, you would need to make 1365 pounds in Romania to maintain the same standard of life
If you open a business in Romania, you should know that overall, the hourly labor costs in Romania are around 5 euro/hour, which is 5x less than the EU average.
Download the official 'Foreign Investor's Guide 2016'
This guide was created by the British Government for British businesses interested in developing their overseas trade and doing business in Romania. The guide contains information about: challenges of doing business in Romania, growth potential of the market, trade between the UK and Romania opportunities in Romania, start-up and market entry considerations, legal considerations, tax and customs considerations, entry requirements, who to contact for more help.
Benefits for UK businesses investing in Romania:
Domestic market of nearly 20 million consumers, English is widely spoken, gateway to markets of the CIS and Balkans, low cost flights between Romania and the UK. The EU has allocated EUR 23 billion to Romania until 2020. The funds will contribute to investments in Romanian infrastructure, human development, regional development. Resulting projects will offer good prospects for UK businesses.
Strengths of the Romanian market include:
Young, skilled and educated workforce, well established support in Romania from foreign lawyers, accountants and consultants, implementation of Single Euro Payments Area (SEPA) standards for euro payments, plentiful natural resources, western business practices
Another excellent source of information in English about investing in Romania comes from the American Chamber of Commerce in Romania. The guide covers general information about Romania, forms of business organization, taxation, banking and finance, general commercial rules, real estate in Romania, EU funding, labour regulations and employment standards, the legal system, protection of intellectual and industrial property, accounting, competition in Romania - main legal issues and environmental protection.
The Romanian tech startups directory: startups, founders, incubators, accelerators, events. Find out what's hot on the Romanian startup scene and connect with relevant startups. It is noteworthy that Liverail, one of the most successful tech startups in Eastern Europe of all times - recently bought by Facebook for $500 mln - was created in Cluj, Transylvania.
Find out here if you need a visa to Romania. A detailed list of countries that need a visa for Romania can be found here. If you're interested in a permanent residence in Romania you can find more information here.
COST OF LIVING
If you relocate from London to Cluj, you'll be paying about 6x less for rent, 6x less for transportation, 4x less for salaries if you're an employer, 3x less for food and yes, 4x less for beer. Brilliant!
CLUJ VS. LONDON / PRICE COMPARISON
Meal, Inexpensive Restaurant (3.70 £ vs. 15.00 £), Meal for 2 People, Mid-range Restaurant, Three-course (15.19 £ vs. 54.00 £), McMeal at McDonalds or Equivalent Combo Meal (3.42 £ vs. 5.00 £), Domestic Beer, 0.5 liter draught (0.95 £ vs. 4.00 £), Imported Beer, 0.33 liter bottle (1.33 £ vs. 4.00 £), Cappuccino, regular (1.09 £ vs. 2.61 £), Coke/Pepsi, 0.33 liter bottle (0.85 £ vs. 1.15 £), Water, 0.33 liter bottle (0.67 £ vs. 0.94 £).
Milk, regular, 1 liter (0.77 £ vs. 0.92 £), Loaf of Fresh White Bread, 500g (0.46 £ vs. 0.99 £), Rice, white, 1kg (0.78 £ vs. 1.46 £), Eggs, 12 (1.35 £ vs. 2.19 £), Local Cheese, 1kg (5.00 £ vs. 5.82 £), Chicken Breasts, Boneless, Skinless, 1kg (3.37 vs. £6.76 £), Beef Round, 1kg, or Equivalent Back Leg Red Meat (5.57 £ vs. 9.13 £), Apples, 1kg (0.64 £ vs. 1.89 £), Banana, 1kg (0.95 £ vs. 1.04 £), Oranges, 1kg (0.81 £ vs. 1.88 £), Tomato, 1kg (0.89 £ vs. 1.92 £), Potato, 1kg (0.38 £ vs. 1.21 £), Onion 1kg (0.41 £ vs. 1.03 £), Lettuce, 1 head (0.50 £ vs. 0.75 £), Water, 1.5 liter bottle (0.47 £ vs. 0.89 £), Bottle of Wine, Mid-Range (3.80 £ vs. 8.00 £), Domestic Beer, 0.5 liter bottle (0.58 £ vs. 1.57 £), Imported Beer, 0.33 liter bottle (0.85 £ vs. 1.76 £), Pack of Cigarettes, Marlboro (2.94 £ vs. 9.00 £).
One-way Ticket, Local Transport (0.38 £ vs. 2.50 £), Monthly Pass, Regular Price (11.39 £ vs. 130.00 £), Taxi Start, Normal Tariff (0.43 £ vs. 3.00 £), Taxi 1km, Normal Tariff (0.43 £ vs. 3.11 £), Taxi 1hour Waiting, Normal Tariff (4.27 £ vs. 47.10 £), Gasoline, 1 liter (0.98 £ vs. 1.11 £), Volkswagen Golf 1.4 90 KW Trendline Or Equivalent New Car (14,053.46 £ vs. 18,000.00 £)
Basic - Electricity, Heating, Water, Garbage - for 85m2 Apartment (80.33 £ vs. 149.84 £), 1 min. of Prepaid Mobile Tariff Local, No Discounts or Plans (0.12 £ vs. 0.16 £), Internet, 10 Mbps, Unlimited Data, Cable/ADSL (5.92 £ vs. 24.19 £)
SPORTS & LEISURE
Fitness Club, Monthly Fee for 1 Adult (21.40 £ vs. 47.80 £), Tennis Court Rent, 1 Hour on Weekend (7.81 £ vs. 11.76 £), Cinema, International Release, 1 Seat (3.80 £ vs. 12.00 £)
CLOTHING AND SHOES
1 Pair of Jeans, Levis 501 Or Similar (36.47 £ vs. 64.26 £), 1 Summer Dress in a Chain Store, Zara, H&M (26.63 £ vs. 32.11 £), 1 Pair of Nike Running Shoes, Mid-Range (51.57 £ vs. 64.61 £), 1 Pair of Men Leather Business Shoes (59.81 £ vs. 76.60 £)
RENT PER MONTH
Apartment, 1 bedroom, in City Centre (251.22 £ vs. 1,674.84 £), Apartment, 1 bedroom, Outside of Centre (181.62 £ vs. 1,164.52 £), Apartment, 3 bedrooms, in City Centre (430.24 £ vs. 3,308.44 £), Apartment, 3 bedrooms, Outside of Centre (303.47 £ vs. 1,926.98 £)
BUY APARTMENT PRICE
Price per Square Meter to Buy Apartment in City Centre (1,122.53 £ vs. 16,953.47 £), Price per Square Meter to Buy Apartment Outside of Centre (868.90 £ vs. 8,077.21 £)
SALARIES AND FINANCING
Average Monthly Disposable Salary, Net After Tax (411.18 £ vs. 2,030.56 £)
Compare other cities here
EXPATS IN Cluj
The largest online community of any city in Romania. Read what the expats in Cluj are saying about their relocation to Transylvania.
A large expat community. you can find useful information about moving to Romania, working and living here, events for expatriates.
Forum for expats living in Romania or people considering a move to Romania.
Life in Cluj, Transylvania, through the eyes of an expat.
Daily news in English about life in Romania: expat life, experiences, voice of the community and financial affairs
Do I need a visa to travel to Romania or move there?
Find out here
YOUR TRIP TO CLUJ
Cluj is big on charm and in no time you'll be infected by it; boulevards, baroque architecture, bohemian cafe society, and back streets animated with bon viveurs and subterranean bars.
If you plan to visit Cluj, this guide will help you find out where to stay, where to eat, places to see
The official tourist guide for Cluj, created by the tourist board of the City of Cluj-Napoca
Cluj is a candidate for the European Capital of Culture 2021
You can book a tour and a local will show you around. It's a non-profit initiative and the best part, it's free!
Getting there and around, tips about restaurants, bars, and accomodation
A list of 25 reasons to visit the city, emphasizing the mysterious, the bohemian, modern and archaic side of Cluj
Reveals the love story between Transylvania and its most famous (unofficial) ambassador, Prince Charles
Talks about the picturesque and unique landscapes of Transylvania, its beautiful citadels and the land history
FLY TO CLUJ
INTERNATIONAL SCHOOLS IN CLUJ
PRIVATE HEALTHCARE IN CLUJ
Private medical services can be 2x-7x cheaper in Cluj compared to the UK
Shopping IN CLUJ
448,820 SQ FT, 200 STORES, HYPERMARKET, 36 RESTAURANTS, CINEMA, SWIMMING POOL, PLAYGROUND
676,880 SQ FT, 200 STORES, HYPERMARKET, 32 RESTAURANTS, CINEMA, FITNESS
It's hard to say what is the #1 reason why you should be relocating to Cluj, Transylvania. But the spectacular outdoors could certainly be the one
13 miles from Cluj
18 miles from Cluj
21 miles from Cluj
37 miles from Cluj
46 miles from Cluj
62 miles from Cluj
Alba Iulia Citadel
65 miles from Cluj
Apuseni Natural Park
REAL ESTATE AGENCIES IN CLUJ
Contact: firstname.lastname@example.org | +40 264 333 777
Contact: email@example.com | +40 752 223 266
Contact: firstname.lastname@example.org | +40 721 290 522
Contact: email@example.com | +40 757 129 791
Contact: firstname.lastname@example.org | +40 786 111 444
CO-WORKING SPACES IN CLUJ
STARTUP & TECH ECOSYSTEM IN CLUJ
Cluj IT is a cluster based organization formed of active organizations in the information technology field: providers of software services and solutions, universities and research institutes, public bodies and other catalyst organizations
Contact Ioan Dragan: email@example.com
Contact Bianca Muntean: firstname.lastname@example.org | +40 742 225 405
Contact Ioan Dragan: email@example.com
Contact Jennifer Austin: firstname.lastname@example.org
Contact forms available on the website
Contact Cristian Dascalu: email@example.com | +40 742180 889
Contact Cristian Dascalu: firstname.lastname@example.org | +40 742180 889
Contact Ciprian Tudor: email@example.com | +40 745 546 088
Contact Olivia Frosin: firstname.lastname@example.org | +40 744 549 898
Contact Cristian Bordei: email@example.com | +40 724 226 593
Contact form available on the website
Contact form available on the website
OTHER USEFUL CONTACTS IN CLUJ
The British Romanian Chamber of Commerce is the premier business-led organisation promoting bilateral trade and investment between the United Kingdom and Romania.
Contact: firstname.lastname@example.org | +40 744 873 340
Contact: email@example.com | +40 264 594 408
The Enterprise Europe Network is the world's largest support network for small and medium sized businesses (SMEs) with international ambitions. It has 3,000 experts across 600 member organisations in more than 60 countries. Member organisations include chambers of commerce and industry, technology centres, and research institutes.
Contact Oana Stanculescu: firstname.lastname@example.org| +40 758 777 154
Are you interested to open a company in Cluj or Transylvania?
Transylvania Beyond built a network of local companies that can help you with company registration, professional accounting services, human resources, business and marketing consultancy and help you connect with relevant business partners in Transylvania
Our colleagues will contact you to schedule a call and discuss your specific needs