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How to open a bank account in Romania

Who can open a bank account in Romania?

The question that comes up most frequently regarding bank accounts is do you have to be a Romanian citizen or at least a EU citizen in order to open a bank account in Romania?

The answer is no, there’s no legal condition set by the law in this respect. still, it should be noted that each bank has its own internal regulation, that can make it delicate for non-EU citizens or people from war zones to open a bank account. From our experience, we mention for illustration Iran, Iraq, Russia, Belarus, and Ukraine. Also, utmost banks bear, before opening a bank account for a foreign citizen, their occupancy permit which they gain from IGI( the Immigration Office).

When should these bank accounts be opened?

Natural persons generally need to open a bank account when they admit finances, generally in the form of the hires from their plant. As for companies, the current legislation allows opening a bank account incontinently after all the formalities have been completed with the Trade Registry and the legal reality is fairly set up. There’s no longer a need to open a bank account in Romania as part of the company set up process.

Where should you open your bank accounts?

Our recommendation for foreign citizens is to open a bank account at a bank in Bucharest, especially if they live in this megacity.

The main reason we make this recommendation is that further banks clerks speak English then, rather than in other Romanian metropolises or town lets. When it comes to bank recommendations, our law office works well with ING and BRD. still, we’re sure that you’ll profit from a affable collaboration with other banks, as well, if you pay attention to the vacuity shown by the bank, but also to their assessed freights.

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