Moldova is a small developing economy in the East of Europe. In recent years, the country has made progress in European integration and business deregulation and took 44th place in the Doing Business ranking, ahead of several EU member states Romania, Hungary, and Bulgaria.
In 2017, Moldova’s GDP was 7.3 billion euros and 2062 euros per capita. Moldova experienced robust economic growth, supported by favorable agricultural conditions and strong private consumption.
In terms of manufacturing, growth was mainly driven by retail and wholesale trade (+ 1.3%), growth in agriculture (+ 1%), and industry (+ 0.4%).
The World Bank predicts that growth momentum will continue in 2018 (3.8% growth) and 2019 (3.5% growth), fueled by increased consumption and investment, especially public investment.
The population of Moldova is 2.9 million people.
More than half of the country’s population is rural residents – 59%. The urban area is home to 41%. 62% of citizens live in the north and center of the country. Population distribution by sex: 53% – women, 47% – men.
The cumulative import of confectionery goods to Moldova in 2017 surpassed 21 thousand tons. The leading importer is Ukraine, which imports 66% of confectionery products. In second place is Russia (16%), in third place in Romania (5%).
Civil Code of the Republic of Moldova (06 June 2002), Law of the Republic of Moldova “On state registration of legal entities and individual entrepreneurs” (19 October 2007), Law of the Republic of Moldova “On limited liability companies” (14 June 2007).
Main organizational and legal forms of doing business in Moldova
- Limited Liability Company (SRL).
- Joint Stock Company (S.A).
- Representative office / Branch.
To choose which organizational and legal form of doing business in Moldova suits you best, you can order a legal opinion from us by comparing the pros and cons and tax burdens of a particular organizational and legal form.
Name of LLC in Moldova
To reserve the name of the company, you must contact the registration chamber of Moldova. Before booking, you must select at least five unique names of the future company. Approval, selection, and reservation of the name take about two days.
Minimum authorized capital of LLC in Moldova
The size of the authorized capital is set by the founders independently in the company’s charter. The authorized capital can be paid after registration – the requirement to transfer funds before the registration of the company has been canceled.
Basic company registration services in Moldova:
- Preparation of constituent documents of an LLC;
- Registration of LLC with tax authorities;
- Ordering and receiving the seal of the LLC;
- Registration of LLC data in off-budget funds;
- Opening of current accounts for LLC in Moldova and abroad.
Preliminary information required for registration of LLC in Moldova*:
- Company name;
- Legal address (can be provided by our company);
- Participant data (full name, citizenship, passport / company constituent documents);
- The size of the authorized capital;
- Activities;
- Choosing a bank in Moldova and types of accounts opened in it;
- Choice of taxation system (general, simplified);
- Other documents and information at the request of specialists from ALPS & CHASE. *
* All documents must be provided in advance so that there is time to translate into Moldovan.
All submitted documents must be notarized and legalized at the Russian Embassy of the Member’s (Shareholder’s) country or following the Hague Convention (1961), must be certified by an Apostille issued by the relevant state authorities after notarization.
For participants from the CIS countries (Russia, Belarus, Uzbekistan, Tajikistan, Armenia, Ukraine, Kyrgyzstan, Moldova, Turkmenistan, Azerbaijan, Georgia), apostilization and legalization of documents are not required under the Minsk Convention on Legal Assistance and Legal Relations in Civil, Family and criminal cases (dated January 23, 1993) (attention – depending on the type of legal action, there may be exceptions to the rules of apostilization).
Participants presence during company registration
The presence of the founders when registering a company in Moldova is optional. The main registration actions will be carried out by our specialists based on a power of attorney. The presence of the General Director will be required only when opening bank accounts.
Term of registration of LLC in Moldova
Registration of an LLC with foreign participation takes at least 1-3 working days, as well as registration of a Representative Office or a Branch.
When opening an account, the bank may delay the process of unblocking a permanent account for 3-5 days (due to tax confirmation).
When planning the deadlines for registration be informed that you need deadlines for preparation, translation of documents, and forwarding.
Appointment of the general director in Moldova
You can appoint a Moldovan citizen or a foreign citizen as Director-General. To select a foreign citizen as a director, you must obtain a work permit.
If you do not have time to obtain a work permit or you need the presence of the General Director to resolve administrative issues, then our company provides the service of temporary directors in Moldova. Such directors can carry out various kinds of assignments, communicate with the tax office or banks.
The main requirement when using this kind of service is the full legitimacy of the activities of the Client’s company.
