Romania’s population was estimated at over 22m in 2009.
Situated in southeast Europe, adjacent to the Balkan countries
of the former Soviet Bloc, the capital city is Bucharest,
with a a population of around 2m.
The transport infrastructure is being improved but still
falls below the standards of other European Union countries.
Only just over 300km of motorways are in use, although there
are plans to modernise and expand the motorway network by
2013. There are rail links to other European countries, including
Ukraine, Hungary, Serbia and Bulgaria. Bucharest’s main
airports are growing and busy.
There were over 5m telephone landlines in Romania (2008),
and almost 25m mobile phones. The growth of broadband, pay-TV
and bundled services have fuelled the rise in the number of
fixed lines. Over 6m people have Internet access and international
services and digital and satellite communications are expanding
rapidly.
If it is planned to live in Romania in the long term, it
is advisable to open a Romanian bank account. ID (passport,
ID card), proof of residence and some other types of documentation
will be required to open an account.
It should be possible to open a bank account either in the
local Romanian currency or in euros. Charges and commission
rates vary considerably.
The National Bank of Romania (BNR) is the central bank of
the country and is responsible for central monetary policy
and banking regulation. It also issues currency. There are
many banks, including a significant number of foreign players
in Romania.
I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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