Corporate Bank Account for Foreign Company in Romania
A foreign company looking to collect payments, pay suppliers or manage transactions connected with Romania may need a suitable corporate banking arrangement. The available options depend on whether the applicant is an overseas legal entity operating directly, a Romanian company with foreign shareholders, or a Romanian branch or representative office of a foreign company.
Opening a corporate bank account for a foreign company in Romania is not automatically guaranteed by having an overseas company registration certificate. Banks assess the applicant's legal status, ownership, authorised representatives, business activities and intended use of the account. UniCredit Romania, for example, publishes separate documentation requirements for non-resident companies, foreign-company branches and representative offices.
Which Banking Structure Should a Foreign Company Consider?
Before applying, identify the legal structure that matches the company's operations.
• Foreign company applying directly: The overseas entity seeks an account without establishing a separate Romanian subsidiary. Acceptance depends on the bank's policies and the company's circumstances.
• Romanian subsidiary: A foreign investor establishes a Romanian company, commonly an SRL, which applies for an account in its own legal name. The subsidiary's documents and ownership details are reviewed by the bank.
• Romanian branch: A foreign company establishes a registered branch where appropriate. The bank may request branch-registration records alongside documents for the parent company.
• Representative office: Where this structure is legally applicable, the bank may request the relevant authorisation and records identifying the foreign parent and its authorised representatives.
These structures are not interchangeable. A Romanian subsidiary is a separate legal entity, while a branch forms part of the foreign company. The correct arrangement should be determined according to the intended business activity and applicable Romanian requirements.
Can a Non-Resident Company Open a Corporate Bank Account in Romania?
A foreign company may apply to a Romanian bank, but eligibility and onboarding arrangements vary by institution. A company should not assume that a non-resident application can be completed online or that every bank accepts an entity with no Romanian establishment.
UniCredit Romania lists a separate process for non-resident companies. Its published documentation includes a recent extract from the public register in the company's home jurisdiction, identifying the company, registered office, legal form, place of registration and legal representatives. It also identifies corporate authorisations and identity documents for persons permitted to operate the account.
Foreign companies should clarify the following with their chosen bank before preparing the application:
• Whether the bank accepts the company's legal form and country of incorporation
• Whether a Romanian subsidiary or registered branch is required for the intended services
• Whether the authorised representative must attend in person
• Whether notarisation, legalisation or certified translation is required
• Which currencies and payment services are available
• Whether the bank needs evidence of business activity connected with Romania
What Documents Are Required?
The document list depends on the applicant's structure and the bank's verification process. A foreign company may be asked to provide:
• Certificate of incorporation or equivalent company-registration evidence
• Recent extract from the public company register in the country of incorporation
• Constitutional documents, such as articles of association
• Registered-office details
• Information identifying directors and legal representatives
• Board or management resolution authorising the account opening
• Names and identification documents of authorised signatories
• Ownership structure and ultimate beneficial-owner information
• Tax-residency details and relevant tax identification numbers
• Description of the company's activities and intended use of the account
• Supporting documents about expected transactions or source of funds, where requested
UniCredit's published requirements for non-resident entities specify a company-register extract generally issued within the preceding 60 days, or alternative corporate documentation identifying the company. The bank may request additional documents if the information supplied is insufficient.
For a Romanian branch, the bank may also request its Romanian registration certificate and supporting documents concerning the parent company and branch authorisation. Requirements should be confirmed for the precise legal structure rather than assumed from a general checklist.
Why Are Translation and Legalisation Important?
Documents issued outside Romania may need to be authenticated and translated before the bank can accept them. The applicable requirements depend on the document, its issuing jurisdiction, the bank and any relevant legal arrangements.
Banca Transilvania states that non-resident applicants who do not qualify for its online business-account process may need company documents that are legalised and translated into Romanian. It also requests additional company-registration information for its branch-based process.
Before ordering translations or notarisation, ask the selected bank to confirm:
• Which documents must be submitted in original form
• Whether certified copies are accepted
• Whether notarisation or legalisation is required
• Whether an apostille or another authentication procedure applies
• Which language or translation certification the bank accepts
• How recently issued company-register extracts must be dated
This preparation can help avoid repeated submissions caused by documents that do not meet the bank's format or validity requirements.
How Does the Corporate Account-Opening Process Work?
The process typically follows these stages.
1. Confirm the banking structure. Decide whether the application will be made by the foreign parent company, a Romanian subsidiary or a registered branch.
2. Check bank eligibility. Discuss the applicant's country of incorporation, ownership, business activity and intended account use with the bank.
3. Prepare corporate documents. Collect registration evidence, constitutional documents, authorisations and information about directors and beneficial owners.
4. Complete identification checks. The bank verifies the company and the individuals authorised to represent or operate the account.
5. Provide business and transaction information. Explain the company's activities, customer and supplier markets, expected payment flows and source of funds where requested.
6. Submit the application. Follow the bank's applicable branch, remote or relationship-manager process.
7. Respond to additional requests. The bank may ask for further records or explanations before deciding whether to establish the relationship.
8. Receive the bank's decision. Account activation takes place only after the bank completes its review and approves the application.
The sequence and onboarding method vary by bank. For example, UniCredit describes a group-based referral process for certain resident and non-resident businesses that may allow qualifying customers to coordinate account opening through a relationship manager in their home country. This should not be interpreted as a universal remote-opening service.
What Should Companies Compare When Choosing a Romanian Bank?
Foreign companies should compare providers based on their operational requirements, not simply the availability of a business account.
• Account currencies: Confirm whether the company can maintain the currencies required for customer receipts and supplier payments.
• International transfers: Review supported payment destinations, transfer methods, processing arrangements and applicable charges.
• Digital banking: Check online access, payment authorisation controls, statements and the ability to manage users.
• Local payments: Determine whether the account supports the company's expected Romanian payment activity.
• Ownership eligibility: Confirm that the bank accepts the company's ownership structure and the countries involved.
• Document requirements: Establish whether the bank needs originals, certified translations or in-person verification.
• Ongoing support: Consider whether the company needs a dedicated banking contact for international transactions or more complex corporate requirements.
Garanti BBVA Romania, for example, lists corporate current accounts in several currencies, including RON, EUR, USD and GBP, as well as other currencies. Availability and terms should be checked against the company's specific requirements.
What Can Delay or Complicate an Application?
A corporate account application may require additional review when:
• The parent company's registration records are outdated
• The ownership chain involves multiple corporate entities
• Beneficial owners cannot be clearly identified
• Corporate resolutions do not clearly authorise account opening
• Company names, addresses or director details differ across documents
• Translations or authentication do not meet the bank's requirements
• The company's business activities or expected transactions are unclear
• The bank requires further evidence of source of funds or business relationships
Foreign companies can prepare for these checks by ensuring that company records are consistent and that the authorised signatory has clear authority to act for the entity.
How Can YKG Global Assist With Romanian Corporate Banking?
YKG Global assists international companies with preparing and coordinating documentation for corporate banking applications.
Support can include:
• Reviewing the company's proposed banking structure
• Preparing a bank-specific documentation checklist
• Coordinating company, director and shareholder information
• Organising beneficial-owner and KYC information
• Helping identify translation and legalisation requirements to confirm with the bank
• Assisting with the preparation of business-activity and transaction explanations
• Coordinating application documentation and follow-up
Bank selection and application preparation do not guarantee approval. The final decision remains with the bank after its eligibility and compliance checks.
Call us or fill out our contact form to schedule a consultation today.
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