Moldova

Starting a Business in

Moldova

Listed below is a detailed summary of the bureaucratic and legal hurdles an entrepreneur must overcome in order to incorporate and register a new firm, along with their associated time and set-up costs.  It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income (GNI).

The information appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection for the project was completed in June 2011.

  • Standardized Company

  • Legal Form: Limited Liability Company
  • City: Chisinau

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No. Procedure Time to Complete Associated Costs
1 File all the documents with the State Registration Chamber for the registration of the company; obtain IDNO number

Under the Law on the state registration of the legal entities and individual entrepreneurs (No. 220 of 19.10.2007, in force from 30.05.2008) the term for registration of the company is 5 working days. However, an expedited option is available in which company registration can be completed within 24 hours.

Fee schedule for registering companies with the State Registration Chamber under the expeditied procedure:

-State registration: MDL 1000 for expeditied (4 hour) registration;
-Incorporation document preparation (editing) expeditied: MDL 432;
-Name verification: MDL 39;
-Certification of signatures by the State Registrar: MDL 10;
-Publication: MDL 54;
-Extract (for permanent bank account) - expedited - 4 hours: MDL 252;
-Official company stamp: MDL 150;
-License fee (authorization for stamp manufacturing): MDL 9;
-Company name approval: MDL 20;
-Approval of stamp text: MDL 15

In accordance with the Law, the following documents must be submitted to the State Registration Chamber (SRC) in order to register a limited liability company:
a) Filled application form (template provided by the SRC);
b) Decision on incorporation of the company approved by founder/s;
c) Incorporation documents;
d) Document confirming payment of share capital;
e) Document confirming payment of applicable registration fees.

In practice the SRC also requests submittal of documents confirming the legal address of the company. Also as a matter of practice, the SRC drafts the incorporation documents and a founder decision in a special form that is supplementary to the decision provided by the founder.
An unique state identification number is attributed to each legal entity at the date of its registration. It is inserted in the Registration Certificate and in the constitutive act.
1 day MDL 1981
* 2 Open a temporary bank account and deposit at least 40% of the registered capital of the company; pay the registration fee

At registration, at least 40% of each founder’s declared contribution to company capital should be paid in. The other 60% must be paid in within 6 months of registration.
1 day, included in the previous procedure no charge
* 3 Obtain the registration certificate and constitutive act; obtain an official stamp from the Ministry of Information Technologies and Communication; and obtain statistical codes

The company files the bank certificate with the Registrar, confirming the founders’ transfer of their capital contributions into the temporary bank account. While submitting the registration documents, the company submits the company stamp order. After registering the company, the Registrar will issue the stamp along with the registration certificate and other documents. SCR issues the company's statistics codes upon issuing the registration certificate and constitutive acts.
1 day, included in the procedure 1 no additional charge the costs are covered by the charges listed in Procedure 1
4 Register with the Territorial State Fiscal Inspectorate

Newly registered companies should register with the Tax Inspectorate. Only companies that intend to sell VAT-taxable goods and services for an amount exceeding MDL 600,000 during 12 consecutive months must obtain a VAT code by registering with the local fiscal inspectorate.
1-3 days no charge
5 Convert the company’s temporary bank account to a permanent one

To convert the company’s temporary bank account to a permanent account, the founder must present to the bank (a) the notary-certified copies of the certificate of registration; (b) the incorporation documents; (c) the excerpt for the bank, confirming the name and address of the director; (d) the notarized signature cards; and (e) the company seal.

Fee schedule for notary certification:
Set of documents: MDL 180 (based on MDL 6 per page).
1 day no charge
6 Register the company with the Social Security Fund

Every company should receive an individual social security number for each employee. The Law of the Republic of Moldova No. 383-XV (of November 11, 2004), "On the State Social Security Budget 2005," states that the company must complete a questionnaire for each employee and to present it, along with the copy of the employee’s passport, to the National Social Security Fund within 10 days of registration or the signing of the labor contract. Later, the company should present the report every 3 months to the National Social Security Fund.
1 day no charge
7 Register the company with the National Medical Insurance Company

After registering with the State Registration Chamber, the company must register with the local office of National Medical Insurance Company in 10 days. The medical insurance agreement must be concluded. The company must present, every 3 months, 10 days before the end of the current month, the report on the calculation and the transfer of compulsory insurance payments.
2 days no charge
* Takes place simultaneously with another procedure.
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