Romania has about 116,000 companies recorded at the Finance Ministry which have no employees, according to their statements.

The most profitable company without employees made a profit of EUR 3.9 million last year, according to an analysis by local financial consultancy firm KeysFin.

Most of these firms have their headquarters in apartments or studios. They are active in sectors such as retail (37%), professional and scientific activities (14%), constructions (8%), manufacturing (6%) and transport activities (5%).

Some of the companies don’t carry out a specific activity, but are only built to provide a legal framework for transactions, whereas some only work with collaborators and some hire people without offering them labor contracts, to avoid paying taxes, according to KeysFin.

The companies without employees in Romania posted a cumulated turnover of EUR 8.6 billion last year, which represented 3.6% of the total business in the country.

editor@romania-insider.com