The number of companies set up by students exceeded 19,000 in January 2016; of these, only 11,949 were in operation, while the rest had been closed down, shows data issued by the National Trade Register Office (ONRC).
Most companies that benefited from the provisions of Government Resolution No. 166/2003 on incentives offered to students are based in Cluj, namely 1,114, followed by Bucharest with 974 and Maramures with 583 companies.
According to ONRC, in January 2016 the number of student-owned companies that were still in operation had decreased 5.86 pct year-on-year.
In order to benefit from the tax incentives offered by the Government’s Resolution No. 166/2003, students setting up a company must be enrolled at a university certified by the Ministry of Education, to have successfully completed the first year of study and to be younger than 30, among other criteria.
These tax incentives are granted once for a single company, to be set up by a student or by a group of students who meet the legal requirements.