The companies they created – Forty Management, Pier Holding, Christian Tour Holding, RMP Investment Holding – are the four largest established in 2020, with a subscribed capital of 100 million to RON450 million, ZF has found from financial analysis platform Confidas data.
“Even though Romania does not have a holding company law yet, there are more and more favorable conditions for establishing such entities, with a beneficial effect for the entire economy,” Dan Badin, tax partner Deloitte Romania, said.
Establishing such companies has become an increasingly visible trend in the business sector in the last few years, and the best known such company is Paval Holding, which brothers Adrian and Dragos Paval, DIY retailer Dedeman owners, set up in 2018. In 2019, Paval Holding had RON6.6 billion share capital and the two have since moved their interests in eight publicly listed companies, among which Cemacon, Purcari, Alro and Electrica to Paval Holding.
“Interest in developing holding companies in jurisdictions other than tax havens has risen in the past few years, partly due to the OECD steps to contain tax avoidance.”
(English version by Loredana Fratila-Cristescu)