Starting a business in Moldova requires the right licenses and authorizations. Knowing what you need and how to get it will help you set up and run your business smoothly. This guide explains the basics of business licensing and authorizations in Moldova, including which government agencies issue them, the types available, and the steps to get them. Additionally, we offer services to assist with all aspects of business licensing in Moldova, ensuring you comply with all legal requirements.
Who Issues Business Licenses and Authorizations in Moldova?
In Moldova, different government agencies are responsible for issuing licenses and authorizations depending on your business type. Here are some of the key agencies:
- Ministry of Economy and Infrastructure: Handles licenses and authorizations for trade, industry, and various economic activities.
- National Bank of Moldova: Issues licenses for banking and financial services.
- National Commission for Financial Markets: Manages licenses and authorizations for insurance and capital markets.
- Public Services Agency: Provides a wide range of licenses and authorizations, including those for trade and personal services.
- National Food Safety Agency: Responsible for licenses and authorizations related to food safety, agriculture, and veterinary services.
- Ministry of Health: Grants licenses and authorizations for medical and pharmaceutical businesses.
Types of Business Licenses and Authorizations in Moldova
Your business might need different types of licenses and authorizations based on its nature:
- Licenses: Required for activities that need strict regulation, like banking, insurance, telecommunications, and energy production.
- Authorizations: Necessary for specific activities that may have safety or environmental impacts, such as construction, environmental management, or health services.
- Certificates: Used to prove that your business meets certain standards or qualifications, often necessary for technical fields or exporting goods.
Steps to Get a Business License or Authorization
Here’s how to apply for a business license or authorization in Moldova:
- Submit an Application: Start by submitting a formal application to the relevant agency. This is usually done through the SIA GEAP system (Automated Information System for Permit Management and Issuance).
- Provide Required Documents: Your application should include all the necessary documents, such as business registration, proof of qualifications, and any other required paperwork.
- Review Process: The agency will review your application and documents. They may coordinate with other government bodies to ensure everything is in order.
- License or Authorization Issuance: If approved, the license or authorization is usually issued within 10 working days. Most are issued electronically for quick access.
- Stay Compliant: Once you have your license or authorization, make sure you follow all relevant rules. Renewals are often required, so keep track of deadlines and any legal changes.
Specific Business Licenses and Authorizations Incorpore can help you with
If you’re starting a business in Moldova, we can assist you with obtaining the following licenses and authorizations:
– Precious Metals and Pawn Shops: Licensing for businesses dealing with precious metals, stones, or running pawn shops.
– Alcohol and Tobacco Licenses:
– For importing and storing ethyl alcohol, and selling alcoholic products or beer.
– For manufacturing alcohol, beer, and tobacco products, and selling them wholesale.
– Recycling and Waste Management: License and authorization for handling collection, storage, processing, and export of metal waste and used batteries.
– Firearms and Explosives:
– License and authorization for making, selling, or importing/exporting firearms and ammunition.
– For producing, storing, or using explosives, including pyrotechnics.
– Duty-Free and Customs Operations:
– License and authorization for operating duty-free shops in airports, ports, or on ships.
– For working as a customs broker.
– Information Security: License and authorization for businesses that protect information, including importing/exporting cryptographic tools.
– Casinos and Gambling: License and authorization for running casino activities.
– Employment and Educational Exchange: License and authorization for businesses involved in employment placement and cultural exchange programs.
– Food and Pharmaceutical Industry: License and authorization for pharmaceutical activities.
– Financial and Banking Services:
– For running a bank or offering cash foreign exchange services.
– For providing payment services and issuing electronic money.
– Insurance and Financial Markets:
– License and authorization for working in insurance, managing pension funds, and operating in the capital markets.
– Energy and Fuel:
– License and authorization for importing, trading, and producing fuel and electricity.
– For providing water, sewage, and thermal energy services.
– Communications and Broadcasting:
– License and authorization for using radio frequencies and running communication networks.
– For broadcasting services.
Case Study: Licensing for Remittance Services in Moldova
If you’re planning to offer remittance services in Moldova, you’ll need to establish a payment service company. Here’s what you need to know:
- Company Formation: You must first create a Limited Liability Company (LLC) with a minimum capital of 350,000 MDL.
- Obtaining a License: The National Bank of Moldova (BNM) issues the necessary license. The application must include:
– A notarized copy of the company’s founding documents.
– Identification data as per BNM regulations.
– Proof of capital as per Article 12, with bank confirmation for provisional bank account deposits.
– A detailed description of your planned activities and business operations.
– A business plan showing your ability to operate effectively, including a budget for the first three years.
– Internal procedures for risk management, control mechanisms, and compliance with anti-money laundering laws.
– Information on organizational structure, branches, and payment agents.
- Approval Timeline: The BNM reviews the application within 60 days and issues the license within three days after the fee of 8,000 MDL is paid.
We assist businesses in navigating this complex process, ensuring that all requirements are met, and providing ongoing support to maintain compliance.
Why Choose Incorpore for Business Licensing in Moldova?
We offer comprehensive services to help you with all aspects of business licensing in Moldova. From preparing your application to securing the necessary licenses and authorizations, our team of experts is here to guide you through every step. Whether you’re setting up a new business or expanding an existing one, we ensure you meet all legal requirements quickly and efficiently.
Getting the right licenses and authorizations is a key part of starting a business in Moldova. Different government agencies handle different types of licenses and authorizations, and there are clear steps to follow. By understanding what you need and staying compliant, you can run your business smoothly. If you need help with the licensing or authorization process, or want to know more about setting up a business in Moldova, feel free to contact us. We’re here to assist you every step of the way.
