Gociu Lawyers has conducted an independent regional study of all 223 companies headquartered in Timiș, Arad and Caraș-Severin that reported 2025 turnover of at least RON 100 million. The three counties account for 6.6% of the 3,382 Romanian companies identified nationwide under the same criteria.
The study found that 76 companies — 34.1% — are exclusively and directly owned by individuals, while 98 companies — 43.9% — have multiple direct shareholders. A total of 139 companies have at least one private corporate shareholder, but only 35 have a direct shareholder whose name expressly includes ‘Holding’ or ‘Holdings’. This figure is a verifiable minimum, not an exhaustive count of holding structures.
ADRIAN GOCIU, MANAGING PARTNER, GOCIU LAWYERS
Businesses may grow faster than their ownership architecture. Once a company exceeds RON 100 million in turnover, the question is no longer merely who holds the shares, but whether the structure supports capital reinvestment, asset protection, continuity of control, investor readiness and succession planning.
Timiș accounts for 140 companies, followed by Arad with 73 and Caraș-Severin with ten. Timiș has the strongest corporate ownership profile, while Arad presents the closest balance between corporate and direct individual ownership. In Caraș-Severin, seven of the ten companies are directly owned exclusively by individuals.
Direct individual ownership is not inherently a vulnerability. At this scale, ownership architecture nevertheless becomes a strategic issue for governance, succession and investor readiness.
The study uses publicly available 2025 financial statements and analyses the first displayed tier of direct shareholders as at 3 August 2026. It does not verify ultimate beneficial ownership.
Gociu Lawyers
Gociu Lawyers is a Romanian business law firm with offices in Bucharest, Timișoara and Dubai. The firm advises entrepreneurs, investors and corporate groups on corporate law, taxation and intellectual property, including holding structures, reorganisations, governance, succession and transactions. Please visit www.gociu.law to learn more.
