Romania joined the European Union in 2007 and joined the Schengen Area in full (air, sea, and land borders) in January 2025 — a significant milestone after years of negotiations. It is the EU's sixth-largest country by population (approximately 19 million) and has maintained consistent GDP growth, establishing itself as an increasingly attractive destination for technology companies and business investment.
Romania does not operate a traditional golden visa programme in the mould of Portugal, Greece, or Spain. However, it does provide residency rights for investors and entrepreneurs who establish or invest in qualifying Romanian businesses. For internationally mobile individuals seeking EU access at a lower capital threshold than western European alternatives, Romania merits serious consideration.
Compliance notice: Romania's immigration law, investment criteria, and programme requirements are subject to change. All figures and conditions reflect publicly available information as of mid-2026. Verify current requirements with the Romanian Immigration Inspectorate (Inspectoratul General pentru Imigrări) and a qualified Romanian immigration lawyer before proceeding.
Romania's EU and Schengen Status
Romania is a full EU member, meaning Romanian residents enjoy freedom of movement across all 27 EU member states. Since joining the Schengen Area fully in January 2025, Romanian residents also enjoy passport-free travel across the Schengen zone. A Romanian residency card or citizenship therefore provides the full suite of EU and Schengen mobility rights.
Romanian passport strength: Visa-free or visa-on-arrival access to approximately 174 destinations — respectable, though slightly below the most powerful EU passports. Naturalisation requires eight years of legal residence (reduced to five years for those married to Romanian citizens) and a Romanian language assessment.
Investor Residency Routes
Romania's investment-linked residency is governed by the law on the regime of foreigners in Romania (Government Emergency Ordinance No. 194/2002, as subsequently amended — verify the current legislative framework). The primary routes for non-EU investors are as follows.
1. Business Investment Route
Non-EU nationals who invest in a Romanian company can obtain a temporary residence permit for commercial activity. The general framework requires:
- Minimum share capital contribution: historically RON 45,000 (approximately €9,000) in a limited liability company (SRL), though a higher demonstrated investment amount strengthens the application significantly.
- The company must be operational, generating revenue or demonstrably active.
- The applicant must be a registered director or significant shareholder.
- Sufficient financial means for the duration of the residence permit.
- Health insurance.
Important: Romanian immigration authorities assess applications on a substance basis. A nominal investment in a shell company is unlikely to succeed. Genuine commercial activity and employment creation are looked upon favourably.
2. Highly Skilled Worker Route (EU Blue Card)
For executives, senior managers, and specialist professionals employed by Romanian companies — including senior roles in foreign-owned Romanian subsidiaries — the EU Blue Card provides a route to residence. Requirements include a job offer meeting a minimum salary threshold (approximately 1.5 times the average gross Romanian salary — around RON 12,000–15,000/month as of 2026) and recognised professional qualifications.
3. Intra-Company Transferee
For those employed by a multinational group, a posting to a Romanian group entity qualifies for an Intra-Company Transferee residence permit. This requires at least six months' prior employment with the group and a secondment agreement.
Romania's Business and Investment Environment
Technology sector
Romania has developed one of Europe's strongest technology sectors relative to its economic size. Key metrics:
- Romania has the EU's highest average broadband speed (consistently top 10 globally).
- Bucharest and Cluj-Napoca are established technology hubs, home to engineering centres for large technology companies including Oracle, IBM, Amazon, UiPath (Romania's first tech unicorn, now NYSE-listed), and dozens of regional software firms.
- Significant IT outsourcing and software development industry, competing effectively with India and other offshore destinations on quality and timezone advantage.
Investment incentives
Romania offers several incentives for qualifying businesses:
- IT sector tax exemption: Income tax exemption for IT programmers working in qualifying software roles (a significant talent attraction tool — programmers pay 0% personal income tax on qualifying income up to a capped threshold).
- Research and Development deductions: Enhanced tax deductions for R&D expenditure.
- Free Economic Zones: Several SEZs offer additional corporate tax and customs incentives for qualifying industrial and logistics investments.
Real estate
Bucharest's prime residential and commercial property market has been among the faster-growing in the EU over the past decade:
- Prime residential: €2,000–€4,500/sqm in central Bucharest.
- Cluj-Napoca: comparable prices driven by the technology sector.
- Coastal property (Black Sea coast, Mamaia, Constanța): €1,000–€2,500/sqm.
- Mountain properties (Poiana Brasov, Sinaia): growing interest for ski and leisure.
Property purchase by non-EU citizens: non-EU citizens face restrictions on buying Romanian land directly; property ownership through a Romanian company is the standard structure. EU citizens face no such restriction. Investors from outside the EU should take specific legal advice on the acquisition structure.
Taxation in Romania
Romania maintains a flat-rate personal income tax system, which is comparatively simple and internationally competitive.
- Personal income tax: 10% flat rate on most income types (wages, dividends, rental income, capital gains from securities).
- Dividend tax: 8% (reduced from 10% for most categories — verify current rate).
- Corporate income tax: 16% standard; micro-enterprise tax (turnover below €500,000): 1% or 3% depending on employment (verify current thresholds as these change frequently).
- Capital gains tax on real estate: 10% of net gain.
- Wealth tax: None.
- Inheritance tax: None (notary fees and transfer costs apply).
- VAT: 19% standard rate; reduced rates apply to some categories.
- Social contributions: Employer: approximately 2.25% (pension, health); Employee: approximately 35% all-in (significant — affects salary cost modelling).
Tax residency arises on 183+ days in Romania per year, or by having the centre of vital interests in Romania.
Romania has an extensive DTA network, covering the UK, Germany, France, the US, UAE, and most major economies.
Living in Romania
Bucharest
The capital and by far the largest city, with approximately 2 million in the metropolitan area. Bucharest is a city of contrasts: grand Belle Époque architecture alongside communist-era apartment blocks and a growing modern business district. It has a thriving restaurant and nightlife culture, a low cost of living by western standards, and strong international connectivity.
- Average rent, 2-bed central apartment: approximately €700–€1,200/month.
- International schools: American International School of Bucharest, International British School of Bucharest, and others offering IB and Cambridge curricula.
- Healthcare: private hospital networks (MedLife, Regina Maria, Medicover) operate to good international standards.
Cluj-Napoca
Romania's second technology hub, home to a major university and a strong startup and engineering culture. Smaller, younger, and growing faster than Bucharest. The TechAngels and Cluj community fund networks support early-stage ventures.
Transport
Bucharest Henri Coandă International Airport (OTP) serves direct routes to London, Paris, Frankfurt, Amsterdam, Istanbul, Dubai, and most major EU capitals. High-speed rail development is underway but Romanian rail remains slow by western European standards.
Pathway to Permanent Residence and Citizenship
- Temporary residence: Initially one to three years; renewable.
- Permanent residence: Available after five years of continuous legal residence.
- Romanian citizenship: Available after eight years of legal residence (five if married to a Romanian citizen); Romanian language test; basic knowledge of Romanian culture and constitution; clean criminal record.
Romania does not have a straightforward policy on dual citizenship. In practice, Romanian law permits dual citizenship in some circumstances, but naturalised citizens are generally expected to renounce prior citizenship. This is a point on which qualified legal advice is essential — the practical enforcement of renunciation requirements varies.
Schengen Entry (January 2025 Significance)
Romania's full Schengen accession in January 2025 was meaningful for investors. Previously, Romanian residents still needed to pass separate passport controls at land borders to enter the wider Schengen zone. Now, Romanian residency card holders can move seamlessly by land, sea, and air across all 27 Schengen countries. This materially improves Romania's position. Bulgaria completed its own full Schengen accession (including land borders) on the same date, 1 January 2025.
Who This Programme Suits
Romania's investor residency works best for:
- Entrepreneurs and active investors who want EU residency at a significantly lower capital commitment than Portugal, Greece, or Malta require.
- Technology sector professionals and investors drawn by Romania's deep engineering talent pool and established tech ecosystem.
- Cost-arbitrage investors seeking EU business operations with lower wage costs than western European alternatives.
- Real estate investors exploring a growing EU market with relatively low entry prices and strong yield potential.
It is not suitable for those seeking a passive investment route with no operational involvement, or those primarily motivated by a prestigious address or a favourable personal tax rate (Romania's taxation is moderate, not zero).
How Global Investments Can Help
Global Investments advises internationally mobile clients across a range of EU entry strategies. Romania's combination of EU and Schengen membership, a low personal tax rate, and an accessible business investment route makes it a compelling option for the right investor profile.
We can assist with:
- Investment structure assessment: Advising on the most appropriate Romanian business vehicle (SRL, SA, branch office) for your residency and commercial objectives.
- Legal referrals: Connecting you with qualified Romanian immigration lawyers and corporate advisers.
- Tax planning: Coordinating Romanian tax advice with your home-jurisdiction adviser and relevant DTA analysis.
- Real estate assessment: Independent review of Bucharest or Cluj investment property opportunities and acquisition structures for non-EU investors.
- Broader EU strategy: Romania within a wider multi-country residency and mobility plan.
Investment thresholds, rules, and timelines change frequently — verify current requirements before proceeding and seek professional legal advice. Global Investments provides strategic guidance alongside, not as a substitute for, qualified legal and tax counsel in Romania.
Contact Global Investments to discuss whether Romania suits your EU access and investment strategy.
This guide is for general information only and does not constitute legal, financial or immigration advice. Programme details, investment thresholds, and eligibility requirements change; always verify current requirements with a qualified immigration lawyer and financial adviser before making any investment or application. Investment values can fall as well as rise.