Romania Residency by Investment for Non-EU Nationals: An EU Gateway

Overview

Romania is a full member of the European Union and, since 1 January 2025, a full member of the Schengen Area — having first joined the air and sea Schengen zone on 31 March 2024, with full land border accession following on 1 January 2025. This transition significantly enhances Romania's appeal as an EU residency destination: a Romanian residence permit now confers the practical benefit of Schengen Zone freedom of movement.

Romania does not operate a formal "golden visa" programme in the manner of Portugal or Greece — there is no single dedicated investor visa legislation with prescribed investment thresholds published on a government schedule. Instead, the Romanian framework for non-EU investor residency is embedded within the General Law on Foreigners (Government Emergency Ordinance No. 194/2002, as subsequently amended) and the investment facilitation framework administered by the Romanian government. In practical terms, non-EU investors can obtain Romanian long-term residence through business establishment and active investment, structured through incorporated legal entities.

The framework is particularly suited to entrepreneurs, business investors, and executives who have genuine commercial interests in Romania — a rapidly growing EU economy with a population of approximately 19 million, a highly educated English and French-speaking workforce, and a strategic location at the intersection of Central, Eastern, and Southeastern Europe. Bucharest is a regional hub for technology, financial services, manufacturing, and logistics.

As of 2026, Romania's investment residency route is less marketed internationally than those of its EU neighbours but is well established in practice and routinely used by investors from Asia, the Middle East, and the CIS region. Requirements are subject to change; independent legal advice is essential.

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Investment Options

Business Establishment and Active Commercial Investment (EUR 100,000 minimum)

The most commonly used route involves establishing a Romanian company (Societate cu Răspundere Limitată — SRL, the equivalent of a limited liability company) and injecting a minimum of EUR 100,000 in share capital or working capital. The investor must be the majority shareholder or sole shareholder and must demonstrate active business management.

The company must create employment for at least one Romanian national (in addition to the investor-director), though in practice authorities typically look for evidence of genuine economic activity rather than counting employees mechanically. The business must be registered with the Romanian Trade Register and hold all appropriate licences for its commercial activities.

Eligible sectors are broad and include technology, manufacturing, trade, real estate development, consultancy, logistics, and services. Start-up activity in Romania's growing technology ecosystem — Romania has produced several notable technology unicorns — is particularly attractive.

Investment in Existing Romanian Companies

Non-EU investors may alternatively acquire a significant shareholding (generally majority control is advisable for immigration purposes) in an existing Romanian company meeting the economic activity and employment criteria. This avoids the start-up phase and enables immediate operational activity.

Real Estate Investment (as Supporting Evidence)

Whilst direct real estate purchase does not in itself qualify a non-EU national for Romanian long-term residency (there is no stand-alone property purchase route), real estate investment may form part of the broader evidence of economic ties to Romania and financial commitment. Investors who acquire property in Romania frequently combine this with the business investment route for a holistic application.

Senior Executive Assignment

Non-EU executives assigned to manage Romanian subsidiaries or branch offices of foreign companies may also qualify for long-term residency in their capacity as company directors. The sponsoring company must demonstrate economic substance in Romania and compliance with labour registration requirements.

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Benefits

Full Schengen Zone Access

Romania's accession to the Schengen Zone (air and sea borders from March 2024, land borders from January 2025) means that holders of Romanian long-term residence permits can now travel freely within the 29-nation Schengen Area. For investors from visa-obligated third countries, this is a transformative practical benefit.

EU Long-Term Resident Status

After five continuous years of lawful residence in Romania, investors qualify for EU long-term resident status under Directive 2003/109/EC. This status is recognised across the EU, provides enhanced protection from expulsion, and enables holders to move between EU member states for employment, self-employment, and study purposes with greater freedom than ordinary residence permits.

Path to Romanian Citizenship (EU Passport)

Romanian nationality may be obtained after eight years of continuous lawful residence (reduced to five years for family members of Romanian citizens). Romanian citizenship carries an EU passport with visa-free or visa-on-arrival access to approximately 170 countries as of 2026. Romania is an EU member state: its citizens enjoy full EU freedom of movement across all 27 member states.

Low Corporate Tax Environment

Romania offers a micro-enterprise tax regime for companies with annual turnover below EUR 500,000: a flat rate of 3% of revenue (as of 2024–2026 rules, subject to periodic legislative change). Standard corporate income tax is 16%, which is competitive by EU standards. Dividend withholding tax is 8%.

Competitive Personal Income Tax

Personal income tax in Romania is a flat 10% rate — one of the lowest in the EU. Social contributions apply to employment income but can be structured efficiently for investor-directors.

Strategic Geography and Economic Trajectory

Romania is the EU's sixth-largest economy by population and has recorded GDP growth consistently above the EU average over the past decade. It borders Ukraine, Moldova, Hungary, Serbia, Bulgaria, and the Black Sea — a significant logistics and trade hub.

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Eligibility Requirements

Personal Eligibility

• Non-EU, non-EEA, non-Swiss national
• Valid passport (minimum 6 months remaining validity at application; 12 months recommended)
• Clean criminal record (certificate required from home country and all countries of residence in the past five years)
• No current EU entry ban or Schengen area travel restriction
• Proof of accommodation in Romania (rental agreement, property ownership, or hotel)
• Health insurance valid in Romania

Business/Investment Eligibility

• Registered Romanian company (SRL or other appropriate form) with the investor as majority shareholder
• Investment of at least EUR 100,000 in the company (documented via bank transfers into the company account)
• Evidence of genuine commercial activity (business plan, trading history if applicable, contracts, invoices)
• Employment of at least one Romanian national
• Compliance with Romanian company law, tax registration, and social insurance obligations

Financial Self-Sufficiency

Applicants must demonstrate that they have sufficient financial means to support themselves and any accompanying family members without recourse to Romanian social assistance. This typically means demonstrating monthly income or accessible capital above a statutory minimum threshold set by Romanian immigration regulations.

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Application Process

Step 1 — Incorporate the Romanian company. Engage a Romanian lawyer and accountant to incorporate the SRL. Romanian company formation typically takes one to two weeks. The investor must obtain a Romanian Personal Identification Number (CIF/CNP equivalent for foreigners) and open a corporate bank account.

Step 2 — Capitalise the company. Transfer the qualifying investment into the company's Romanian bank account and ensure proper accounting records reflect the capital injection.

Step 3 — Register for tax and social contributions. Ensure the company is registered with the National Agency for Fiscal Administration (ANAF) and the Labour Inspectorate for any employees.

Step 4 — Apply for a Long-Stay Visa (Type D). Apply at the Romanian embassy or consulate in your country of residence for a long-stay visa for business/investment purposes. Required documents typically include passport, criminal record certificate, proof of accommodation in Romania, business registration documents, and evidence of investment.

Step 5 — Enter Romania on the Type D visa and apply for a residence permit. Within 30 days of arrival in Romania, apply to the General Inspectorate for Immigration (Inspectoratul General pentru Imigrări — IGI) for a long-term residence permit. Applications are submitted at the local IGI office in the county of registered residence.

Step 6 — Receive the residence permit. Processing typically takes two to four months. The initial permit is valid for one year and is renewable. After five years of continuous lawful residence, the investor qualifies to apply for EU long-term resident status or permanent residency.

Step 7 — Renew annually. Annual renewal requires updated company accounts, evidence of continued trading, tax compliance certificates, and evidence of maintained investment levels.

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Tax Implications

Romania's tax system is broadly investor-friendly, though the interaction between Romanian tax law and investors' home jurisdiction rules requires careful planning:

Romanian Tax Residency. An individual becomes a Romanian tax resident if they maintain their domicile in Romania, or if they are present in Romania for more than 183 days in any 12-month period beginning or ending in the fiscal year. Romanian tax residents are taxed on worldwide income; non-residents are taxed only on Romanian-source income.

Investors who hold Romanian residence permits but maintain their centre of vital interests elsewhere and spend fewer than 183 days per year in Romania may be able to maintain non-resident status for Romanian tax purposes, meaning only Romanian-source income would be subject to Romanian taxation. This requires careful factual analysis under the applicable double tax treaty.

Key Romanian Tax Rates (as of 2026):

• Personal income tax: 10% flat rate
• Corporate income tax: 16% (or 3% revenue-based micro-enterprise regime for eligible companies)
• Dividend withholding tax: 8%
• VAT: 19% (standard rate)
• Capital gains: generally 10% for individuals
• Inheritance and gift tax: generally low or zero between close family members

Romania has an extensive treaty network covering over 80 countries. Prospective investors should obtain specialist cross-border tax advice to understand the interaction between Romanian law and their home jurisdiction rules before establishing residency.

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How Global Investments Can Help

Global Investments has over 32 years of experience advising internationally mobile clients on cross-border investment, residency planning, and wealth structuring. Romania represents one of the most cost-effective routes to EU residency and Schengen access currently available — a fact that is not yet widely recognised in international investor circles, which means qualified applicants currently face less competition and bureaucratic pressure than in more heavily marketed programmes.

We can assist you to:

• Assess whether Romania's business investment route is aligned with your objectives — comparing it against other EU residency options across Greece, Bulgaria, Hungary, and Portugal based on your capital availability, risk appetite, sector expertise, and family situation
• Identify appropriate business sectors and corporate structures for your Romanian investment, including coordination with Romanian accountants and lawyers to ensure compliance from day one
• Support the visa and residence permit application process through our network of specialist Romanian immigration lawyers
• Review the tax implications of Romanian residency in the context of your existing tax position and advise on optimal structuring in coordination with your current advisers
• Plan the trajectory from initial residence permit to EU long-term resident status and eventual naturalisation, if Romanian citizenship is part of your long-term planning
• Provide broader wealth management support including portfolio management, real estate advisory, and estate planning services appropriate to your evolving European base

Contact Global Investments to discuss your situation in confidence. All information in this guide reflects conditions as understood in 2026 and is subject to change; seek independent legal and tax advice before taking any action.

This guide is provided for information only and does not constitute legal, tax, or investment advice.