It is required that foreigners, before making the trip, contact the office of the Ministry of Internal Affairs in the area in which they plan to reside to make sure they will be able to get the temporary residence permit. Romania offers citizenship and residency to foreign investors who commit to invest in Romanian businesses and job creation. The long term residence right granted to holders of EU Blue Card who had a right of continuous residence on the territory of the Member States of the European Union, the European Economic Area or of the Swiss Confederation in the past 5 years preceding the application, as holders of EU Blue Card, in case that for 2 out of the 5 years they had the right of continuous residence in the 2 years preceding the date of the application, as holder of the EU Blue Card, in Romania, is obtained provided the following requirements are cumulatively fulfilled: If you need clarification on any of the aforementioned points, our team of attorneys in Romania can assist. All foreign nationals need to apply for a temporary residence permit if they plan to stay in Romania for 120 days or more. pension-€12,000. After 5 years of uninterrupted living. Investment for Residency and Citizenship. You can also get residency by investing a similar amount in a Latvian business or a local bank. Our business model of online platform makes it cheaper and faster for clients as we directly with authorized agents, law firms and property developers approved by Governments without any intermediaries. Serving HNW clients since 2011. The foreigners who prove to have made investments of minimum EUR 1.000.000 or have created over 100 full time places of work, may receive the long term residence permit if they fulfill the last 4 conditions mentioned above. Each residency by investment scheme offers different investment options and the required investment amount varies for each program. Investment name. Yes, the long term residence right shall cease in one of the following cases described below by our lawyers in Romania: If you are interested in more details about these special situations, please reach out to our Romanian lawyers. Residence Permit for Investment Activity (ARI / Golden Visa) Temporary residency. If you want to become a resident of Latvia, then you can invest €500,000 in property, pay roughly €25,000 in processing fees, and fill out a couple of forms to get your five-year residence permit. Today we received our passports, a happy day. As of 2019, Romanian citizens had visa-free or visa on arrival access to 169 countries and territories including Canada, United Kingdom but visa required to visit US. The duration of residence permit is usually two or three years which can can be prolonged. Note: The above information were compiled from EU commission report fact finding study on investor residence and citizenship schemes available in Romania. – Adewale, Nigeria, Romania Residence and Citizenship by Investment, First version of Malta IIP expires in September, How to get Ireland Permanent Residency for €400K, St Kitts is the Rolls Royce of Citizenship by Investment. Renting an office for a company in Bucharest, What conditions do you have to meet to set up a SRL-D (debut, Updating company identification data to ONRC, The procedure for obtaining the European Ecolabel, A1 Form For Hiring Foreign Citizens – How To Obtain It, Fast procedure for small debt recovery in Romania. Best Citizenships (BC) is a global brand for citizenship and residence planning for wealthy HNW clients. EU/EEA and Swiss citizens have it much easier when it comes to getting a Romania residence permit. Visa type. For example, one can acquire a residence permit by owning a company in the country. Residence permit programs … Enquiry Factsheet. Swedish Citizenship. Why is the Notice necessary before litigation? The long-stay residence permit in Romania, Our Law Firm offers juridical representation and consulting regarding, Lawyers: Driving under influence in Romania (DUI), How to obtain a construction permit in Romania, Registration in Intra-Community Operators Register, Differences between Branches and Subsidiaries in Romania, Open a non-banking financial institution Romania, Non-governmental organizations in Romania. This timeframe can be reduced to half of its duration if the applicant invested at least EUR 1,000,000 in Romania – four years or two and a half years if the foreigner is married to a Romanian citizen. The second stage is the citizenship application. The refusal to grant long-term residence rights can be appealed within 30 days from the communication to the Court of Appeal. Temporary Residence Permit. Temporary residence permit is normally granted for one or two years, subject to renewal either annually or every two years. Proof of investment can be made with certificates issued by the Trade Registry, certificates from the tax authorities and financial evaluation reports prepared by certified accountants. While residence and citizenship by investment (CBI/RBI) schemes allow individuals to obtain citizenship or residence rights through local investments or against a flat fee for perfectly legitimate reasons, they can also be potentially misused to hide their assets offshore by escaping reporting under the OECD/G20 Common Reporting Standard (CRS). Investors who wish to become Romanian citizens have to go through the general naturalisation process. Invest for residency in europe. The applicant has public health insurance; The applicant has his/her place of residence in Romania; Satisfactory knowledge of the Romanian language, Not a threat to national security or public order. : The Romanian passport is 18th powerful EU passport in the world. Minimum investment. ; Incentives for investment in certain sectors (production, logistics, service centres, R&D, tourism, film production, sports, etc. 31/1990 regarding the, Protecting children from the perspective of human rights, cr, Minimum fees recommended for lawyers 2021, The U.S. Embassy Bucharest Attorney List. If the applicant spends more than six months in a year abroad, that entire year is disregarded for the purposes of the citizenship application. For example, in UK the investment in about 1 million pounds, while in Romania you need to invest at least 100.000 euro in order to be granted the investor visa. Temporary residency. EUR 100,000 and creation of at least 10 new jobs in the case of a limited liability company; EUR 150,000 and at least 15 new jobs in the case of a joint-stock company. Business Immigration To Romania. The refusal as well as the reasons for its formulation, will be communicated in writing to the applicant within 15 days of the resolution. Crimes and offenses free trade areas Romania, The European Arrest Warrant (EAW) in Romania, The modification of matrimonial regime in Romania, Termination of parental rights in Romania, The substantive conditions of adoption in Romania, The review of civil judgements in Romania, The confession in the Romanian civil proceedings. Legal fee: 30,000 EUR (breakdown of costs below) There are 6 steps to obtain a residence permit based on the business: 1.Drafting a business plan (We have several business ideas and investment opportunities for Germany) 2. Romanian citizenship can be granted to those foreigners who have had their main residence in Romania for the past eight years (or five years, if the foreigner was married and cohabited with a Romanian citizen). ▪ you can prove that you dispose of the necessary means of subsistence reaching the level of the national minimum net salary, except for the foreigners who are family members of Romanian citizens; ▪ you prove to have a social health insurance; ▪ you prove to legally hold a housing space. These programmes are especially popular with investors not wishing to emigrate and move their family but require flexibility should the need ever reside. No special rules pertaining to the granting of citizenship on the basis of a residence permit obtained by an investor. Permanent residency. However, in establishing this period, there will not be taken into account the right of residence offered by a short-stay visa, diplomatic visa or work visa, nor the residence right obtained for carrying out activities as seasonal workers. Processing time. Also, if you have been recognized as a refugee or have been granted subsidiary protection in Romania, and you are married for at least 5 years with a Romanian citizen, this period will be reduced by half. In addition, children over 18 years old and parents of the main applicant can be added into the application without additional investment. 6. person of independent means. If the request is approved, within 30 days from receiving the notification you must submit the following documents attached to the application for issuing the long-term residence permit: • documents regarding the border crossing; • justifying documents regarding the housing space; • access on the labor market, without work permit, based on an individual labor contract approved by the Labour Inspectorate; • access to all forms and levels of education and professional training including to granting of scholarships, validation of studies and recognition of diplomas , certificates, competence attestations and professional qualifications; • social security, social assistance and protection; • tax deductions on global income and tax exemptions; • access to public goods and services including obtaining of dwellings; • freedom to enter into associations, for affiliation and belonging to an union or professional organization. Aside from the condition of residence, the foreigners who apply for Romanian citizenship need to also fulfil certain additional criteria: There are tax incentives in place that benefit all investors, foreign or Romanian, including e.g. The Golden Visa gives you the option to obtain a higher-ranking second passport, but usually at a bigger cost. Temporary Residence Permit. This could be useful if one wants to develop a business in Romania or any of the European Union countries. A residence by investment program is another way of obtaining temporary and permanent residence when you are required to invest in a country of your future residence. business activity according to §21 „residence permit to start up a business or investment Our platform is free to use and we do not charge any fee to clients. We asked for the cheapest family passport, they went as far as providing us a discount” – Muhamed, UAE. Our lawyers in Romania can provide legal assistance for this step. The Bulgarian citizenship by investment program is a two-stage procedure: The first stage is a permanent residency card application, subject to an investment of minimum 512,000 euros. Latvia — To obtain a Latvian temporary residence permit, one has to buy real estate worth €250,000 and pay a 5% government fee. • in case of a long-term residence permit obtained in another State; • during the absence from the Romanian territory for a period exceeding 12 consecutive months, unless within that period you have benefited from a temporary right to stay in a Member State of the European Union; • in case of absence from the Romanian territory for a period of more than 6 consecutive years, even though during this period you were the beneficiary of a right of temporary residence in a member state of the European Union; • by acquiring Romanian citizenship or in case of absence from the territory of the Member States of the European Union, the European Economic Area or of the Swiss Confederation for more than 2 consecutive years by the person whom has a long term residence right, owner of a long term residence permit with the mention "Former EU Blue Card holder", or members of his family who have been granted the long-term resident status. Residence permit for entrepreneurs in order to practice a self-employed. The permit can be changed to permanent residency permit after the five-year period of residence. 6. If you are from the EU/EEA or Switzerland, you do not have to actually apply for a residence permit, as non-EU/EEA/Swiss nationals do. 5. 48%. Investment. unrestricted. A citizen of any country can become a participant in the governmental program and obtain Romanian citizenship by investments. Application for the granting or renewal of a residence permit for family members of citizens of non EU / EEA will be settled within 30 days from the date of its submission. 5. Highly recommended people”. Permanent. Tax credit of up to 80% of the corporate tax due, for up to 10 years, for investments exceeding approx. ▪ in the said period they were not absent from the Member States of the European Union, the European Economic Area or of the Swiss Confederation for a period exceeding 12 consecutive months and the period of absence does not exceed 18 months in total; ▪ during this period of time, no measure of removal from Member States of the European Union, the European Economic Area or of the Swiss Confederation was disposed against the foreigner in question; ▪ they present proof of disposing of the necessary means of support to the minimum gross salary guaranteed in payment, except for foreigners who are members of Romanian citizens; ▪ they prove to have a social health insurance; ▪ they prove to legally hold a housing space. Granted after 5 years of living holding PR status. In exchange for a property investment of $595,000 (£448k), non-EU citizens are offered a residency permit and the opportunity to live and work in the EU. SERVICE AREAS. European But Not EU Member States’ Residency by Investment Programs Special assistance for investors is available at our Romanian law firm. Things are a bit more complicated if you are a non-EU citizen who wants to stay in Romania for more than 90 days. Puerto Rico. Romania is a EU member state, but currently in the process of joining schengen area. The Malaysia My Second Home Program, started in 2002, allows foreign nationals who fulfill certain criteria to stay in Malaysia on a multiple-entry social visit pass. After 10 years of legal residence, and in certain circumstances after six years, it is possible to apply for Austrian citizenship. The minors whose parents hold a long term residence may receive the same statute, without fulfilling the condition regarding the continuous residence in Romania in the last 5 years preceding the application; in case only one of the parents holds a long term residence, the consent of the other parent is needed in authentic form. The implementation of direct investments for the purpose of obtaining a passport goes through a specialized company approved by the Government of Romania. A residence permit in Romania is possible to acquire in several ways. In addition they must meet the following. You can do this through an initiative called residency-by-investment, also popularly referred to as the Golden Visa Program. EUR 330,000, subject to EU state aid legislation. Best Citizenships is now a part of Yellow network, “Very honest and professional service. The long-term residence permit is granted for a period of 10 years in case you are a family member of a Romanian citizen or a period of 5 years if the purpose of your stay falls under those provided by law. 48%. 4. ▪ they do not represent a threat for the public order or national security. 208, District 3, 030828, Bucharest. €100,000 (no limits) Qualifying investments. (b) has personally the full ownership, possession and peaceful enjoyment of real estate property in Greece. 1. The conditions that must be met for granting the right of long term residence in Romania are: In establishing the continuous and legal stay period, half the length of residence for study purposes is taken into consideration. We are happy to hear you want to permanently move to our country. The residence permit as a family member of a Romanian citizen must be renewed at least 30 days before the expiry of the previous one. Romania Residence and Citizenship by Investment November 25, 2019 Romania offers citizenship and residency to foreign investors who commit to invest in Romanian businesses and job creation. If you need a reliable team of lawyers in Romania to help you in this matter, do not hesitate to contact our team. The authorized agent provides the investor with advice on the most favorable investment activities, with due regard … To qualify for a one year residence permit, applicants must invest in a company or which (s)he has received endorsement of the Romanian Centre for Trade Promotion and Foreign Investments and provide proof of legal ownership over the space for the office and the dwelling space. Residency by Investment Programs allow permanent and temporary residence permits for a certain amount of investment. 50% additional corporate tax deduction for eligible expenditure related to R&D activities; Corporate tax exemption for the first 10 years of activity for taxpayers carrying out exclusively innovation, research and development activitypix. Romanian Residence Program . Residence permit document in Romania. A Romania residence permit application is processed within 30 days after you submit all of the required documents. 61 Unirii Boulevard, Bl. We initially struggled arranging documents and paperwork, but the company was assisting us in every step. Our team of Romanian lawyers can provide more details about these conditions. There are several residency by investment programmes in Europe that grant residency, often through real estate investment but without the requirement to reside. This type of visa is granted, on the grounds of the prior endorsement of the Romanian Center for the Promotion of Foreign Investments, to third-country nationals who are or will become shareholders or associates, in management and administration positions, within companies which have legal personality in Romania. The main thing that makes getting a residency permit more difficult for an US, Canadian or any other non-EU citizen is the fact that self-sufficiency is not acceptable. All Rights Reserved. How to get your residence permit if you are a non-EU citizen. If you are an EU/EEA/Swiss citizen. To receive temporary residency in Romania, foreigners must invest, Foreign nationals who invested an investment of EUR 1,000,000 EUR or 100 new jobs, the conditions of continuous residence of five years and personal financial means equal to the minimum wage are waived. Can you help me host my headquarters in Romania? There is a reduced minimum investment of €350,000 for those who … Residency in Romania is approved by the head of the Office for Immigration. entrepreneurship--48%. Business visa / long term residence permit. They are privileged programs designed for high net worth individuals who want to live and work in another country. Romania Residency by Investment Solution. • documents regarding the crossing of the state’s frontier; • justifying documents regarding the legal holding of a housing space; • justifying documents regarding the means of subsistence; • proof regarding the social health insurance; • the criminal record issued by the Romanian authorities; • civil status documents, if it’s the case; The applications for long-term residence rights are solved in 6 months, with the possibility of extending that period for up to 3 months. You often receive the passport in five years or more commit to invest in Romanian businesses and job creation for. 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