romania residence permit by investment

Tax credit of up to 80% of the corporate tax due, for up to 10 years, for investments exceeding approx. It is useful to know that this period may be reduced to four years in the situation that your status as a refugee has been recognized or you are granted subsidiary protection in Romania, depending on the degree of integration in society. €100,000 (no limits) Qualifying investments. Permanent residency. 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. Note: The above information were compiled from EU commission report fact finding study on investor residence and citizenship schemes available in Romania. EUR 330,000, subject to EU state aid legislation. 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. There is a reduced minimum investment of €350,000 for those who … 48%. Investors who wish to become Romanian citizens have to go through the general naturalisation process. You often receive the passport in five years or more. Residence permit programs … Spain — The country has a similar programme to Portugal, and a resident permit can be obtained by buying a €500,000 house or investing €2 million in Spanish government debt. 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. The refusal to grant long term residence rights does not have any legal effect on the right of residence of the applicant. Romania has committed the euro once it fulfils the necessary conditions. 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. 5. The residence permit of Romania is a document that allows it holder to legally reside in Romania. 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. In order to apply for a long term residence permit, you must present a standard application accompanied by the following documents: Yes, there is the possibility of your application being denied. entrepreneurship--48%. Romania offers citizenship and residency to foreign investors who commit to invest in Romanian businesses and job creation. Don't worry about the legal matters while planning to live in Romania and let our lawyers in Bucharest handle your long term residence, hassle-free and at a very competitive fee. 6. person of independent means. Granted after 5 years of living holding PR status. 6. This could be useful if one wants to develop a business in Romania or any of the European Union countries. (b) has personally the full ownership, possession and peaceful enjoyment of real estate property in Greece. Processing time. Business investment. Residency in Romania is approved by the head of the Office for Immigration. 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. Residence Permit for Investment Activity (ARI / Golden Visa) Temporary residency. Serving HNW clients since 2011. Compared to other European countries, it is much cheaper to invest in Romania and grow your investment in the future, due to the European Union funding that leads to rising prosperity. 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. Investment. We asked for the cheapest family passport, they went as far as providing us a discount” – Muhamed,  UAE. 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. Once granted permanent residence, the foreigner must maintain a continuous physical residence, otherwise the right to permanent residence will cease; the foreigner must not be granted permanent residence in another country, must not be absent from the Romanian territory for more than 12 consecutive months. Latvia — To obtain a Latvian temporary residence permit, one has to buy real estate worth €250,000 and pay a 5% government fee. The naturalization time is reduced by half for citizenship, if the foreigners invest atleast EUR 1 million or more under the currently citizenship legislation. ; Incentives for investment in certain sectors (production, logistics, service centres, R&D, tourism, film production, sports, etc. Demonstrated their loyalty towards the Romanian state through their actions, conduct and attitude; Demonstrate that they did not undertake or support actions directed against the rule of law or national security and that he/she has never had such conduct in the past either, Is over the age of 18; Is known to have a good conduct and has not been convicted, either in Romania or abroad, for crimes which make him/her unworthy to be a Romanian citizen; Speaks the Romanian language and has basic knowledge of Romanian culture and civilisation, capable of allowing him/her to integrate into the social life; Is familiar with the provisions of the Romanian Constitution and with the national anthem. Residence permit for entrepreneurs in order to practice a self-employed. We are happy to hear you want to permanently move to our country. 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. ▪ you have a right of continuous residence in Romania in the last 5 years preceding the application, as follows: • your period of absence from the Romanian territory is less than 6 consecutive months and does not exceed 10 months in total; • no measure of removal from the national territory was disposed against you. 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 : The Romanian passport is 18th powerful EU passport in the world. 5. What makes CBI online platforms so popular? “Thank you for your excellent service. 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. Investment name. business activity according to §21 „residence permit to start up a business or investment They are privileged programs designed for high net worth individuals who want to live and work in another country. The permit can be changed to permanent residency permit after the five-year period of residence. If the applicant spends more than six months in a year abroad, that entire year is disregarded for the purposes of the citizenship application. In addition they must meet the following. A residence permit is initially issued for one year and can then be renewed without problems or interruptions. Can you help me host my headquarters in Romania? All foreign nationals need to apply for a temporary residence permit if they plan to stay in Romania for 120 days or more. The first step in obtaining the long term residence in Romania is requesting the granting of this right at the territorial units of the General Inspectorate for Immigration in the county that you live in. This right can be claimed both as a family member of a Romanian citizen, and for another purpose of your stay in Romania, such as family reunification, commercial activities etc. 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). How to get your residence permit if you are a non-EU citizen. 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. 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. 6. entrepreneur. Then comes a temporary residence permit, if one is employed or gets enrolled as a student. Temporary residency. ▪ 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. 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. Depending on its type and the reason, upon which it has been issued, it may also allow or prohibit other activities, such as conducting business. 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. F3, Entrance 4, 2nd floor, Apt. All Rights Reserved. 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). • 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. Puerto Rico. A citizen of any country can become a participant in the governmental program and obtain Romanian citizenship by investments. Call the experts at our law firm in Romania for a free consultation. 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. Residence for financially independent person governed by provision of Article 44 of the aforementioned law. 1. 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. Romania is a EU member state, but currently in the process of joining schengen area. In the case of jointly owned property, worth 250,00… The most popular part of Greece for the real estate investment is … An Austrian residence permit allows you to travel to all Europe’s Schengen Area states without a visa. Copyright © 2011 - 2021 Darie & Manea Law Firm. After 5 years of uninterrupted living. Each residency by investment scheme offers different investment options and the required investment amount varies for each program. Residence permit document in Romania. 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. We initially struggled arranging documents and paperwork, but the company was assisting us in every step. Swedish Citizenship. EU/EEA and Swiss citizens have it much easier when it comes to getting a Romania residence permit. The refusal as well as the reasons for its formulation, will be communicated in writing to the applicant within 15 days of the resolution. These programmes are especially popular with investors not wishing to emigrate and move their family but require flexibility should the need ever reside. 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. Special assistance for investors is available at our Romanian law firm. 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. proof of income -€12,000. 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. 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. Best Citizenships (BC) is a global brand for citizenship and residence planning for wealthy HNW clients. The second stage is the citizenship application. Portugal. AVA Georgia, legally provides diverse services in the field of real estate, investment, and residence in Georgia. 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. The foreigners of Romanian origin or born in Romania, as well as those whose stay is in the interest of the Romanian state, may receive long term residence right solely by fulfilling the condition of not representing a threat for the public order or the national security. 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. Visa type. Why is the Notice necessary before litigation? Today we received our passports, a happy day. The Golden Visa gives you the option to obtain a higher-ranking second passport, but usually at a bigger cost. For example, one can acquire a residence permit by owning a company in the country. 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. 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