In the context of globalization, foreign investment is a very common and important practice. This practice provides the entrepreneurs with a broader scope for implementing their business ideas and it also helps boost the local economy. The European Union provides entrepreneurs with the opportunity to invest in businesses outside their local or national economic systems. This practice still holds up because it was proved to be successful.
In most European Union state members, one can obtain an investment visa if they invest in an existing or new local business or buy a property. The amount of money that one has to invest in order to obtain this visa varies from country to country. Most countries offer temporary visas that are valid for 1 year but can be renewed. After a few years, investors can apply for a permanent visa. With a good idea, a lucrative business plan and the right support, anyone can run a successful business in any European country. Thanks to its great economic potential and fast economic growth, Romania might prove to be a very good option.
Requirements for obtaining an investment visa in Romania
The first step for obtaining a Romania investment visa is to receive a one year residence permit. In order to do that, applicants must receive an endorsement from the Romanian Center for the Promotion of Foreign Investments. These residence permits are granted to applicants who are or will become shareholders or associates, in management and administration positions, within companies which have legal personality in Romania. Applicants have to provide proof of legal ownership over the space for the office and show proof of monthly income of 500 Euro for associates and 700 Euro for stakeholders for the period of the stay. The residence permit is renewable for successive 1 year periods. The condition for extending the residence permit varies according to the amount invested and the number of jobs created. For investments of at least 200,000 Euro or in case at least 25 workplaces were created, the proof of the means of subsistence is no longer necessary. If the investment made by the applicant reaches at least 500,000 Euro or they have created at least 50 full-time jobs, their residence right will be extended by 3 years. There are no special requirements with respect to business experience or training, but you will have to create a business plan that includes the full value of your investment, where you plan to invest and the number of jobs that you want to create. You will have 12 months to make the investment proper and a three year projection of your business growth. You will also need to have proper health insurance for you, your spouse and dependent children less than 18 years of age.
Obtaining Romanian citizenship by investment
You can request Romanian citizenship by investment. In order to do that, first, you must obtain an investment visa. Then you must invest 1 million Euro in business or real estate and to be a legal resident in the country for 4 consecutive years. After that, you, your spouse and minor children can apply for citizenship in Romania. You will also have to demonstrate proficiency in the Romanian language as well as knowledge of Romanian culture, society and the Constitution.
How can we help you?
Since it has joined the European Union, Romania has undergone a lot of changes in terms of financial policies. Foreign investment in Romania is very profitable. First of all, it is much cheaper. In the UK, for example, you have to invest about 1 million pounds, while in Romania, the minimum investment is 100 000 Euro. Romania has experienced an unprecedented economic growth rate in the last decade and so it has become a market worth investing in. But the fast growth and the changing political landscape has made it a bit tricky for foreign investors to obtain visas. As a foreign investor, you have to know to avoid costly mistakes. This can be easily solved with the right guidance and consultancy and we can provide you with that. We can provide you with services tailored to your specific requirements in regards to budget and lifestyle.