business activity according to §21 „residence permit to start up a business or investment There is a reduced minimum investment of €350,000 for those who … 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. Investment for Residency and Citizenship. 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. In addition they must meet the following. The Golden Visa gives you the option to obtain a higher-ranking second passport, but usually at a bigger cost. ▪ 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. Best Citizenships is now a part of Yellow network, “Very honest and professional service. 5. Enquiry Factsheet. 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. 5. Temporary Residence Permit. “Thank you for your excellent service. Temporary Residence Permit. How to get your residence permit if you are a non-EU citizen. Temporary residence permit is normally granted for one or two years, subject to renewal either annually or every two years. The refusal as well as the reasons for its formulation, will be communicated in writing to the applicant within 15 days of the resolution. Today we received our passports, a happy day. EUR 330,000, subject to EU state aid legislation. Romania offers citizenship and residency to foreign investors who commit to invest in Romanian businesses and job creation. Tax credit of up to 80% of the corporate tax due, for up to 10 years, for investments exceeding approx. Persons of independent means aspiring to obtain residence permits in Austria are subject to the annual quota. They are privileged programs designed for high net worth individuals who want to live and work in another country. The residence permit of Romania is a document that allows it holder to legally reside in Romania. A residence permit is initially issued for one year and can then be renewed without problems or interruptions. 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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. Our platform is free to use and we do not charge any fee to clients. 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. Romania Residency by Investment Solution. Investment name. : The Romanian passport is 18th powerful EU passport in the world. 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. 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. Latvia — To obtain a Latvian temporary residence permit, one has to buy real estate worth €250,000 and pay a 5% government fee. ▪ 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. 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. (b) has personally the full ownership, possession and peaceful enjoyment of real estate property in Greece. proof of income -€12,000. 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. 61 Unirii Boulevard, Bl. entrepreneurship--48%. 6. retired. What makes CBI online platforms so popular? 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. All foreign nationals need to apply for a temporary residence permit if they plan to stay in Romania for 120 days or more. You can also get residency by investing a similar amount in a Latvian business or a local bank. 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. Romania has committed the euro once it fulfils the necessary conditions. Residence-by-Investment Overview. 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. Permanent residency. If you are an EU/EEA/Swiss citizen. The second stage is the citizenship application. 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. 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. Best Citizenships (BC) is a global brand for citizenship and residence planning for wealthy HNW clients. The implementation of direct investments for the purpose of obtaining a passport goes through a specialized company approved by the Government of Romania. By decision of the Secretary General of the Decentralized Administration, residence permit for five years, subject to renewal, is granted to a third country national who: (a) has legally entered the country with any type of visa or legally resides in the country, even if the type of residence permit that he possesses, does not permit change of purpose. The holders of a long term residence permit benefit of equal treatment as compared to Romanian citizens in respect to: The foreigners, who hold a long term residence permit, according to immigration Romania law, have the right to establish or move their domicile on the Romanian territory, under the same conditions with the Romanian citizens. Visa type. This could be useful if one wants to develop a business in Romania or any of the European Union countries. 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). In the case of jointly owned property, worth 250,00… 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. An Austrian residence permit allows you to travel to all Europe’s Schengen Area states without a visa. Residence permit for entrepreneurs in order to practice a self-employed. Note: The above information were compiled from EU commission report fact finding study on investor residence and citizenship schemes available in Romania. ▪ they do not represent a threat for the public order or national security. 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. 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. 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). 48%. The naturalization time is reduced by half for citizenship, if the foreigners invest atleast EUR 1 million or more under the currently citizenship legislation. 1. Call the experts at our law firm in Romania for a free consultation. Why is the Notice necessary before litigation? Residency by Investment Programs allow permanent and temporary residence permits for a certain amount of investment. Residency in Romania is approved by the head of the Office for Immigration. The refusal to grant long term residence rights does not have any legal effect on the right of residence of the applicant. Special assistance for investors is available at our Romanian law firm. 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. There are several residency by investment programmes in Europe that grant residency, often through real estate investment but without the requirement to reside. Business investment. 208, District 3, 030828, Bucharest. Minimum investment. 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. 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. We initially struggled arranging documents and paperwork, but the company was assisting us in every step. 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. You often receive the passport in five years or more. Copyright © 2011 - 2021 Darie & Manea Law Firm. 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. A residence permit in Romania is possible to acquire in several ways. A citizen of any country can become a participant in the governmental program and obtain Romanian citizenship by investments. 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. Romanian Residence Program . Romania is a EU member state, but currently in the process of joining schengen area. Swedish Citizenship. 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. In addition, children over 18 years old and parents of the main applicant can be added into the application without additional investment. 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. After 10 years of legal residence, and in certain circumstances after six years, it is possible to apply for Austrian citizenship. 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. 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. 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. 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. 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. The most popular part of Greece for the real estate investment is … 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. The authorized agent provides the investor with advice on the most favorable investment activities, with due regard … You can do this through an initiative called residency-by-investment, also popularly referred to as the Golden Visa Program. 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. To apply for a short-term residence permit, foreigners who own real estate in Turkey or intend to establish a business or business connections in Turkey must submit the following documents to the relevant Provincial Directorate of Immigration Administration (Göç İdaresi) once an application is submitted through the e-residence system. Business visa / long term residence permit. Please reach out for information on how to open a company in Romania. 6. person of independent means. No special rules pertaining to the granting of citizenship on the basis of a residence permit obtained by an investor. 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. Permanent. ▪ 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. Temporary 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. After investing at least EUR 300,000 under the Investor Residency Bond Program, a permanent residency permit will be issued to the investor and his close family members (wife and kids under 18 years old). Can you help me host my headquarters in Romania? Residence permit programs … European But Not EU Member States’ Residency by Investment Programs 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. 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 AVA Georgia, legally provides diverse services in the field of real estate, investment, and residence in Georgia. Invest for residency in europe. 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. According to Romania Law Blog, third country nationals (TCNs, non-EU citizens) can obtain the Romanian Residence permit if they form a company with a minimum of EUR 100,000 capital and they also must create at least ten new jobs. Temporary residency. Foreigners may establish their residence in Romania … 5. Serving HNW clients since 2011. If you need a reliable team of lawyers in Romania to help you in this matter, do not hesitate to contact our team. ; Incentives for investment in certain sectors (production, logistics, service centres, R&D, tourism, film production, sports, etc. Then comes a temporary residence permit, if one is employed or gets enrolled as a student. We asked for the cheapest family passport, they went as far as providing us a discount” – Muhamed, UAE. 3 weeks. 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. Business Immigration To Romania. Portugal. 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. €100,000 (no limits) Qualifying investments. 6. entrepreneur. An investment of €500,000 will get you a residence permit in this country. 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. The refusal to grant long-term residence rights can be appealed within 30 days from the communication to the Court of Appeal. – 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. ▪ knowledge of the Romanian language at least at a satisfactory level; ▪ you do not represent a threat for the public order or national security. What do you do when your PFA exceeds the VAT cap? 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. The naturalization time is reduced by half for citizenship, if the foreigners invest atleast EUR 1 million or more under the currently citizenship legislation. The duration of residence permit is usually two or three years which can can be prolonged. Residence permit document in Romania. Portugal. 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. 5. After 5 years of uninterrupted living. Each residency by investment scheme offers different investment options and the required investment amount varies for each program. All Rights Reserved. These programmes are especially popular with investors not wishing to emigrate and move their family but require flexibility should the need ever reside. Investors who wish to become Romanian citizens have to go through the general naturalisation process. Highly recommended people”. 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. 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. Residence Permit for Investment Activity (ARI / Golden Visa) Temporary residency. Investment. Processing time. Our lawyers in Romania can provide legal assistance for this step.