Can Foreigners Acquire Land Inside Romania?
The content 4 of Real Estate Law translates: "The citizen of a member state
without legal residency within Romania, the stateless non-resident having
residency in an European Union country and the non-resident foreign legal
organization (company) included per the stipulations of the EU legislations, are
able to obtain ownership on land for secondary residences, respectively
secondary headquarters, in a term regarding 5 years after Romania offers joined
the European Union".
LEGAL ADVICE IS VERY RECOMMANDABLE
Legal
aspects:
Under current legislation overseas investors can't buy property
until 2012.
In respect to building structures, the relevant law doesn't
provide any special conditions for the acquisition of ownership rights there on.
Foreign citizens may readily acquire ownership rights over building structures,
whereas for the appurtenant property a superficies right can be established (the
to use the land) so long as the building structure exists.
Farm land and
forest can be purchased by foreigners only right after 7 years from EUROPEAN
accession
A foreign citizen can find land if obtains residency. Romania is
not just a place for vacation or used for Romania trips but is also a nice place
to live in and build a family.
A Romanian registered business own by
foreign a investor can buy and own land along with other properties. Choosing
the right property is also a must so take a look at property Romania since they
have beautiful places within Romania.
The non-EU-foreign-citizen is able
to own properties in Romania in ailments of reciprocity based simply on
international treaties between the countries; however they cannot acquire
ownership of Romanian terrain in more favorable ailments than citizens of the
european union.
So it is easy for any foreign citizen to make a Romanian
company and own every type of properties.
The most common kind of company
is the Constrained Liability Company ("Societate cu raspundere limitata"
SRL)
The minimum social capital of your SRL company in Romania is
actually 200 RON and there exists a maximum of 50 shareholders. One other
characteristic is that any person or legal entity (Romanian or even foreign
company) can only be sole shareholder in one company.