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. After 10 years of legal residence, and in certain circumstances after six years, it is possible to apply for Austrian citizenship. 5. 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. Investment name. Each residency by investment scheme offers different investment options and the required investment amount varies for each program. Temporary residency. Our lawyers in Romania can provide legal assistance for this step. 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. 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). The refusal to grant long term residence rights does not have any legal effect on the right of residence of the applicant. Things are a bit more complicated if you are a non-EU citizen who wants to stay in Romania for more than 90 days. Minimum investment. 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 5 years of uninterrupted living. 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. Today we received our passports, a happy day. 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. Then comes a temporary residence permit, if one is employed or gets enrolled as a student. 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. 3 weeks. Residency by Investment Programs allow permanent and temporary residence permits for a certain amount of investment. 48%. 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. These programmes are especially popular with investors not wishing to emigrate and move their family but require flexibility should the need ever reside. Romania Residency by Investment Solution. Swedish Citizenship. 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. (b) has personally the full ownership, possession and peaceful enjoyment of real estate property in Greece. 5. pension-€12,000. A residence permit in Romania is possible to acquire in several ways. A Romania residence permit application is processed within 30 days after you submit all of the required documents. You often receive the passport in five years or more. Latvia — To obtain a Latvian temporary residence permit, one has to buy real estate worth €250,000 and pay a 5% government fee. 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. 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. Copyright © 2011 - 2021 Darie & Manea Law Firm. 61 Unirii Boulevard, Bl. 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. Residence Permit for Investment Activity (ARI / Golden Visa) Temporary residency. Can you help me host my headquarters in Romania? 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. 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. proof of income -€12,000. 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 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. 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. 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. Temporary Residence Permit. Temporary residency. 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. What do you do when your PFA exceeds the VAT cap? Residence permit programs … 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. 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. Enquiry Factsheet. European But Not EU Member States’ Residency by Investment Programs 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. 5. “Thank you for your excellent service. Note: The above information were compiled from EU commission report fact finding study on investor residence and citizenship schemes available in Romania. 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. 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. €100,000 (no limits) Qualifying investments. There are several residency by investment programmes in Europe that grant residency, often through real estate investment but without the requirement to reside. 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. 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. If the applicant spends more than six months in a year abroad, that entire year is disregarded for the purposes of the citizenship application. 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. Temporary residence permit is normally granted for one or two years, subject to renewal either annually or every two years. Investment. 6. retired. Romanian Residence Program . 208, District 3, 030828, Bucharest. 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. Temporary Residence Permit. They are privileged programs designed for high net worth individuals who want to live and work in another country. Our team of Romanian lawyers can provide more details about these conditions. 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 naturalization time is reduced by half for citizenship, if the foreigners invest atleast EUR 1 million or more under the currently citizenship legislation. 48%. Best Citizenships is now a part of Yellow network, “Very honest and professional service. 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 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. You can also get residency by investing a similar amount in a Latvian business or a local bank. The second stage is the citizenship application. Invest for residency in europe. 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. 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. Business investment. 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 duration of residence permit is usually two or three years which can can be prolonged. ▪ 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. • 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. 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. 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. Investment for Residency and Citizenship. ▪ 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. Business visa / long term residence permit. 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). Portugal. Please reach out for information on how to open a company in Romania. 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. Romanian Photovoltaic - Wind Farms Romania, Lawyers and the legal profession in Romania, The separation of property regime in Romania, Recognition of foreign judgments in Romania, Recognizing a foreign judgement in Romania, The Civil International Trials in Romania, Enforcement of a final judgement in Romania, The International jurisdiction of Romanian Courts, The recourse in the interest of law in Romania, Eviction from used/occupied building without right, The procedure for the declaration of death, Public auctioning of movable property in Romania, The use and exercise of procedural rights Romania, Data Protection and GDPR lawyers in Romania, Amendments and completions of Law no. Permanent. The refusal to grant long-term residence rights can be appealed within 30 days from the communication to the Court of Appeal. Processing time. An investment of €500,000 will get you a residence permit in this country. For example, one can acquire a residence permit by owning a company in the country. We initially struggled arranging documents and paperwork, but the company was assisting us in every step. 6. The permit can be changed to permanent residency permit after the five-year period of residence. Residence permit for entrepreneurs in order to practice a self-employed. Foreigners may establish their residence in Romania … 4. Residence for financially independent person governed by provision of Article 44 of the aforementioned law. unrestricted. 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. 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. What makes CBI online platforms so popular? In addition, applicants must show proof of monthly income of EUR 500 (USD … 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. 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. ▪ knowledge of the Romanian language at least at a satisfactory level; ▪ you do not represent a threat for the public order or national security. A citizen of any country can become a participant in the governmental program and obtain Romanian citizenship by investments. 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. 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. 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. 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. ▪ they do not represent a threat for the public order or national security. • 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. If you need a reliable team of lawyers in Romania to help you in this matter, do not hesitate to contact our team. Tax credit of up to 80% of the corporate tax due, for up to 10 years, for investments exceeding approx. This means that every year the Austrian Government announces a ‘quota’, a limited number of such residence permits to be issued. 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. There is a reduced minimum investment of €350,000 for those who … A residence permit is initially issued for one year and can then be renewed without problems or interruptions. 6. entrepreneur. The residence permit of Romania is a document that allows it holder to legally reside in Romania. Special assistance for investors is available at our Romanian law firm. Call the experts at our law firm in Romania for a free consultation. 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. Residence permit document in Romania. The Golden Visa gives you the option to obtain a higher-ranking second passport, but usually at a bigger cost. Investors who wish to become Romanian citizens have to go through the general naturalisation process. In the case of jointly owned property, worth 250,00… AVA Georgia, legally provides diverse services in the field of real estate, investment, and residence in Georgia. Portugal. : The Romanian passport is 18th powerful EU passport in the world. The refusal as well as the reasons for its formulation, will be communicated in writing to the applicant within 15 days of the resolution. EUR 330,000, subject to EU state aid legislation. 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. Austrian Residence-by-Investment. Why is the Notice necessary before litigation? Highly recommended people”. Persons of independent means aspiring to obtain residence permits in Austria are subject to the annual quota. Best Citizenships (BC) is a global brand for citizenship and residence planning for wealthy HNW clients. Granted after 5 years of living holding PR status. 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. 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. Romania is a EU member state, but currently in the process of joining schengen area. 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. entrepreneurship--48%. In addition they must meet the following. 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. You can do this through an initiative called residency-by-investment, also popularly referred to as the Golden Visa Program. An Austrian residence permit allows you to travel to all Europe’s Schengen Area states without a visa. We are happy to hear you want to permanently move to our country. ▪ 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. 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