The majority of our clients being established foreign companies often bring non-EU employees to Romania. For them there is in place a procedure and legal requirements which enables them to obtain a visa for work and a residency in Romania.
Many individual people are now becoming attracted to Romania as it is seen a stable country and they wish to make investments in Romania. For such clients there is a visa regime which is different. For them there outline two options for obtaining the residence permit either as the administrator of a company or by reason of an investment in Romania.
Residence permit for the administrator of a company
A non-EU citizen who is appointed as an administrator of a Romanian company can obtain a Residence permit without having to obtain an employment authorization. This is the major difference and speeds up the process. To obtain this permit an application has to be made to the Romanian consulate in the country where the applicant is based.
One requirement is that the person appointed as an administrator must not be or have been an administrator or a shareholder or associate of the company or of another Romanian legal entity in the preceding two years. Further, no other non-EU citizen shall not have had at any time a right of residence in Romania for this purpose. The proposed administrator must also show that they have resources available for their support of at least five hundred Euro per month for a period of one year. This cannot be from the Romanian company.
Further the company must have received a capital contribution or technology transfer amounting in value to at least fifty thousand (50,000) Euro. This capital contribution must be shown as an investment by the company.
The residence permit is granted is issued for a period of one year. For the renewal of the residence permit, the foreigner must prove that the capital was invested either in a building which was constructed or purchased for use by the company or from where the company conducts its activity. The renewal will also be granted if it can be shown that there has been a transfer of technology from a third party to the Romanian company.
Transfer of technology is the process of transferring production and processing knowledge concerning development and manufacturing of goods or within or between manufacturing sites to achieve the manufacture of goods.
Residence permit by reason of an investment
This type of permit can be granted to a non-EU resident who is a shareholder or associate in a Romanian company and who holds a management or administrative positions other than an administrator in the company which is going to make an investment in Romania.
The investor must provide a detailed business plan and proof of funds to conduct the proposed activity. The amount of the investment must be at least one hundred thousand Euro in the case of a limited liability company and one hundred fifty thousand Euro in the case of a joint venture. The plan must also show that within a period of twelve (12) months the company will create at least ten full-time jobs in the case of a limited liability company or fifteen in the case of a joint venture.
The investor must also show that they have the means to support themselves for at least one year of at least seven hundred Euro per month, if they are a shareholder (joint stock company) or five hundred Euro per month if they are an associate (limited liability company).
The right of residence for investment purposes is for one year and is extended for periods of one year. For investors who have invested at least five hundred thousand Euro or who have created more than fifty full-time jobs the initial right of residence is extended for periods of three years. The amount of the investment and the number of jobs is calculated according to the percentage of participation of the associate or shareholder in the company.
These two alternatives may prove a useful way to obtain residency but require a larger commitment by the investor. As Romania is seen as a good place to invest we anticipate more applicants from non-EU citizens who wish to invest in and create wealth for Romania.
