Your investment, your residency: Everything you need to know about Romania’s Golden Visa

Romania Golden Visa: Investment & Residency Guide

1. What is a “Golden Visa”?

A "Golden Visa" is a temporary residence permit granted in exchange for a substantial investment in a country. It is the first step toward obtaining permanent residence and, eventually, Romanian citizenship after five years. The program's main purpose is to attract foreign capital and stimulate the local economy. The initiative originated in Europe in the 2010s, with Latvia being the first to introduce it to mitigate the negative effects of the 2008 financial crisis. After its successful implementation, other countries, such as Portugal, Greece, and Spain, followed suit.

Currently, Romania does not have such a program, but the Senate recently initiated a legislative proposal to regulate the right of residence for foreign investors. This proposal is under review by the permanent commissions.

2. What are the eligibility requirements?

According to the current form of the bill, the Golden Visa programme is open to non-EU/EEA/Swiss citizens who meet the following cumulative conditions:

• Are at least 18 years old;
• Hold a valid border crossing document;
• Have no alerts in the National Information System;
• Have no alerts in the Schengen Information System;
• Have not been convicted of intentional criminal offenses in their country of origin and are not the subject of ongoing criminal investigations;
• Prove the origin of the funds to be used for the investment;
• Hold valid medical insurance in Romania;
• Prove the availability of the funds to be used for the investment;
• Do not pose a threat to Romania's national security and are not subject to a prohibition of entry measure.

3. What type of investments are eligible?

Applicants for a Golden Visa are expected to invest in:

• Romanian government bonds (with a 5-year minimum maturity);
• Real estate with a minimum total value of €400,000 and own the property for at least 5 years from the date of acquisition;
• Fund investments with a minimum value of €400,000 authorized by Romania’s Financial Supervisory Authority (ASF);
• Company shares with a minimum value of €400,000 listed on the Bucharest Stock Exchange, held for at least 5 years.

Other types of investments may be designated by the joint decision of the Ministry of Economy, Digitalization, Entrepreneurship and Tourism, and the Ministry of Internal Affairs.

Maintaining the investment for the entire duration of the permit is essential; otherwise, the permit may be revoked.

4. Why choose this programme?

Investors and their families are entitled to a five-year temporary residence permit, which is renewable. After five years, they can apply for permanent residence and, subsequently, Romanian citizenship. Acquiring the residence permit also grants the holder the benefit of free movement within the Schengen Area, subject to the "90 days in any 180-day period" rule. Another advantage is operational flexibility, as continuous stay in Romania is not required to maintain the validity of the visa.

5. What do you need to know before making the move?

Risks include revocation of the residence permit if the investment is not maintained for a minimum of five years, if forged documents or false statements are submitted, or if national security concerns arise. Analyses of the Romanian property market indicate that high investment thresholds may push demand toward the luxury segment, leading to oversaturation and reduced rental and resale yields. Properties bought at inflated prices may lose value if interest in the program declines or the scheme is amended. Low liquidity and market volatility could also make investments hard to sell, posing a long-term financial risk.

6. Are you ready to start? Here’s how you get your visa!

The first step is submitting your application at the Romanian Diplomatic Mission in your country of residence, or at The General Inspectorate for Immigration (IGI). A decision is made within 60 days, granting “approval in principle.”

The next step is making the investment and submitting proof, along with documents for the issuance of the temporary residence permit, within six months of preliminary approval. The authorities then verify all documents and issue the permit within 30 days.

Key Romanian authorities, including intelligence services, anti-money laundering bodies, and investment agencies, oversee the process to mitigate risks such as national security threats, money laundering, and terrorist financing.

7. How long will it take?

Obtaining the Golden Visa may take up to three months, plus the time needed to prepare the application. We recommend starting early. Our team of lawyers provides full assistance—from selecting the most suitable investment to guiding you through all legal formalities—ensuring a safe, transparent, and stress-free process, letting you focus on your investment and future in Romania.