A New EU Gateway for Global Capital
Romania has tabled a draft Residency by Investment framework—popularly dubbed a “Golden Visa”—offering a five-year, renewable residence permit to non-EU investors in exchange for a €400,000 qualifying investment. The proposal reflects Romania’s broader push to attract long-term capital while aligning with EU security and compliance standards.
Four Eligible Investment Routes (Keep for 5 Years)
- Government bonds with a minimum five-year maturity
- Real estate (residential or commercial) worth at least €400,000
- ASF-authorized investment funds
- Shares in companies listed on the Bucharest Stock Exchange
The draft contains no minimum annual physical stay to retain status, a feature valued by internationally mobile families.
Eligibility, Security & Compliance
Applicants must evidence the legal origin of funds, clear international sanctions checks, and pass security vetting. Screening would involve the Romanian Intelligence Service (SRI), the Foreign Intelligence Service (SIE), and the National Office for the Prevention and Combating of Money Laundering (ONPCSB). Immediate family members can be included on the same permit.
Pathways to PR & Citizenship
The draft references access to permanent residency after five years and the possibility of applying for citizenship under Law no. 21/1991. The exact sequencing—PR first or direct eligibility after five years—will be clarified in implementing rules. Standard naturalization is eight years, with reductions of up to three years for meaningful economic, cultural, or philanthropic contributions.
Legislative Status & Next Steps
- Filed in the Senate as first chamber; committee reviews follow (Economic, Legal, National Security) before a vote.
- Then proceeds to the Chamber of Deputies for the final decision, with potential Constitutional Court review on request.
- After passage, the President has up to 20 days to promulgate or return the bill for re-examination; final laws publish in the Official Gazette. Methodological norms then set application steps, fees, due diligence, and monitoring.
Quote/s
“Am semnat proiectul împreună cu mai mulți colegi senatori liberali… dorința de a atrage investitori în România.” — Sen. Mihai Coteț, bill co-initiator (media interview, Oct 2025).
en: “I signed the bill together with several fellow Liberal senators… motivated by the desire to attract investors to Romania.” — Sen. Mihai Coteț, bill co-initiator (media interview, Oct 2025).
Why it Matters for HNW Families
- Flexible presence: maintain global mobility without a residency day-count burden (per draft).
- Diversification: multiple regulated routes (bonds, funds, listed equity, property) with a five-year horizon.
- Inter-generational planning: family inclusion and a structured pathway to PR/citizenship, subject to law.
Advisory Note
Stellar Pass advises HNWIs on EU residency frameworks and due-diligence alignment. For Romania’s draft program, we map investment route selection to portfolio strategy, risk, and timing—coordinating with local counsel for security screening and source-of-funds substantiation.
FAQ
What is the minimum investment for Romania’s Golden Visa?
€400,000, sustained for five years through one of the four eligible routes (bonds, real estate, ASF funds, listed shares).
Is there a minimum stay requirement?
The draft does not impose an annual presence requirement to maintain status.
Can I include my family?
Yes—dependents may be included under the same residence permit.
Does it lead to citizenship?
Potentially. The bill references permanent residency after five years and possible citizenship under Law 21/1991; exact timing awaits implementing norms.
Where is the bill now?
Filed with the Senate; committees will review before votes in both chambers and subsequent promulgation.
Next Steps with Stellar Pass
Stellar Pass can coordinate route selection, documentation, and due-diligence workflows in sync with Romania’s implementing norms once promulgated, ensuring timing and compliance are optimized for global families.