Romania Proposes €400,000 Golden Visa Program

Romania is considering a Residency by Investment Program that would grant non-EU citizens a renewable five-year residence permit in exchange for a minimum investment of €400,000.

Investment Options

The proposed framework outlines four qualifying routes:

• Government bonds worth at least €400,000 with a five-year maturity
• Real estate purchases of €400,000 or more, held for a minimum of five years
• Investments in ASF-authorized funds of €400,000 or higher
• Acquisition of shares in listed Romanian companies valued at €400,000 or more

Investors must maintain their selected investment throughout the residence permit’s validity period.

Residency Conditions

• The permit would be renewable every five years
• No minimum stay requirement would apply, allowing full flexibility for investors
• Applicants must prove the legal origin of their funds and clear security screenings by national intelligence and anti-money laundering agencies
• Family members may be included under the same permit

Pathway to Citizenship

After five years, investors could apply for permanent residency and later Romanian citizenship.

However, the draft does not clarify whether citizenship eligibility begins immediately after the five-year period or only following permanent residency status.

Under standard law, Romanian citizenship requires eight years of legal residence, which may be shortened by up to three years for applicants demonstrating strong economic, cultural, or social contributions.

Next Steps

The proposal must pass through Romania’s bicameral legislative process, starting in the Senate and concluding in the Chamber of Deputies, with detailed reviews by the Economic, Legal, and National Security Committees.

Once approved, the law would be published in the Official Gazette, followed by implementing regulations outlining procedures, fees, and due diligence requirements.