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Romania - Real Estate Going Global

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Romania - Real Estate Going Global

In the Romanian law is enshrined the principle of free transferability of assets, with only few restrictions on the acquisition of real estate or a set of conditions to be met to this effect (e.g. restrictions/conditions to be fulfilled for foreign companies and individuals; the pre-emption right of the state regarding certain property with special statute, etc).

Romanian natural persons and legal entities (regardless of the citizenship of the shareholders) are free to acquire land.

Foreign citizens, stateless persons and legal entities are allowed to acquire land ownership in Romania only under certain circumstances. European nationals, part of the EU or EEA, may freely acquire construction land in Romania if they are resident and will be allowed to acquire agricultural land and woodland after seven years would have been passed from Romania’s accession to EU. Foreign nationals outside the EU and the EEA will be able to acquire ownership in compliance with an international treaty.

Source : PWC

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