Business & InvestmentInvestment Opportunities

Residency through Investment and Business

Source: Romanian Agency for Investment and Foreign Trade (ARICE, arice.gov.ro), Foreigners Regime (OUG 194/2002) — Last reviewed: August 2026

1Current Pathway for Commercial Residency

According to the Romanian Foreigners Regime (OUG 194/2002), individuals entering Romania to conduct commercial activities can apply for a temporary residence permit for commercial purposes.
This pathway requires a specialized technical endorsement (aviz tehnic de specialitate) from the Romanian Agency for Investment and Foreign Trade (ARICE) on the applicant's business plan.

2The Role of ARICE

The Romanian Agency for Investment and Foreign Trade (ARICE, arice.gov.ro) is the official government body that evaluates foreign investors' business plans and issues the technical endorsement.
This must be verified based on current regulations and individual circumstances.

3Status of Investment-based Residency

Currently, Romania does not have an active official "Golden Visa" program; the most common long-term residency pathways utilized by investors remain company registration and commercial/economic activity (per OUG 194/2002).
Immigration and investment laws are constantly evolving; it is strongly advised to verify current opportunities through official sources to avoid confusion with outdated or inactive programs.
This must be verified based on current regulations and individual circumstances.

Documents Required for the ARICE Business Plan

Copy of the applicant's passport and ID.
A complete business plan with cost documentation, certified by an authorized accountant.
A bank statement confirming the availability of the required investment funds.
If a company is already registered: its bylaws and latest balance sheet filed with the tax authority.
Notarized power of attorney, if represented by someone else.
The plan must be "necessary, relevant, and useful" and demonstrate technical-economic efficiency, profitability, and viability for at least 3 consecutive years post-investment; the company must have no outstanding state debt and not be in dissolution/insolvency.

Investment Amounts & Timelines

Entry threshold: €100,000 or 10 full-time jobs for an SRL; €150,000 or 15 full-time jobs for an SA — the investment must be realized within 12 months of obtaining the residence permit.
Commission review is typically completed within 15 working days, with a final legal deadline of 30 days to communicate the decision.
Once the technical endorsement is issued, the next step is applying for the D/AC (commercial activity) visa at the Romanian Embassy in Tehran — a €300 fee, 90-day validity, processed within a maximum of 30 days (extendable by 15 more).
After entering on the D/AC visa, the residence permit application must be filed with IGI at least 30 days before the visa's validity expires.
This must be verified based on current regulations and individual circumstances.

⚠️ Important update: on October 16, 2025, a bill for a Romanian "Golden Visa" (minimum €400,000 investment in government bonds, real estate, an investment fund, or listed shares, for a renewable 5-year residence permit) was registered in the Senate — but on December 9–10, 2025, it was withdrawn after Romania's Supreme Council for National Defense (CSAT) assessed it as a national-security risk. If you see this €400,000 scheme described elsewhere as active or imminent, that information is outdated — Romania still has no active golden-visa program, and the only real pathway remains genuine commercial activity through ARICE.

🇮🇷 Iran-Specific: Proving the Source of Investment Funds

One of the required ARICE documents is a bank statement confirming the availability of the required funds (€100,000–150,000). Given Iranian banks' disconnection from SWIFT and EU sanctions (fully explained on the "Currency Exchange" page), transferring and documenting this amount from Iranian sources may be more complex than usual — this is a reasonable inference based on the money-transfer difficulties already documented on this site, not a direct report of an ARICE application being rejected for this reason. Practical tip: where possible, plan the bank-statement route through funds already held in a third-country account, and prepare source-of-funds documentation (asset sale, inheritance, prior investment income) transparently and completely from the outset.

Frequently Asked Questions

Does Romania have a "Golden Visa" program?

No, Romania currently has no official golden-visa program based on simply buying property or making a deposit; the formal pathway remains genuine commercial activity endorsed by ARICE. A similar scheme was proposed in October 2025 but withdrawn in December 2025 over national-security concerns.

Is registering a company alone enough for residency?

No, company registration is only the first step; for commercial residency you must submit a business plan to ARICE and file a separate application with the Immigration Office (IGI). See the company-residency page for details.

Exactly how much do I need to invest?

For the initial ARICE endorsement: €100,000 (SRL) or €150,000 (SA), or alternatively creating 10-15 full-time jobs. Note this differs from the annual residency-renewal threshold (which is lower) — see the "Director & Shareholder Residency" page for details.