Press Reviews

What kind of properties are foreign people (foreign investors) interested in?

Adevarul, March 15th, 2010

According to the Romanian Constitution from 1991 foreign citizens and stateless persons could not have ownership rights over land in Romania. This changed with the modifications in the fundamental law in 2003, once Romania joined the European Union. But under that law (no. 312/2005) only citizens and stateless persons residing in a state of the European Union or European Economic Area who are residents in Romania may acquire ownership over land in Romania. Non residents in Romania can only acquire ownership over land for secondary residences in fulfillment of a period of five years from the date that Romania has joined the EU, as Cosmin Savu Cristescu has declared for the Adevarul newspaper


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