A draft bill on the Romanian Golden Visa, which was submitted to the Romanian Senate for debate by a group of Liberal Party (PNL) members on 14 October 2025. As of today, it has been referred to all relevant parliamentary committees for review and the issuance of advisory opinions and approvals.
The draft Romanian Golden Visa Program offers foreign investors a 5-year renewable residence permit in exchange for a qualifying investment in Romania. It is designed to attract foreign capital and stimulate economic growth through real estate, capital markets, and public investment channels.
Also, one of the reasoning grounds for the proposal is that, unlike other EU Member States, Romania does not currently offer a residence regime based on passive investments (such as the acquisition of government bonds, financial instruments, or real estate) that would attract foreign capital without requiring relocation or the immediate development of a business.
With an investment threshold comparable to that of countries such as Cyprus or Greece (€400,000), Romania can attract investors seeking access to the EU market, while benefiting from relatively low real estate prices and the strong development potential of the local economy.
Residency is granted to the non-EU investor for a period of 5 (five) years, as well as to their family members, based solely on the performance and maintenance of the qualifying investment, with no physical presence requirement in Romania.
After 5 (five) years of residency, the investor can acquire a permanent residency and a Romanian citizenship. The draft bill does not introduce any changes regarding citizenship, which under current legislation may be obtained after 8 (eight) years of legal residence in Romania, subject to a minimum physical presence requirement.
A. Eligible Investments
To qualify, non-EU/EEA/Swiss citizens must make and maintain for at least 5 years one of the following minimum €400,000 investments in Romania:
1. Government Bonds – Purchase of Romanian government securities worth at least €400,000, with a maturity of minimum 5 years.
2. Real Estate – Acquisition of one or more properties totaling €400,000, retained for at least 5 years.
3. Investment Funds – Investment of at least €400,000 in Romanian-registered, ASF-authorized investment funds managed by licensed entities.
4. Stock Market – Purchase of shares in Romanian companies listed on the Bucharest Stock Exchange, worth at least €400,000, held for a minimum of 5 years.
5. Other eligible forms of investment may later be approved by joint order of the Ministry of Economy and the Ministry of Internal Affairs, maintaining or adapting the same value threshold.
B. Residency Benefits:
1. 5-year temporary residence permit, renewable.
2. Family inclusion (spouse, dependent children, and parents).
3. Eligibility for permanent residence after 5 years.
4. Path to Romanian citizenship under Law no. 21/1991.
5. No minimum stay required in Romania — maintaining the investment suffices.
C. Main Applicant Conditions
1. Over 18 years old and holding a valid travel document.
2. No criminal record, no Schengen bans, and no security risks.
3. Must prove legal origin and availability of funds.
4. Must hold valid medical insurance in Romania.
D. Process & Monitoring
1. Application filed at Romanian embassies or the General Inspectorate for Immigration (IGI).
2. Pre-approval issued within 60 days after security and financial checks.
3. Investment completed within 6 months of pre-approval.
4. Residence permit issued (valid 5 years) upon proof of investment.
5. Annual compliance report confirming maintenance of investment.
E. Institutional Oversight & Implementation
• IGI (Ministry of Internal Affairs) – issues and renews residence permits.
• ARICE (Romanian Agency for Investments & Foreign Trade) – certifies and monitors investments.
• SRI, SIE, and ONPCSB – assess national security and financial integrity.
• Ministry of Economy – coordinates investment supervision.
• Under Article 10, within 90 days of enactment, the Ministries of Internal Affairs and Economy must jointly issue detailed implementation rules, including:
Application and evaluation procedures.
Verification of investments and fund origin.
Cooperation mechanisms between IGI, ARICE, Ministry of Finance, and security institutions.
Clear standards ensuring transparency, compliance, and investor protection.
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