Can foreigners buy property in Romania?

As the 8th largest country in the European Union, with a vibrant economy and an ever growing real estate market, buying property in Romania is a great opportunity for foreigners looking to invest. But how can foreigners legally buy land or buildings in Romania?

Can EU and EEA citizens and companies own land in Romania?

Romania is a member of the European Union since January 1st, 2007, when individuals and companies within the European Union (EU) or European Economic Area (EEA) who are resident in Romania gained the right to purchase land subject to the same conditions as Romanian individuals and companies.

EU or EEA individuals and companies who are not residents in Romania are allowed to acquire land in for the purpose of establishing a secondary residence or headquarters as of January 1st, 2012.

As of January 1st, 2014, EU or EEA nationals and companies can also acquire agricultural land or forests in Romania.

Currently, there are 27 EU member countries:

And there are 3 additional member to the EEA:

Can foreign citizens and companies own land in Romania?

Citizens of a third-party state and stateless persons residing in a third-party state, as well as companies having the nationality of a third-party state can acquire land only in the conditions regulated by international treaties, based on reciprocity.

Therefore, foreign citizens and companies cannot directly own land in Romania. However, they may setup or acquire a special purpose vehicle (SPV) in Romania in order to indirectly acquire ownership over the land.

Extra-muros agricultural land is subject to further restrictions, which we shall cover in a different article.

How about inheritance?

The interdiction for foreigners to own land in Romania does not apply to inheritance. Therefore, if a foreigner or a stateless person inherits land in Romania, he or she is free to own it.

However, this exception only applies to ab intestat inheritance, and does not apply to wills.

Can foreign citizens and companies own buildings in Romania?

Buildings, save for the land under them, may generally be owned by anyone, including foreign companies or individuals.

Foreigners may, however, acquire a superficies right or a usage right over the land.