Following a referendum on 23 June 2016, the United Kingdom of England, Scotland, Wales, and Northern Ireland (UK) officially left the European Union (EU) on 31 January 2020. What does this mean for UK citizens who own land in Romania or who wish to buy land in Romania? Does Brexit affect UK citizens who already […]
admin, 29 April 2024
Following a referendum on 23 June 2016, the United Kingdom of England, Scotland, Wales, and Northern Ireland (UK) officially left the European Union (EU) on 31 January 2020. What does this mean for UK citizens who own land in Romania or who wish to buy land in Romania?
Law no. 312/2005 regarding the acquisition of private property rights over land by foreign and stateless citizens only applies to the acquisition of land, and does not concern ownership already acquired by foreigners.
Therefore, Brexit does not affect the ownership rights of UK citizens and companies already acquired in Romania before 31 January 2020.
In an earlier article, we saw that EU or EEA citizens and companies who are allowed to acquire land in Romania subject to the same conditions as Romanian citizens and companies.
Whereas following Brexit, the UK left both the EU and the EEA, UK citizens and companies can no longer directly buy land in Romania. The same as all other foreigners, however, UK citizens may still inherit land in Romania and UK citizens and companies can setup or acquire a SPV in order to own land in Romania.
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