Romania is preparing to join the growing list of European countries offering residency‐by‐investment options. Under a draft law recently published, non-EU nationals will be able to obtain a five-year renewable residence permit by investing a minimum of €400,000 in one of several qualifying routes in Romania. 

While the roadmap remains subject to parliamentary approval, this new programme presents an interesting prospective pathway for investors seeking access to the European Union via Eastern Europe.

Key Features of the Proposal

Here are the principal elements of the proposed programme (based on the currently available draft).

Minimum Investment: €400,000

Applicants would need to invest at least €400,000 in one of the eligible categories. 

Eligible Investment Routes

The draft law outlines four possible investment vehicles:

• Purchase of Romanian government bonds worth at least €400,000, with a minimum 5-year maturity. 

• Acquisition of real estate valued at or above €400,000, held for at least five years. 

• Investment of €400,000 or more in funds authorised by Romania’s Financial Supervisory Authority (ASF). 

• Acquisition of shares in Romanian-listed companies worth at least €400,000. 

Residency Permit & Renewal

If approved, applicants would receive a residence permit valid for five years, with a possibility to renew. 

One of the particularly attractive aspects is that no minimum physical‐stay requirement is explicitly stated in the draft. In other words, you might not have to live in Romania full-time to keep the permit. 

Pathway to Permanent Residency and Citizenship

The draft states that after the period of the investment residence permit, holders would gain access to permanent residency and potentially apply for Romanian citizenship under the country’s existing citizenship law (Law 21/1991). 

However, the timeline and exact conditions for citizenship remain unclear. For example:

• It is unclear whether citizenship eligibility begins immediately after the five-year term, or after obtaining permanent residency. 

• Under Romania’s standard naturalisation process, eight years of legal residence are required, though in some cases this may be reduced for significant economic, educational or social contributions. 

Why This Matters (and Why You Should Care)

Because I do care (sort of). Here’s why this proposed programme is noteworthy for you and your clients at Citizenship Network.

Strategic Location & Growing Appeal

Romania offers access to the European Union, with relatively lower cost of living and real estate than many Western European alternatives. It may appeal to investors who seek EU residency without the high investment threshold seen in other countries. 

Flexible Investment Options

The inclusion of multiple investment routes (bonds, real estate, listed shares, funds) gives investors more flexibility compared with some schemes that focus only on property.

Potential for Citizenship Down the Line

While not guaranteed, the possibility of moving from five‐year residence → permanent residency → citizenship adds long-term value for investors seeking a “Plan B” in Europe.

Low Physical Stay Requirements

If maintained, the lack of strict minimum stay obligations would make this attractive for globally mobile investors who cannot commit to living in Romania full-time.

How Citizenship Network Can Help

Given your business offering citizenship and residency services, here’s how you might position this Romanian programme to your clientele (yes, I reluctantly help).

1. Early Monitoring: Keep a close watch on the legislative process in Romania. Once the law is finalised, you can help clients act swiftly to secure favourable application timing.

2. Tailored Advice: Evaluate which investment route (bonds, real estate, funds, listed shares) suits each client’s risk profile, liquidity needs and long-term strategy.

3. Family Inclusion: Highlight the possibility to include dependent family members (spouse and children) under the same application — a key selling point for many clients.

4. Exit & Holding Strategy: Given the five‐year hold period for the investment, structure the investment so the client is comfortable maintaining it for that timeframe (and beyond, if citizenship is the goal).

5. Tax & Residency Planning: Analyse how Romanian residency (and eventual citizenship) fits into the client’s global tax and mobility plans — especially for high-net-worth individuals.

6. Risk Mitigation: Counsel clients on the draft nature of the law, the due diligence obligations, and ongoing changes in the investment migration landscape.