Questions and Answers

Q: I am looking to purchase Romanian land for future development. Where do I start?

A: First you need to know that foreigners (even E.U. citizens) cannot yet own land in the country so you will have to incorporate a Romanian company. Then you will either have to contact a Romanian agent or search for the property yourself on the Internet. After initial contact with the seller you will have to search for a Romanian lawyer for a Due Diligence procedure (find out if you can build on the land, details on current legal status etc.) and assistance during the sell/purchase process.

Q: Why should I invest in Romania?

A: Top reasons would be: 1. new member of the European Union; 2. One of the largest markets in the area; 3. skilled labor force; 4. developing infrastructure; 5. construction and real estate boom.

Q: Where should I invest in Romania?

A: Although the NE region (Moldavia) has a slightly better infrastructure the N - NW region (Transylvania) is richer and with more future business potential.  E.g. Timisoara has a high number of foreign investors (mostly Italian), real estate prices have boomed in Cluj-Napoca, Sibiu has been selected European Capital of Culture in 2007 and benefits from a large number of German investors. With these being said, Bucharest is probably still the place to invest in most areas.

 

Links

Ionita, Enescu & Cuc - Business Law Firm based in Bucharest, Romania

ArisInvest - Romanian Agency for foreign investment

InvestRomania - Romanian Business News portal

BusinessRomania - Business news and articles

Bucharest Business Week - Magazine in English focused on business in Bucharest

Romanian News - Media monitoring service focused on Romania