Romania is making moves in the investment migration space. The Eastern European nation has drafted legislation for a new golden visa program that could open its doors to wealthy non-EU investors by the end of the year.
According to reports from Profit.ro, the proposed program sets the bar at €400,000. That’s the minimum investment required to secure a five-year renewable residence permit. Four distinct investment routes are on the table, giving applicants flexibility in how they deploy their capital.
Investment Options
The draft law outlines several pathways for prospective investors. You can purchase Romanian government bonds worth at least €400,000, provided they have a minimum five-year maturity. Real estate is another option—buy property valued at €400,000 or more and hold it for five years.
Alternatively, investors can put their money into Financial Supervisory Authority-authorized investment funds. The fourth route involves purchasing shares in Romanian-listed companies, again with a €400,000 minimum threshold.
What makes this program particularly attractive? There’s no minimum stay requirement. Investors can maintain their residence status without actually living in Romania. That’s a significant advantage for those who want EU access without relocating.
Due Diligence and Security
Romania isn’t taking shortcuts on vetting. Applicants must prove their funds come from legal sources. They can’t appear on international sanctions lists. Security risk assessments are mandatory.
The Romanian Intelligence Service, Foreign Intelligence Service, and National Office for the Prevention and Combating of Money Laundering will all weigh in before permits get issued. It’s a thorough screening process designed to protect national security interests.
Family members can be included under the same permit, making this a viable option for those looking to relocate with dependents.
Path to Citizenship
Here’s where things get interesting—and slightly ambiguous. The draft law mentions access to permanent residency after five years and the possibility of applying for Romanian citizenship under existing law. But the timeline isn’t crystal clear.
Standard Romanian citizenship law requires eight years of legal residence for naturalization. However, this can be reduced by up to three years for applicants who contribute to economic life, education, culture, human rights, or social causes. Whether golden visa holders can apply immediately after five years or must first obtain permanent residency remains uncertain.
Legislative Journey Ahead
The proposal still has hurdles to clear. It must pass through Romania’s bicameral legislative process, starting likely in the Senate before moving to the Chamber of Deputies. Parliamentary committees—Economic Affairs, Legal, and National Security—will review and potentially amend the text.
The Constitutional Court might also examine the law, especially given its implications for EU law, residence rights, and security protocols. After parliamentary approval, the President has 20 days to sign or return the bill. Once promulgated, relevant ministries will issue detailed application procedures and monitoring requirements.
Global Context
Romania’s proposal arrives amid a surge in new investor residence programs worldwide. The Maldives announced its first investor visa in July, requiring roughly $250,000 in property investment. The Trump administration introduced the Gold Card Suite in February, with permanent residence options ranging from $1 million to $5 million.
Kazakhstan and Uzbekistan launched programs earlier this year at $300,000 and $250,000 respectively. The UAE expanded its Golden Visa in October to include philanthropists. Romania’s initiative marks the fifth major residency by investment program in 2025.
For investors seeking EU access, Romania presents an intriguing opportunity. The €400,000 threshold is competitive. The no-stay requirement offers flexibility. And the potential path to citizenship—though unclear—adds long-term value.
Whether this program becomes reality depends on how smoothly it navigates Romania’s legislative process. But if approved, it could position Romania as a serious player in the investment migration market.