Prepared by Robert Trăilescu, Romanian business lawyer and Bucharest Bar member.
Last reviewed: October 2026
Foreign entrepreneurs aiming to open a business in Romania often have two separate objectives: setting up the business and obtaining the legal right to live in Romania.
A foreign non-EU citizen can own shares in a Romanian company without being resident in Romania. However, opening a Romanian company does not automatically give its shareholder or director the right to reside in Romania.
For non-EU entrepreneurs, the appropriate immigration route depends mainly on the role they intend to have in the Romanian company.
This article outlines the main legal options available in Romania in 2026 for foreign entrepreneurs having the citizenship of a country from outside the European Union, European Economic Area and Switzerland.
At a glance
- Non-EU nationals can establish or own a Romanian company without holding a Romanian residence permit.
- Company ownership does not automatically grant the right to live in Romania.
- The D/AC visa is the principal route for foreign investors who are also involved in managing their Romanian business.
- The D/AC route involves an approved investment plan, financial commitments and job-creation requirements.
- The D/AS visa (director route) is available to foreign directors who do not hold shares in Romanian companies.
- A separate D/AS route exists for managers of Romanian subsidiaries, branches or representative offices of foreign companies.
- Obtaining the initial visa is only the first stage. A residence permit must subsequently be obtained in Romania.
- Continued compliance with the applicable investment, management and immigration conditions is important for residence permit renewals.
Can a foreign entrepreneur open a company and obtain residence in Romania?
In most cases, a non-EU entrepreneur can establish or acquire shares in a Romanian company without holding Romanian residence. However, if that person also intends to live in Romania, a special immigration path is required.
For entrepreneurs who intend to invest directly in a Romanian company and actively participate in its management, the main route is the long-stay visa for commercial activities – D/AC.
The other legal route provided by the Romanian law is the long-stay visa for other purposes – D/AS – this is regulated for foreign non-EU citizens appointed as directors in the Romanian company, but not as shareholders, or for directors/legal representatives appointed to manage the Romanian establishment of a foreign company.
If you are still considering how to establish your Romanian business, see our detailed guide to registering a company in Romania, which explains the incorporation procedure, corporate requirements and practical steps for setting up an SRL.
1. Residence in Romania as an investor and shareholder in a Romanian company: the D/AC visa
This route applies to foreign nationals who are shareholders of Romanian companies and who also hold leading or management responsibilities.
It is important to emphasize that company ownership alone is not sufficient. The D/AC route is based on an investment project and involves specific financial and business commitments.
Step 1: Preparing the investment plan
Before applying for the visa, the foreign investor must obtain the specialized technical approval, issued by the Romanian Agency for Investments and Foreign Trade, required for the proposed investment plan.
In broad terms, this stage involves elaborating a business plan describing the Romanian company, the proposed investment, its implementation stages and the jobs expected to be created.
The applicant must also demonstrate access to the funds necessary for the investment, which, under the current legal framework, the minimum levels are:
- EUR 100,000 for a shareholder of a Romanian limited liability company;
- EUR 150,000 for a stockholder of a Romanian joint-stock company.
The investment plan must have a financial projection of at least 3 years and must also lead to the creation of new jobs.
For an LLC, the legislation generally requires at least 10 new jobs, while a joint-stock company requires at least 15.
Step 2: Applying for the long-stay visa for commercial activities (D/AC)
Once the specialized technical approval has been obtained, the entrepreneur can apply for the D/AC visa through the competent Romanian diplomatic mission or consular office.
The application includes the investment-related documentation together with the standard immigration documents, such as the criminal record certificate, medical insurance and evidence of accommodation.
The visa tax applicable in 2026 is EUR 300.
The purpose of the D/AC visa is to allow the investor to enter Romania under the appropriate scope (commercial activities) and subsequently apply for a temporary right of residence. The D/AC long stay visa is issued for a 90-day period.
Step 3: Obtaining the Romanian residence permit
After entering Romania, the investor must apply to the General Inspectorate for Immigration for the extension of the temporary right of stay and issuance of the residence permit.
At this stage, the authorities will verify the applicant’s status in the Romanian company, the specialized technical approval of the business plan, the relevant corporate documents, accommodation, health coverage and financial means.
In this stage, the applicant must demonstrate financial means of at least EUR 500 per month in the case of a member of an LLC (SRL) and EUR 700 per month in the case of a stockholder of a joint-stock company. For investments of at least EUR 200,000 or if at least 50 jobs have been created, proof of financial means is not required.
The residence application should be filed at least 30 days before the expiry of the applicant’s existing right of stay.
The residence permit application currently involves a tax equivalent to EUR 120, payable in RON, together with RON 265 representing the cost of issuing the residence permit.
Maintaining and renewing residence based on commercial activities
Obtaining the first residence permit does not complete the investment-related obligations.
For future residence permit extensions, the Romanian immigration authorities will verify whether the business is implemented in accordance with the approved investment plan and whether the statutory investment and employment conditions continue to be met. The foreign citizen must continue to hold the corporate role (as shareholder and director/manager).
For subsequent extensions, Romanian law requires the following minimum investment thresholds to be reflected in company’s share capital or technology contributions:
- EUR 50,000 in case of a shareholder within a limited liability company.
- EUR 70,000 in case of a stockholder of a Romanian joint-stock company.
As a general rule, temporary residence for commercial activities can be extended for successive periods of up to one year.
Foreign investors who make substantial investments or create a significant number of jobs can benefit from longer extension periods. In particular, investors who demonstrate an investment of at least EUR 500,000 or the creation of more than 50 full-time jobs can obtain extensions for periods of up to three years.
The D/AC visa route must be considered as a continuing investment-based residence structure rather than a one-time immigration formality.
2. Residence in Romania as a director of a Romanian company – The D/AS visa (long-stay visa for other purposes)
A different immigration route is available to a foreign citizen who is appointed as director of a Romanian company without becoming a shareholder in that company. This route is fundamentally different from the investor one.
A foreign national applying as director must not be a shareholder or stockholder of the Romanian company and must not hold shares/stocks in another Romanian company.
The applicant must also satisfy the other statutory conditions. Among these, within the Romanian company it must have made a share capital contribution or technology transfer of at least EUR 50,000.
In addition, Romanian law restricts the possibility of having more than one foreign citizen benefiting from residence on the same director legal ground within the same company.
Visa and residence procedure for foreign directors
The foreign director first applies for the D/AS long-stay visa. The application includes evidence of the management position and share capital allocation together with a set of documents required to prove the specific immigration conditions. In principle, there are supporting documents relating to corporate conditions, accommodation, medical insurance and criminal record status.
The visa tax is EUR 300.
After entering Romania on grounds of D/AS visa, the director must apply for the extension of the temporary right of stay and obtain a residence permit. At this stage, the applicant must demonstrate, amongst other conditions:
- the continuous valid management mandate,
- proof of the EUR 50,000 investment injected in the company’s share capital or in transfer of technology. Starting with the second residence permit renewal, the applicant must prove that the share capital was invested in a real estate acquisition for the company’s business scopes or in transfer of technology.
- accommodation in Romania,
- health insurance and medical certificate,
- and means of financial support of at least EUR 500/month derived from the activity rendered as director.
The residence permit taxes are the same as for the investor route: the equivalent in RON of EUR 120, together with RON 265 for issuance of the permit.
3. Residence for managers of Romanian branches, subsidiaries or representative offices of foreign companies – another D/AS visa type
This option can be relevant for international groups that want to establish or develop operations in Romania while maintaining their principal corporate structure outside Romania. Depending on the business model, the Romanian operation of a foreign company can take the form of a subsidiary, branch or representative office.
Romanian immigration law provides a separate D/AS route for foreign citizens appointed to manage a Romanian subsidiary, branch or representative office of a company headquartered abroad. These are not equivalent legal forms. They have different legal characteristics and can serve different commercial and tax purposes.
The subsidiary is a Romanian company 100% owned by a foreign company. This corporate structure is considered a separate legal entity in relation to the foreign company.
A branch is considered an extension of the foreign company in Romania (e.g. as a secondary office in Romania) and does not hold separate legal capacity from the foreign company.
Both the subsidiary and the branch of a foreign company are registered to the Romanian National Trade Registry, and considered permanent establishments.
On the other hand, a representative office of a foreign company is not labeled as a permanent establishment as it not engages in commercial or trading activities, but it has merely a supporting role. The representative office is registered with the Ministry of Economy, Digitalization, Entrepreneurship and Tourism.
The D/AS visa stage
The foreign national must be formally appointed to manage one of the Romanian subsidiary, branch or representative office of the foreign company.
Important to mention that the Romanian law restricts the possibility of another foreign national within the same establishment already benefiting from residence rights on the same legal ground.
Another important note: the foreign citizen who manages the subsidiary/branch or representative office can be shareholder/stockholder of the foreign company as there is no legal restriction in this sense.
The applicant must also satisfy several specific conditions, such as:
- proof of means of financial support at least equal to the Romanian statutory gross minimum salary for the entire period covered by the visa,
- documents proving the purpose of the stay,
- appropriate accommodation in Romania,
- medical insurance with minimum coverage of EUR 30,000
- and a criminal record certificate.
The visa is issued for 90 days and the visa tax is EUR 300.
Obtaining the residence permit after entering Romania
After entering Romania, the foreign manager must apply for the extension of the temporary right of stay and the corresponding residence permit.
At this stage, the management relationship condition is particularly important: The Romanian immigration law expressly prescribes a management mandate agreement or another document having the same legal effect concluded between the Romanian structure and the foreign manager, without the need to present an individual employment agreement.
The applicant’s remuneration from the management mandate agreement must be at least equal to the Romanian statutory gross minimum salary.
The residence application will also require evidence of the applicant’s valid passport, legal accommodation in Romania, health insurance and compliance with the other general immigration requirements.
As a conclusion for this route, the corporate documents establishing the Romanian presence, the appointment of the foreign manager, the management mandate and the immigration procedure should ideally be structured together from the beginning.
4. A special residence route for US, Canadian and Japanese entrepreneurs
US, Canadian and Japanese citizens benefit from a special Romanian immigration regime that can be relevant when they establish a Romanian company and seek residence in connection with their business activity.
This regime differs from the standard procedure applicable to most non-EU entrepreneurs.
The residence options available to US, Canadian and Japanese entrepreneurs shall form the object of a dedicated article.
Frequently asked questions
No. A person can own a Romanian company without living in Romania, but the Romanian law does not automatically convert company ownership into an immigration right.
Immigration route must always have a separate legal basis.
This is why the corporate structure should ideally be planned before the immigration process begins.
Although the supporting documents vary depending on the applicable immigration route, the process usually follows three main stages.
First, the business and immigration structure must be selected.
This involves deciding whether the foreign entrepreneur will invest personally in a Romanian company, act as shareholder and manager, be appointed solely as director or manage the Romanian presence of an existing foreign company.
Second, the applicant must apply for the appropriate visa through the Romanian consular system. In 2026, the fee for Romanian long-stay visas is EUR 300.
Third, after entering Romania, the foreign national must apply to the General Inspectorate for Immigration for the extension of the temporary right of stay and issuance of a residence permit. The main conditions to be checked at this stage depend on the chosen legal basis – please see the previous sections.
How RT Legal Office can assist a foreign entrepreneur?
For a foreign entrepreneur who plans both to establish a business and move to Romania, corporate and immigration matters should ideally be handled as parts of the same legal project.
Robert Trăilescu (RT Legal Office) can first analyze the proposed business model and identify the corporate structure that best reflects the client’s objectives. Depending on the circumstances, legal assistance can include establishing a Romanian limited liability company, structuring the shareholding and management arrangements, registering a branch or assisting with another form of Romanian business presence.
Assistance can also include drafting shareholders’ resolutions and management documents, preparing powers of attorney and coordinating the use of foreign documents in Romania, including apostille, legalization and notarized/certified translation requirements, by case.
For investors applying under the commercial-activities route, legal assistance can extend to coordinating the corporate documentation with the investment plan and the documents required for the specialized technical approval needed for the plan.
Also, depending on the chosen legal path, legal assistance is particularly important at the stage of investment implementation via share capital allocation, real estate acquisition or transfer of technology.
At the immigration stage, RT Legal Office can assist with identifying the correct visa and residence category, preparing and reviewing the supporting documentation and communicating with the competent Romanian authorities.
Legal advice remains relevant after the first residence permit has been obtained: investment and job-creation obligations, changes in shareholding & management structure and residence renewals can all affect the foreign entrepreneur’s immigration status.
Planning to start a business and move to Romania?
Robert Trăilescu (RT Legal) assists foreign entrepreneurs with Romanian company formation, corporate and management arrangements, investment-related documentation, and the legal requirements for obtaining and maintaining residence in Romania.
Contact Robert Trăilescu to discuss your business and residence plans in Romania.
This guide provides general information on the legal options available to non-EU entrepreneurs seeking to establish a business and obtain residence in Romania. It does not constitute legal or immigration advice for an individual case. Eligibility, documentation and applicable requirements should be assessed in light of the applicant’s circumstances and the legislation in force at the time of application.