Romania Facts and Figures

Facts About Romania

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

Romania is a big Central European country.

Its port on the Black Sea gives access to the East and the Middle East. More and more organizations worldwide are looking for ways to take advantage of this.

That includes the U.S. Air Force, which is moving out of Germany andTurkeyand into strategically located Romania.

Romania Facts


Information Type	Romania Data
Population	19,892,812 (June 2023 est.)
Gross Domestic Product (GDP)	$350.41 billion (2023 est.)
GDP Per Capita	$18,410 (2023 est.)
Inflation Rate	9.30% (June 2023)
Currency	Lei (RON)
Exchange Rate Versus U.S. Dollar	4.50 Lei = 1 U.S. Dollar (December 2023)
Language	Romanian
Capital	Bucharest
Population of Capital City	1,877,155 (June 2023)
Time Zone	GMT plus 2
Seasons	Distinct seasons: dry, warm springs; wet, hot summers; dry, cool autumns; cold, snowy winters
International Dialing Code	40
Electricity	230V / 50 Hz; Plug Types: C, F
System of Government	Unitary Semi-Presidential Republic
Name Of Current Leader	Marcel Ciolacu (Since June 2023)
Income Tax Rate for Residents	16%
Property Tax	0.08% to 0.02%
Capital Gains Tax	Income from the sale of real property is taxed between 1-3%
Inheritance Tax	No, but notary fees may apply.
Rental Income Tax	Taxed at income tax rate
Transfer Tax	0.5% to 3%
Sales Tax	24%, 9% and 5%
Restrictions on Foreign Ownership of Property	Foreigners cannot own land directly; must hold through a Romanian corporation
Local Chamber of Commerce	22 Nicolae Balcescu Boulevard, Sector 1 Bucharest 79502 Tel: (0040-01) 61 547 03 06
American Chamber of Commerce	11 Ion Campineanu Street Union International Center, 5th Floor Bucharest 010031 Tel: (0040) 21 312 48 34
Primary Exports	textiles, footwear, metals, metal products, machinery and equipment, minerals, fuels, chemicals, agricultural products
Residency and Visa Requirements	Tourist Visa: 90 days upon entry Residency: work, temporary resident, permanent stay visasCitizenship: after 5 years of legal residence and proficiency in the Romanian language, culture, and history
Special Benefits for Foreign Residents or Retirees	None
National Airline	Romanian Air Transport (TAROM)

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