Romania Facts and Figures

Facts About Romania


Information Type	Romania Data
Population	19,237,691 (June 2020 est.)
Gross Domestic Product (GDP)	$275 billion (2020 est.)
GDP Per Capita	$13,000 (2020 est.)
Inflation Rate	2.2% (2020)
Currency	Lei (RON)
Exchange Rate Versus U.S. Dollar	4.11 Lei = 1 U.S. Dollar (June 2016)
Language	Romanian
Capital	Bucharest
Population of Capital City	1,803,247 (2020
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	Klaus Werner Iohannis (Since December 2014)
Income Tax Rate for Residents	16%
Property Tax	0.1% to 0.2%
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	http://ccir.ro/en/ 22 Nicolae Balcescu Boulevard, Sector 1 Bucharest 79502 Tel: (0040-01) 61 547 03 06
American Chamber of Commerce	www.amcham.ro 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) www.tarom.ro

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