Retiring & Investing In Sibiu, Romania
Most Affordable Place To Retire In Europe? On this warm May day, the children are gathered around the fountain, in...
Read more| 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 visas Citizenship: 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 |
