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 moreInformation 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 |
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