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Romania Facts and Figures

Facts About Romania

Information TypeRomania Data
Population21,666,350 (July 2015 est.)
Gross Domestic Product (GDP)$413.8 billion (2015 est.)
GDP Per Capita$20,800  (2015 est.)
Inflation Rate-0.6% (2015)
CurrencyLei (RON)
Exchange Rate Versus U.S. Dollar4.11 Lei = 1 U.S. Dollar (June 2016)
LanguageRomanian
CapitalBucharest
Population of Capital City1,868,000 (2015)
Time ZoneGMT plus 2
SeasonsDistinct seasons: dry, warm springs; wet, hot summers; dry, cool autumns; cold, snowy winters
International Dialing Code40
Electricity230V / 50 Hz; Plug Types: C, F
System of GovernmentUnitary Semi-Presidential Republic
Name and Party Affiliation
of Current Leader
Klaus Werner Iohannis (Since December 2014) (National Liberal Party)
Income Tax Rate for Residents16%
Property Tax0.1% to 0.2%
Capital Gains TaxIncome from the sale of real property is taxed between 1-3%
Inheritance TaxNo, but notary fees may apply.
Rental Income TaxTaxed at income tax rate
Transfer Tax0.5% to 3%
Sales Tax24%, 9% and 5%
Restrictions on Foreign
Ownership of Property
Foreigners cannot own land directly; must hold through a Romanian corporation
Local Chamber of Commercehttp://ccir.ro/en/
22 Nicolae Balcescu Boulevard, Sector 1
Bucharest 79502
Tel: (0040-01) 61 547 03 06
American Chamber of Commercewww.amcham.ro
11 Ion Campineanu Street
Union International Center, 5th Floor
Bucharest 010031
Tel: (0040) 21 312 48 34
Primary Exportstextiles, footwear, metals, metal products, machinery and equipment, minerals, fuels, chemicals, agricultural products
Residency and Visa RequirementsTourist 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 RetireesNone
National AirlineRomanian Air Transport (TAROM)
www.tarom.ro

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