罗马尼亚制定了类似“罗马尼亚黄金签证”的方案：向承诺投资至少 400,000 万欧元的非欧盟投资者提供五年可续签的居留许可，没有最低居住要求，但需维持投资。
据报道，符合条件的资产包括罗马尼亚政府债券（期限≥5年）、房地产（持有≥5年）、ASF授权的投资基金以及罗马尼亚上市公司的股票。
该法案在欧盟更为紧张的背景下提出，因为西班牙正在取消房地产黄金签证，葡萄牙也在调整其制度，从而催生了对新替代方案的需求。
预计会进行严格的资金来源、制裁、犯罪记录和国家安全审查，与欧盟对投资移民的全面审查保持一致。
根据初步报道，投资者及其家人在合法居住五年后，可以根据现行的罗马尼亚法律申请永久居留权或公民身份。
罗马尼亚拟推出的400,000万欧元投资居留计划，有望成为欧洲最灵活的选择之一：五年可续签居留权，无居住要求，可投资多元化合格资产，且合规要求严格。对于投资者和顾问而言，现在就准备好文件、资金来源和投资结构，有助于在计划实施后加快申请流程。
目录
概述：罗马尼亚400,000万欧元投资移民计划草案及其重要性
罗马尼亚提出了一项新的投资居留计划，该计划将允许非欧盟公民通过至少400,000万欧元的投资获得可续签的五年居留许可，只要在许可有效期内维持符合条件的投资，则无需强制实际居住。初步报告显示，符合条件的资产包括罗马尼亚政府债券（期限≥5年）、房地产（持有≥5年）、经ASF授权的基金以及在罗马尼亚上市的公司的股份。
根据初步报道，投资者及其家人在合法居住满五年后，可根据现行法律申请罗马尼亚永久居留权或公民身份。需要注意的是，该措施目前仍为草案，具体细节在正式颁布前可能会有所更改。
对于评估欧盟选项的客户，您还可以查看我们的指南 居住, 国籍，以及更广泛的 投资规划 使国际流动性与资产战略保持一致。
投资住院医师项目及其重要性
罗马尼亚的提案正值欧盟投资移民格局发生转变之际。西班牙已着手取消与房地产投资挂钩的黄金签证，而葡萄牙自2012年以来筹集了约7.3亿欧元后，正调整其投资移民政策，以支持住房和移民目标。在此背景下，罗马尼亚若推出类似黄金签证的途径，允许五年可续签，投资门槛为400,000万欧元，涵盖多元化的资产类别，且无需停留，则有望满足日益增长的欧盟投资居留权需求。
投资者流动性依然遍及全球：目前已有超过100个国家实施某种形式的投资入籍或居留权项目。罗马尼亚的这项投资入籍计划草案一旦通过，很可能吸引那些时间紧迫、希望在不搬迁的情况下获得欧洲立足点的企业高管，前提是他们能够提供资金来源证明并顺利通过更严格的审查。
符合条件的投资：政府债券、房地产、ASF授权基金和上市股票
政府债券
根据已公开的草案概要，其中一种方案是至少向罗马尼亚政府债券配置400,000万欧元，债券期限至少为五年，并在整个许可期限内持有。该渠道使投资者的投资期限与罗马尼亚的中期融资目标保持一致，并为当局提供了一种透明的境内工具，用于核实和监控合格资产。
房地产
房地产投资也包含在内：根据现行规定，符合条件的400,000万欧元投资必须持有至少五年。最终法规应明确符合条件的房产类型、估值方法和产权负担规则。律师事务所应准备好估值标准、产权和留置权核查以及符合反洗钱规定的收购资金托管流程。
ASF授权基金和上市股份
据报道，该草案将投资于罗马尼亚金融监管局（ASF）授权基金（即受罗马尼亚金融监管局监管的基金）以及购买罗马尼亚上市公司的股票纳入合格资产范围，门槛为400,000万欧元。这为投资组合投资者提供了更多受监管的、以市场为基础的投资渠道，前提是托管、经纪和报告流程得到完善。
概览：投资途径（基于报告草案）
| 资产类别 | 资格规则 | 指示性持仓 | 笔记 |
|---|---|---|---|
| 政府债券 | 罗马尼亚主权债券≥400,000万欧元 | ≥5年（债券期限≥5年） | 透明的陆上仪器 |
| 建筑地产 | 罗马尼亚房产价值≥400,000万欧元 | 持有≥5年 | 预计估价/产权检查 |
| ASF授权基金 | ≥400,000万欧元的ASF监管基金 | 许可期限内维护 | 保管/报告由规则规定 |
| 上市股票 | 罗马尼亚上市股票价值≥400,000万欧元 | 许可期限内维护 | 需要经纪/KYC |
以上所有参数均反映的是法案草案的报告情况，法案颁布后可能会有所变化。
许可证机制：可续签的五年居住权，无需强制性实际居住和投资维护
拟议的许可有效期为五年，可续签，且无最低实际居住时长要求。关键的持续条件是，申请人必须在整个居留期间维持400,000万欧元的合格投资。据报道，合法居留五年后，受益人可根据罗马尼亚现行法律框架申请永久居留权或公民身份。
已知信息 vs. 待定义信息 (TBD)
- 已知（草稿）： 最低投资额 400,000 万欧元；资产类别；五年可续期许可证；无居留要求；维持投资。
- 待颁布时确定： 申请流程、州政府费用、受抚养人定义、资产转换、税务处理和退出/转移规则。
税务规划应尽早进行，以避免在构建资产结构时出现意外的居住地或预扣税后果。有关税务规划方法的背景信息，请参阅我们的概述 税务考虑 和 企业设立策略.
合规与尽职调查：资金来源、制裁筛查和国家安全审查
申请人需提供更完善的文件以证明资金来源合法，此举符合欧盟投资移民的惯例。报告显示，相关部门会进行严格的审查，涵盖反洗钱/了解你的客户 (AML/KYC)、资金来源和犯罪记录等方面。
资金来源文件编制指南
- 绘制溯源图： 收入、股息、资本收益、企业出售、继承或赠与，以及将资金端到端联系起来的合同和银行对账单。
- 编制经审计的财务报表 或提供纳税申报表以证明积累和汇款途径（如适用，则视具体司法管辖区而定）。
- 使用受监管的第三方托管/保管渠道 证明资金有明确流入罗马尼亚合格资产。
- 预估翻译/海牙认证要求 外国文件（具体规定见规章）。
制裁筛查和国家安全审查
预计审批流程将包括制裁筛查、犯罪背景调查和国家安全审查——这反映出欧盟对投资移民项目的审查力度加大。近年来，政策制定者已发出信号，表明欧洲各地将提高标准。
律师事务所合规性检查清单
- 制裁和暴露后预防筛查 涵盖全球和欧盟名单；记录结果并更新周期。
- 犯罪记录证明 并对所有居住国的法院记录进行搜索（范围待定）。
- 负面媒体报道和财富来源叙事 符合银行级标准。
- 投资监控 确保持续符合资格（例如，债券到期、资产估值测试（如规定））。
如何提前做好准备（在法案生效前）
- 确认投资者概况与各类资产的风险承受能力是否匹配；预先筛选是否存在制裁和政治公众人物风险敞口。
- 汇编资金来源文件，包括主要文件和银行记录；在可行的情况下进行预先翻译。
- 安排受监管的中介机构（托管人、经纪人、公证人、估价师）来选择首选路线。
- 起草符合预期五年持有期的家庭保障计划和退出策略。
如果您需要一份涵盖投资居留权、长期公民身份目标和投资组合构建的协调计划，我们的团队可以帮助您衔接法律、财务和合规流程。探索我们的指导 居留途径 和 公民身份规划， 然后 联系我们 开始。
结语
罗马尼亚的“黄金签证”草案——投资400,000万欧元于债券、房地产、ASF授权基金或上市股票——可提供五年可续签的居留权，且无居住要求，以满足欧盟其他成员国收紧签证政策后积压的需求。由于预计资金来源和安全性审查将非常严格，投资者应尽早准备好文件、构建投资结构并确保持续合规，以便在法律生效后迅速行动。如需定制方案， 联系我们.
常見問題解答
罗马尼亚投资移民计划的最低投资额是多少？
根据已公布的提案草案，金额为 400,000 万欧元。
哪些资产符合草案规定？
根据初步报告，罗马尼亚政府债券（≥5年到期）、房地产（持有≥5年）、ASF授权基金和罗马尼亚上市公司的股票。
是否有最低实际居住时间要求？
不。据报道，草案规定，只要投资得以维持，即可获得五年可续签的居留权，且无强制居住要求。
这能获得永久居留权或公民身份吗？
有报道称，根据现行法律，投资者及其家人在合法居住五年后可以申请永久居留权或罗马尼亚公民身份。
罗马尼亚的方案与其他欧盟方案相比如何？
该计划将新增一项灵活的、可续签的五年投资居留权，允许持有多元化资产，且无居住要求。而此时，西班牙正在取消房地产黄金签证，葡萄牙也在调整其相关制度。
一目了然
- Romania’s €400,000 Golden Visa bill (B490/2025) was withdrawn in December 2025 after a negative assessment by the Supreme Council for National Defence (CSAT). No law was enacted.
- Romania became a full Schengen member on 1 January 2025, making Romanian residence permits more valuable for mobility across Europe.
- Active EU alternatives include Greece (from €250,000), Portugal (fund-based from €500,000), and Hungary.
- Romania’s flat 免个人所得税 and existing business-visa routes under OUG 194/2002 remain available.
- Standard path to Romanian citizenship takes 连续合法居住8年，不是 5 年。
What happened to Romania’s Golden Visa bill
Romania’s proposed Golden Visa programme never became law. Senate bill B490/2025, registered on 14 October 2025 by the PNL party, would have created a residency-by-investment route for non-EU nationals willing to commit at least €400,000 in Romanian assets. The bill was withdrawn by PNL in December 2025 following a negative assessment from CSAT, Romania’s Supreme Council for National Defence.
No law number was assigned, no implementing regulations were issued, and no government agency was designated to administer the programme. As of May 2026, there is no active Golden Visa statute in Romania and no confirmed replacement bill has been filed in Parliament.
This article preserves the details of the original proposal for reference and explains what viable alternatives exist for investors interested in Romanian residency, EU mobility, and the country’s favourable tax environment.
What the €400,000 draft bill proposed
The withdrawn bill envisioned a five-year renewable residence permit for non-EU investors who placed at least €400,000 in one of four qualifying Romanian asset classes. No minimum physical-stay requirement was included — applicants would only need to maintain the qualifying investment for the duration of the permit.
The proposed asset classes, as recorded in the Senate filing, were:
| 资产类别 | 最低限度 | Holding requirement |
|---|---|---|
| 罗马尼亚政府债券 | €400,000 (maturity ≥ 5 years) | Duration of permit |
| 建筑地产 | €400,000 | 持有≥5年 |
| ASF-authorised investment funds | €400,000 | Duration of permit |
| BSE-listed company shares | €400,000 | 持有≥5年 |
These parameters reflect the Senate filing only. No law was enacted and no implementing regulations were issued.
The bill also referenced enhanced due diligence requirements including source-of-funds documentation, sanctions and PEP screening, criminal background checks, and national-security vetting by Romanian intelligence services (SRI and SIE) and the anti-money-laundering office (ONPCSB).
Why the bill was withdrawn
CSAT’s negative assessment was the decisive factor. Romania’s national security council evaluates proposed legislation that could affect state security, and investment-migration programmes have drawn particular scrutiny across the EU. The 2025 CJEU ruling against Malta’s citizenship-by-investment programme reinforced the trend toward tighter controls on residency-for-sale schemes at the EU level.
Rather than amend the bill to address CSAT’s concerns, PNL chose to withdraw it entirely in December 2025. Whether a revised version or a new bill will emerge remains uncertain. Investors who were waiting for this programme should consider the active alternatives described below.
Romania’s Schengen membership and mobility benefits
Romania became a full Schengen Area member on 1 January 2025, with air and sea border controls lifted from 31 March 2024 and land borders following on 1 January 2025. This makes Romanian residence permits significantly more valuable for international mobility.
Third-country nationals holding a valid Romanian residence permit can travel visa-free within the Schengen Area for up to 90 days in any 180-day rolling period — the same mobility benefit offered by Greek, Portuguese, or any other Schengen-member residence permit. No separate Schengen visa is required.
For investors exploring European options, this puts Romania on equal footing with established programmes in terms of travel rights, while offering a lower cost of living and a flat 10% income tax rate.
Active paths to Romanian residency
While there is no Golden Visa, Romania does offer residency through business investment under its existing aliens’ law (OUG 194/2002). These routes require active business involvement rather than passive capital placement, but they provide a legal path to residence and eventually to permanent residency and citizenship.
The most common business structures used by foreign investors are the SRL (limited liability company) and the SA (joint-stock company). An SRL can be established with minimal share capital, while an SA requires a higher capitalisation and is suited for larger ventures. Both routes can lead to a temporary residence permit tied to the business activity.
For investors looking at combining residency with cross-border structuring, we provide guidance on 投资居留权, 商业登记和 税收筹划 in Armenia as part of a multi-jurisdiction strategy.
How Romania compares with active EU Golden Visa programmes
With Romania’s Golden Visa bill withdrawn, investors comparing EU residency-by-investment options should focus on the programmes that remain active. The landscape has shifted significantly since 2024.
| 国家 | 状态 | 投资门槛 | 重点说明 |
|---|---|---|---|
| 希腊 | 有效 | €800,000 (prime areas), €400,000 (other), €250,000 (renovation) | Tiered since Sep 2024; min 120 m²; high processing backlog |
| 葡萄牙 | Active (non-RE) | €500,000 (qualifying funds), €250,000 (cultural/artistic) | Real estate route removed Oct 2023; fund and job-creation routes remain |
| 匈牙利 | 有效 | 因路线而异 | Active residency-by-investment programme |
| 西班牙 | Ended (RE route) | 无 | Real estate Golden Visa terminated 3 April 2025 (Organic Law 1/2025) |
| 罗马尼亚 | 取消 | €400,000 (proposed, never enacted) | Bill B490/2025 withdrawn Dec 2025 after CSAT veto |
For clients already holding residency in another jurisdiction and looking to diversify, Armenia offers 临时和永久居留许可 alongside a competitive tax environment and straightforward 商业登记 的过程。
Tax treatment for Romanian residents and non-residents
Romania applies a flat 10% personal income tax rate for both residents (on worldwide income) and non-residents (on Romanian-source income only). Tax residency is triggered by the 183-day physical presence test within any 12-consecutive-month period, or by establishing a centre of vital interests in Romania.
An investor who holds Romanian residency but does not physically reside in the country (i.e., does not meet the 183-day threshold and has no centre of vital interests there) would generally not be considered a Romanian tax resident. This means they would only be taxed on income sourced within Romania.
Romania does not have a non-domicile or remittance-basis tax regime. Capital gains are taxed at the standard 10% flat rate for residents. Romania maintains double-tax treaties with numerous countries including the United States, United Kingdom (new treaty effective 1 January 2026), UAE, Israel, and Singapore, which can reduce withholding rates on cross-border payments.
For investors considering a multi-jurisdiction approach, comparing Romania’s 10% flat tax with Armenia’s tax environment can be valuable. See our guide to 亚美尼亚的税收 以获取详情。
Path to permanent residency and Romanian citizenship
Permanent residency in Romania requires continuous legal residence with compliance with absence limits — it is not automatic after a set number of years. Applicants must demonstrate they have maintained lawful and uninterrupted residence.
The standard path to Romanian citizenship under Citizenship Law No. 21/1991 requires 连续合法居住8年, not 5 as is sometimes reported. The 5-year route is available only to spouses of Romanian citizens. There is also a reported fast-track option for investors making significant economic contributions (approximately €1 million), which may reduce the timeline, though specific conditions should be confirmed with Romanian immigration counsel.
A Romanian passport provides visa-free or visa-on-arrival access to a wide range of countries and full EU freedom of movement. For investors who also hold 亚美尼亚公民身份, this creates a powerful dual-citizenship combination for global mobility.
Due diligence and compliance considerations
Even though the Golden Visa bill was withdrawn, the due diligence standards it referenced reflect broader EU expectations that apply to any investment-migration pathway. Investors pursuing Romanian business residency should prepare for the same level of scrutiny.
Key preparation steps include mapping the full provenance of investment funds with contracts and bank statements, preparing audited financials or tax returns, conducting sanctions and PEP screening against global and EU lists, assembling criminal record certificates from all countries of residence, and lining up regulated intermediaries such as custodians, brokers, and notaries.
Anticipate translation and apostille requirements for foreign documents. If you need help structuring a compliant application across multiple jurisdictions, our team can coordinate the legal, financial, and documentation workstreams.
