Quote:
Originally Posted by dangdang1957
Hello
i saw your post on overseas propert investment forum - but my question is what are the legal restrictions on uk citizens buying in Romania? I have read that the buyer must have Romanian residency - is this true? many thanks , Adam
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Hello Adam,
The restriction is foreigners can't own land in Romania. Now this restriction does not refer to those foreigners who became resident citizens and in that case can own land in the form of the footprint plot that comes with the building/apartment they purchase.
Foreigners can also own land if they start company in Romania and buy the land on the company. However, there are fiscal issues involved that make us recommend investors not to set up company in order to buy. Send me a private message and I'll tell you more about these issues.
Regards,
Diana Marinescu
Managing Partner Transylvania Investment