Extended stay in Romania for entrepreneurial purposes

In case you are an EU citizen or for what is worth one of the European Economic Area and you have decided that Romania is about to become your next destination purely for business purposes, please do bear in mind that there are certain ways you can opt for:
a. Being a shareholder of a certain company which needs to be established
b. Being a managing or an administrative member, i.e. member of the administration board, of a certain company;
furthermore, you must get a certain approval from the Ministry of Energy, Small and Medium Enterprises and Business Environment
As soon as you get such an approval in writing you are eligible for a long-term visa by the competent consular authorities.

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LONG STAY VISA

In light of the aforementioned the written approval as mentioned above is not the only necessary document, but only one of certain other ones also considered sine qua non in order for a long-term visa to be issued. In a nutshell these certain documents read as follows:
• Written opinion issued by the Ministry of Energy, Small and Medium Enterprises and Business Environment
• Penal/ criminal record, or any such equivalent document
• Health/ medical certificate of the sort that needs to be valid for as long as the visa itself is valid
• Evidence proving proper accommodation
The issuance of the 90-days long stay visa shall be concluded only after the payment of a fee of 120, 00€ which alongside the rest of the aforementioned documents must be submitted to the competent diplomatic or consular authorities, while beforehand and in terms of internal procedures, a long stay visa must be approved by the National Visa Center and only after it has been considered as a valid request by the General Inspectorate for Immigration within a period of thirty days’ time, plus an extension of fifteen that may be also provided for
The 90-days long stay visa stands regardless of the actual entries of the beneficiary at hand

RESIDENCE PERMIT

After having entered the country, a residence permit has to be issued accordingly, so as for your right to lawfully reside in Romania by obtaining such an approval from the General Inspectorate for Immigration of your country of origin. Before the expiry date of your lawful right to stay as provided for thanks to the issuance of a visa you will again need to submit a relevant written plea
The same stands in the case of the issuance of an extension of residence for commercial activities whereby a number of documents need to be submitted which read as follows:
• Documents related to border-crossing which might as well be a passport, but not only that and which in any case needs to be the original one and not just a copy
• Employer’s confirmation e.g. in form of a letter
• An official notice issued by the Romanian Centre for the Promotion of Foreign Investments
• Registration Certificate of the Company, both an original and a copy
• Statute/ articles of incorporation, both an original and a copy
• Registration court order, both an original and a copy
• Evidence of financial means, in particular 500€ per month and per associate, and 700€ per month and per shareholder throughout the respective validity period of the permit
• Evidence regarding the seat of the registered office, both an original and a copy
• Evidence regarding the address of the persons residing, both an original and a copy
• Evidence of social insurance provision
• Health/ medical certificate
• Declaration form
• Fee

The residence permit needs to be renewed 30 days in advance before the expiry date of the already existing one. If an extension needs to be in place, then a number of additional documents have to be provided for as well:

• Application form
• Documents related to border-crossing which might as well be a passport, but not only that and which in any case needs to be the original one and not just a copy
• Employer’s confirmation e.g. in form of a letter
• Employer’s details duly confirmed
• Specific documentation as issued by the Ministry of Business, Commerce and Entrepreneurship approving and confirming that the employer’s/ corporation’s activities and scope is in accordance with the arranged for business plan
• Evidence of registration
• Certificate regarding main financial factors and data
• Certificate by the Labor Territorial Inspectorate serving as evidence of full-time employees as provided for by law
• Evidence of financial means, in particular 500€ per month and per associate, and 700€ per month and per shareholder throughout the respective validity period of the permit
• Evidence regarding the seat of the registered office, both an original and a copy
• Evidence regarding the address of the persons residing, both an original and a copy
• Evidence of social insurance provision
• Health/ medical certificate
• Declaration form
• Fee

The application as such shall be processed within 30 days’ time from the moment it shall have been submitted.
Should any check of any sort is further required, an extension of 15 days could be provided for
Should any information or any of the documentation submitted alongside the application regarding the extension of the right of residence is either inadequate or incomplete, the competent General Inspectorate for Immigration shall be informing the respective applicant accordingly, while also being obliged to provide all relevant details and data of the sort within 30 days’ time. It must be undersigned the fact that as long as the General Inspectorate for Immigration has not yet received the necessary additional details and data as asked for, paragraph (4) remains in suspension, while if, at the end of the day, no such additional details ad data is provided for, the application may as well be rejected.
Temporary residence for commercial activities is a different status provided for successive periods of single year.

If, however, a foreigner has proceeded with an investment of 500.000, 00€, or as per the provisions of the law, has managed to provide 50 full-time vacancies, then such a right is extended for3 years’ time.
If, on the other hand, a foreigner proceeds with an investment of 150.000, 00€, or as per the provisions of the law, has managed to provide 25 full-time vacancies, other sort of documentation could be provided as well serving as relevant necessary evidence.

Last but not least, if an investment is of the amount of 200.000, 00€, or as per the provisions of law, 50 vacancies have been created accordingly, there is no such need of any other evidence whatsoever
Do bear in mind, that all the aforementioned amounts of money in terms of investment as well as the number of vacancies to be created do come up in relation to the participation of shareholder-s in the company.

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