This type of visa is granted on the basis of the approval of the Romanian Centre for Promoting Trade and Foreign Investments to foreigners who, are shareholders or partners in charge with management or administration duties in companies that are Romanian legal entities, which are going to make an investment, under the conditions stipulated in this article.
The approval of the Romanian Centre for Promoting Trade and Foreign Investments is granted to the foreigners, who cumulatively meet the following conditions:
a)they present a business plan under the conditions established by law;
b)they prove through a single statement of account issued by a bank in Romania on the name of the natural person who is a foreign citizen applying for the approval that they have the funds necessary to conduct the business, worth at least 100,000 Euros for foreigners associated in a limited liability company and at least 150,000 Euros for foreigners who are shareholders in a joint stock company;
c)within 12 months of obtaining the residence permit they will achieve an investment according to the business plan provided in point a), bringing a capital contribution or technology worth at least 100,000 Euros for a limited liability company and at least 150,000 Euros for a joint stock company;
d)the proposed activity shall create within 12 months from obtaining the residence permit at least 10 new jobs for a limited liability company and at least 15 new jobs for a joint stock company.
In the case of companies with 2 or more partners or shareholders requesting the approval, the conditions stipulated above will be analysed separately for each applicant, the value of the investment to be made and number of jobs to be created will be increased accordingly, depending on the number of applicants for the approval.
The foreigners who previously obtained an approval from the Romanian Agency for Foreign Investments or from the Romanian Centre for Promoting Trade and Foreign Investments may request the issuance of another approval, in accordance with this article, in the following situations:
a)they prove the objective impossibility to achieve their previous business plan;
b)they prove that they have achieved the previous business plan.
The visa application shall be accompanied by the following documents:
a)approval of the Romanian Centre for Promoting Trade and Foreign Investments;
b)criminal record certificate or another document with the same legal value;
c)medical insurance for the visa validity period;
d)proof of accommodation.
The application accompanied by the documents referred to above will be submitted to the diplomatic missions or consular offices of Romania and transmitted via the Consular Department of the Ministry of Foreign Affairs, Romanian Immigration Office for approval according to their competences.
The approval of the Romanian Centre for Promoting Trade and Foreign Investments is valid for 6 months from the issue date and it is meant to establish the compliance with the technical, utility and economic feasibility of the investment to be implemented by the foreign citizen.
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