Property for sale Romania

Practical guidance to buying property in Romania
Buying property or land in Romania can sometimes prove to be a complicated process, different language and local habits won’t make it easier. That’s why we have put together this brief guide to buying property for sale in Romania or land for sale in Romania.

We can provide advice on all the steps to be taken and the professionals to be contacted, so that when in Romania we will help you find the right solution that best suits you when you are buying your property for sale in Romania. When using us as your real estate agent we aim to help make the purchase of your property in Romania as simple as possible

Under current Romanian Law anyone who is not a Romanian citizen may not purchase land in Romania. However, a Romanian company may purchase land in Romania. This means potential purchasers need to have business partners in Romania. Our company can offer these contacts for you the potential investor

We provide a complete package to assist you to purchase Romanian property,acquisition of a Romanian company on your behalf. There are no restrictions on the ownership of a Romanian company by non-Romanian persons.

The Romanian government has become extremely strict in respect of title to property. There is now a central land registry similar to the UK and other western European countries. No sale will be entered into without a notarised certificate from the land registry showing proper title to the property. No official notary in Romania will provide incorrect information in respect of the title of the property.

On completion of the purchase there are some notary fees payable which are based on a sliding scale in respect of the purchase price of the property. These are nominal amounts which we will estimate and advise prior to completion. A new Romanian company is not required to register for VAT until its turnover reaches a certain threshold unless the company owners wish to make a voluntary application in order to recover VAT for outgoing expenses.

Procedure

1. If you decide to proceed with the purchase of land and property we will form a Romanian company on your behalf for the acquisition of the land. We will then negotiate a deposit with the owners of the property and enter into a secure agreement for a reasonable period of time to complete the transaction. We will act on your behalf as consultants and advise you of the necessary time scale and payment procedures.

2. We will instruct our lawyer on your behalf to obtain the necessary guarantees in respect of the land registry title and if you wish arrange any insurance in case of any default.

3. The company will own the land and therefore the property and will be transferred to you at the time of your choice and therefore you as the sole owner of the company will also be sole owner of the land. Should you wish to sell the property at a later stage you can therefore do this by a simple transfer of the company to another party which will include the ownership of the property and should therefore not incur any capital gains tax.