[ESTABLISHING A BUSINESS ENTITY IN ROMANIA] 405
continuous activity. For example, a long-stay visa for commercial activities is granted to foreigners who are or will become shareholders or hold administration positions, within Romanian legal entities, but only following the prior approval of the Romanian Agency for Investment and Foreign Trade. The extension of the right to stay is possible, and in the case of temporary residence permits issued to aliens who have invested a minimum number of Euro 500,000 or have created over 50 full-time work positions, their initial right of stay of ninety days is extended by three years. Aliens can obtain permanent residence permits only if they have continuously and legally resided on the Romanian territory in the last five years. The residence is considered as continuous when the period of absence from the Romanian territory is fewer than six consecutive months and it does not exceed a total of ten months. However, as a special provision, aliens who can prove that they have invested a minimum number of Euro 1,000,000 or that they have created 100 full-time work positions in Romania, can obtain a permanent residence permit without being required to reside continuously and legally on the Romanian territory for five years. Under Romanian legislation, holders of permanent residence permits benefit from the same treatment as Romanian citizens regarding (i) access to the Romanian employment market, (ii) access to all forms and levels of education and professional training, including scholarships, (iii) benefits from social security, assistance and social protection, from public heath assistance, tax deductions, (iv) access to public goods and services, including the obtaining of housing, (v) benefits from freedom of association, affiliation and membership in a trade union or professional organization, and (vi) the right to establish and
change their domicile on the Romanian territory under the same conditions as Romanian citizens. The permanent right to stay ends in certain situations, as for example: (i) cancellation or annulment, (ii) obtaining of a permanent residence right on the territory of another state, (iii) in the case of a term of absence of twelve consecutive months, with the exception of the situation in which, during this term, a temporary residence permit for a member state of the European Union was issued, (iv) in the case of a minimum of six consecutive years of absence from the Romanian territory. Aliens who hold permanent residence permits issued by the relevant Romanian Immigration Office may enter and reside in any of the member states of the European Union for up to 90 days, within a period of six months, without a visa being required. Aliens can take up permanent working positions in Romania upon compliance with the following cumulative conditions: (i) the respective vacancies cannot be filled by Romanian, EU, EEA nationals or with permanent residents, (ii) they comply with the special professional training, experience and authorization conditions required by the employer in accordance with the legislation in force and do not have a criminal record incompatible with the activity which is envisaged to be carried out in Romania, (iii) they provide evidence of being medically fit to carry out the respective activity and they have no criminal record that may be incompatible with the activity to be carried out in Romania, and (iv) they conclude a full-time employment agreement. The abovementioned conditions do not apply to aliens who exercise the mandate of a director in a company, if there is only one alien appointed to this position. Aliens can take up permanent working positions in Romania only with employers that, for at least
ILN Corporate Group – Establishing a Business Entity Series
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