[ESTABLISHING A BUSINESS ENTITY IN ROMANIA] 399
Long-stay visas will be issued to foreigners, on demand, for a period of up to 90 (ninety) days, depending on the nature of the activity the applicant for such visa will carry out on the Romanian territory. Aliens requiring a Romanian visa will have to attach to their application form a valid travel document, acknowledged by the state of Romania, as well as all the documents required under the law, in order to confirm the stated purpose of the trip, the duration of the stay, the fact that they have the financial means to support themselves during the stay, and also to return to their home country or continue the trip to a third state that will grant them entry, upon the end of their stay in Romania. However, depending on the function of the purpose for which the long-stay visa is required, the applicants will have to attach to their application other necessary documents. After entering Romania on the basis of a long- stay visa, foreigners have to carry out the necessary formalities with the relevant Romanian Immigration Office in view of obtaining a temporary residence permit. As opposed to short-stay visas, the reasons for which long-stay visas can be issued include 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 Centre for the Promotion of Trade and Foreign Investment. 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 continuously and legally reside 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 twelve consecutive months term of absence, excepting the situation in which, during this term, a temporary residence permit for a state member of the European Union was issued, (iv) in the case of a minimum of six consecutive years of absence from the Romanian territory.
ILN Corporate Group – Establishing a Business Entity Series
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