Romania entrepreneur visa for company shareholders (D/AC)

The visa is for foreigners who are or will become shareholders or associates with management or administrative powers in a Romanian company. It is not an investor visa in the sense of buying residence: what Romania assesses is a business plan, through ARICE, which grants a specialised technical opinion on foreign investors’ business plans for the purpose of a D/AC application (Government Decision 153/2023).

Managers who are not shareholders use the “administrator” branch of the D/AS visa, which requires the company to have made a capital contribution or technology transfer of at least EUR 50,000. Short trips to set up the company only need a C/A business visa.

First submit the business plan to ARICE and obtain its technical opinion. With it, register the D/AC application on the e-Visa portal and appear at the Romanian mission responsible for your place of residence with the opinion, a criminal record certificate, travel medical insurance with EUR 30,000 cover and proof of accommodation, paying EUR 300. IGI must give a favourable opinion within 30 days, extendable by 15, before the National Visa Centre approves the 90-day visa.

At least 30 days before the visa stay ends, apply at IGI with the form, passport, ARICE opinion, the company’s registration certificate, articles of association and court decision of incorporation, proof of means (EUR 500 a month for associates, EUR 700 a month for shareholders, for the permit’s validity), proof of lawful use of the registered office and of your home, social health insurance, a medical certificate, a declaration and the fees.

Investment size changes the money test: from EUR 150,000 or 25 jobs the means can be proved with other legal documents, and from EUR 200,000 or 50 jobs no proof of means is needed. Amounts and jobs are counted according to your share in the company.

The right of residence for commercial activities is extended for one year at a time. For each renewal ARICE must confirm that the company has operated according to the business plan, and the territorial labour inspectorate issues a certificate with the number of full-time employees. If you prove investments of at least EUR 500,000 or more than 50 full-time jobs, the extension is for three years.

A shareholder holding a one-year permit can request family reunification for a spouse and minor children. Long-term residence normally needs five years of continuous lawful stay, but IGI lists an exception: foreigners who prove investments of at least EUR 1,000,000 or more than 100 full-time jobs can obtain it without the conditions on length of stay and means.