Buyers guide
Process to buy a Property in Romania
You will find below a brief summary of the buying process in the following step-by-step scheme.
1. Meeting
Property abroad – Ltd will help you find your ideal property in Romania: Romanian homes or villas, resale or off-plan developments, plots of land.
First step: we generally meet in the UK to understand your needs.
The meeting gives us the opportunity to present Romania, Romanian Properties Ltd, as well as the legal aspects linked to the purchase of a property in Romania.
We can either:
- receive you in our offices in Northwood;
- arrange a mutual place to meet with you in the Greater London area;
- arrange a telephone call to discuss you needs.
If we do not have the property of your choice, Property abroad – Ltd will endeavour to find the property that you are looking for.
2. Property Selection
Once you have found one or more properties which you are interested in, you then have the choice between:
1/ Reserving the property through us, without going to Romania
2/ Going to Romania to assess the properties and make your final decision.
We offer various packages of viewing trips which provide a perfect way to not only see your chosen property portfolio but also to take in the country itself (tour cost depends on your requirements).
Alternatively, we can meet you in Romania in the area of your choice to present you with our selection of properties which match your criteria.
3. Reservation
Once you have decided which property you wish to buy, you can reserve* your property with us by post or e-mail.
The property of your choice will be reserved for a duration of 15 days.
In that period you will choose a lawyer and/or a solicitor - this will be discussed during our first meeting.
4. Company formation
We advise our clients to set up a Romanian company in order to purchase a property in Romania.
Buying through a company offers the main advantage of not paying the VAT, and it costs only 700 euros to create the company.
You can set up a company without going to Romania. You will be requested the following details:
- 3 proposals of company names, e.g your name, your initials, your last name, etc. Depending on company name availabilities, the trade register will choose one of the 3 names as your company name.
- Company activity. The activity of the company is usually "Real estate" but you can also add some other activities should you intend to trade in Romania in the future.
- Capital: minimum capital is 80 euros.
- Company headquarters: needs to be in Romania. It is usually the address of the property that you purchase.
- Copy of your passport
- Your parent's names
- If you do not travel to Romania, a power of attorney will be required to allow your lawyer in Romania to open a bank account and to set up the company on your behalf.
You can also visit our information page containing all the legal information when purchasing a property in Romania: Romanian homes, villas, apartments or plots of land.
5. Final Contract
Depending on your requirements, we or your selected lawyer/solicitor will send you the Final Contract - details about the exact process during our first meeting.
The final step is the transfer of funds to the seller.
* Please note that the process above excludes properties bought off-plan.
Please contact us for any questions regarding our off-plan properties and process.
6. Mortgage
We assist our clients when applying for a mortgage to help financing their property in Romania, either residential homes or off-plan on completion.
Please refer to our dedicated page should you want more information on how to get a mortgage in Romania.
You will find below a brief summary of the buying process in the following step-by-step scheme.
1. Meeting
Property abroad – Ltd will help you find your ideal property in Romania: Romanian homes or villas, resale or off-plan developments, plots of land.
First step: we generally meet in the UK to understand your needs.
The meeting gives us the opportunity to present Romania, Romanian Properties Ltd, as well as the legal aspects linked to the purchase of a property in Romania.
We can either:
- receive you in our offices in Northwood;
- arrange a mutual place to meet with you in the Greater London area;
- arrange a telephone call to discuss you needs.
If we do not have the property of your choice, Property abroad – Ltd will endeavour to find the property that you are looking for.
2. Property Selection
Once you have found one or more properties which you are interested in, you then have the choice between:
1/ Reserving the property through us, without going to Romania
2/ Going to Romania to assess the properties and make your final decision.
We offer various packages of viewing trips which provide a perfect way to not only see your chosen property portfolio but also to take in the country itself (tour cost depends on your requirements).
Alternatively, we can meet you in Romania in the area of your choice to present you with our selection of properties which match your criteria.
3. Reservation
Once you have decided which property you wish to buy, you can reserve* your property with us by post or e-mail.
The property of your choice will be reserved for a duration of 15 days.
In that period you will choose a lawyer and/or a solicitor - this will be discussed during our first meeting.
4. Company formation
We advise our clients to set up a Romanian company in order to purchase a property in Romania.
Buying through a company offers the main advantage of not paying the VAT, and it costs only 700 euros to create the company.
You can set up a company without going to Romania. You will be requested the following details:
- 3 proposals of company names, e.g your name, your initials, your last name, etc. Depending on company name availabilities, the trade register will choose one of the 3 names as your company name.
- Company activity. The activity of the company is usually "Real estate" but you can also add some other activities should you intend to trade in Romania in the future.
- Capital: minimum capital is 80 euros.
- Company headquarters: needs to be in Romania. It is usually the address of the property that you purchase.
- Copy of your passport
- Your parent's names
- If you do not travel to Romania, a power of attorney will be required to allow your lawyer in Romania to open a bank account and to set up the company on your behalf.
You can also visit our information page containing all the legal information when purchasing a property in Romania: Romanian homes, villas, apartments or plots of land.
5. Final Contract
Depending on your requirements, we or your selected lawyer/solicitor will send you the Final Contract - details about the exact process during our first meeting.
The final step is the transfer of funds to the seller.
* Please note that the process above excludes properties bought off-plan.
Please contact us for any questions regarding our off-plan properties and process.
6. Mortgage
We assist our clients when applying for a mortgage to help financing their property in Romania, either residential homes or off-plan on completion.
Please refer to our dedicated page should you want more information on how to get a mortgage in Romania.
