Full answer
Romania, as an EU and Schengen member (air and sea Schengen from 31 March 2024; land borders from 1 January 2025), offers several routes to legal residence for non-EU citizens — none of them are 'golden visa' but several are accessible for entrepreneurs and skilled professionals.
Investor route (D/AS): Establish a Romanian SRL or branch, invest at least EUR 100,000 in share capital and a credible business plan, and apply for a long-stay D/AS visa at the Romanian consulate. Renewable annually; after 5 years of continuous residence → permanent residence; after 8 → citizenship eligibility.
Work-permit route (D/AM): A Romanian employer secures a work permit (aviz de muncă) from IGI, valid 1 year. The employee then applies for D/AM visa at the consulate. Cap: subject to annual quotas (approx. 100,000 in recent years).
Company-director route (D/SC): For directors of Romanian companies that meet minimum capital + activity thresholds. Lighter requirements than D/AS but tied to actual operational presence.
Family reunification: Once the principal applicant holds residence, spouse and minor children qualify under D/VF visa.
Permanent residence (after 5 continuous years): no integration test in most cases; full work rights. Citizenship after 8 years (4 years if married to a Romanian citizen).