Romanian Property

Can Foreigners Buy Land In Romania?
By Cristian Stoicescu

The article 4 of Real Estate Law translates: The citizen of a member state without legal residency in Romania, the stateless non-resident having residency in an European Union country and the non-resident foreign legal entity (company) incorporated per the stipulations of the EU legislations, are able to gain ownership on land for secondary residences, respectively secondary headquarters, in a term of 5 years after Romania has joined the European Union.

LEGAL ADVICE IS HIGHLY RECOMMANDABLE

Legal aspects:

Under current legislation foreign investors cant buy land until 2012. In respect to building structures, the relevant law does not provide any special conditions for the acquisition of ownership rights there on. Foreign citizens may freely acquire ownership rights over building structures, whereas for the appurtenant land a superficies right can be established (the right to use the land) as long as the building structure exists.

Farm land and forest can be bought by foreigners only after 7 years from EU accession A foreign citizen can buy land if obtains residency.

A Romanian registered company own by foreign a investor can buy and own land and other properties.

The non-EU-foreign-citizen is able to own real estate properties in Romania in conditions of reciprocity based only on international treaties between the countries; however they cannot acquire ownership of Romanian land in more favorable conditions than citizens of the European Union.

So it is possible for any foreign citizen to form a Romanian company and own every type of real estate properties.

The most common type of company is the Limited Liability Company (Societate cu raspundere limitata SRL)

The minimum social capital of a SRL company in Romania is 200 RON and there is a maximum of 50 shareholders. One other characteristic is that any person or legal entity (Romanian or foreign company) can only be sole shareholder in one company.

http://www.RomaniaPropertyABC.com offers independent informations about Romania Property Market.

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Dracula's Castle For Sale
By Victor Marcu

The political changes in East Europe have led to interesting events for investors, especially for those who are in vesting in Real Estate. Romania, the last East European Country that joined to European Union, surprised the world of investors generating a lot of opportunities, unexpected by Real Estate Investors.

Many of such interesting events happened before the entrance in European Union, just after leaving the communist block, in 1989.

First major event in field of Real Estate was the selling of all apartments in the property of Romanian State, to the Romanians who lived as renters in those apartments. It was a huge number, estimated at 2 million apartments. This fact led to the growing of the offer of apartments for sale, at very low prices, beginning from 1000 $. The prices have grown from then, 100 times.
Second major event was the returning of the properties confiscated by communist regime from there owners. It was a number of hundreds of thousands of apartments, that made the offer at sale to grow, but this time the prices were beginning from 10,000 $, being 5 years later than 1-st event.
The last event was a solution that Romanian state tried to give in return of confiscation of factories and little businesses in all sectors of economy. Even now, this is solved only partially, and is possible never to be solved. In this third part, enters the properties of former Romanian King, Michael of Romania. He still lives, was welcomed back in Romania, and a big part of His properties were given back. One of these properties is Royal Summer Castle, in the little village of Bran, in the region called Transylvania, a Castle over named Dracula's Castle.

Now, The DRACULA's CASTLE is FOR SALE. The Romanian Royal Family is definitely intending to sell the castle at a price bigger than 60Mil Euro. In the process of selling is interfered the City Hall of the town Brasov, the region's capital. But if an investor will offer more than the City Hall is able to invest, then, the castle will be sold at the best price.

To see more details about the castle and the region, open our sites: http://www.romanianproperties.net/ or http://imobiliare-vittorio.ro/

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Romanian Deputies Were Against The Sale Of Dracula's Castle
By Iuri Tarabanov

The actual owner of Draculas Castle intends to sell it, and Romanian deputies are totally against. The castle build in the 14th century was a state property. However last year the castle was handled to Dominic Gabsburg, which is an architect from New York and the descendant of countries ex-ruler.

Dominic Gabsburg declared that he intends to sell the castle. The architects desire produced a misunderstanding for Romanian deputies that declare that the handing on of the castle to Dominic Gabsburg was illegal. In turn the New York architect insists on the opposite and menaces to prosecute with an legal action in the case that someone would try to deprive him of his rights.

According to the legend, the prototype of Dracula is the prince Bloody Vlad. As the legend says prince Vlad spent a night in the castle that Dominic Gabsburg now owns. The hypothesis that Dracula once lived in that castle contributes to the development of Romanian tourism industry, according to the opinion of Romanian deputies. Annually the castle is visited by 450 thousand of tourists.

Earlier Dominic Gabsburg proposed to the state to buy the Castle for 78 million dollars. However the Romanian authorities considered it to be a raised price and rejected the offer. At the same time in the Romanian Parliament began to declare that the decision of handing on the castle to Dominic Gabsburg was a wrong one.

The deputies remind that Dominics Gabsburg Family was expelled from the Castle after the Second World War, and that is why the handing on of the castle to the New York architect must be prohibited. Reacting to these declarations, Dominic Gabsburg told by the means of his lawyer that he will lodge a suit of 200 million dollars if he was deprived of his rights.

Iuri Tarabanov writes about interesting travel experiences. His Travel site is http://www.travelime.com

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Romanian Properties - Make 414% Profit Guaranteed by the Experts
By Andrew Herbert

If you have ever heard about the amazing cheap Romanian Properties market and ever dreamed about making enormous amounts of money from a small financial outlay, then this article might just be right up your street.

Like with all property market investments, serious money can be made if you find the right location at the right price. This is really a no brainer, but the hardest part of making money from property is finding the right location and a seriously low price to start with.

The Secrets Out!

Recently Channel 4 television broadcasted a popular programme called the Top 20 places in the world to make money from which was a special edition programme from the programme a place in the sun. The experts on this programme clarified that you can make 414% profitable return on a cheap outlay as small as £6000 in less than three years from Romanian Propertys.

Romania was voted number one in the world to make serious money from property investment if done so now or early next year. These predictions were made by expert leading property investment agencies who look for the next profitable property markets in the world

Why before 2007 you may ask?

Next year, Romania are included into European Union which historically has seen in other European countries entering into EU unbelievable rises in property prices reaping amazing profit for any investor getting in on this once in a lifetime opportunity.

Romania as a country is still relatively poor by UK standards, this is why propertys are so cheap still. An average sized property in the beautiful Romanian countryside can still be purchased today for £6000. With some minor modernisation carried out utilising the cheap building force and materials can be achieved for an average of an additional £3000.

What you will then have as a ready to sell to the UK Market investor a great holiday home or second property for living in or renting out which reaps great returns. An average priced, modernised property in Romania now sells for approx £40,000 plus to the overseas market.

£40,000 by todays standards is still cheap for UK investors looking for a holiday home or permanent residence which is only three hours away by plane. At present the Romanian people generally cannot afford to purchase property of any condition but the EU inclusion will set to change this as mortgages will be offered for the first time in Romanian history and thousands of Romanian people will be actively seeking out suitable propertys for sale in the near future.

This will also add weight to the property market pushing prices higher reaping you even greater profit returns on your initial investment.

With the Romanian propertys market so cheap at present and the strong investment interest already shown by UK residents and in the near future, Romanian people will be looking for property to buy themselves, Romania is an amazing opportunity for making serious money from which should not be missed.

For more information and expert advice tips on sourcing Romanian properties, click here for our new site =>Romanian propertys

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Shopping in Romania - A Worthwhile Experience
By Sumit Sharma

Visiting Romania is always worthwhile whether you talk of attractions, natural beauty, modern amenities, nightlife or shopping. You have many an options to shop around in different places of the country. However, talking about one of them will give you fair idea of what sort of shopping Romania avenues are there to be exploited. Let's take Bucharest for this purpose.

If you have landed in Bucharest especially for shopping, you might have to be ready to pay a hefty bill as the city normally makes the shoppers loose their pocket. However, this city gives you numerous options to have a wonderful experience of shopping some unique things for your dearest ones. You can buy souvenirs for that special one who demands you to bring something Romanian. A few ideas regarding that are furnished here.

Districts and streets of Bucharest featured in Romanian monopoly is an excellent thing you can gift someone. It costs only around 60 lei and is available in toy and book stores. For buying Romanian folk costumes and souvenirs, you can expect Bucharest to feature a good collection of handcrafts shops. To find the best collections of folk costumes, shop of the National Peasant Museum is probably the best place in Bucharest.

Some visitors are great admirer of Romanian football. And they are always ready to grab the opportunity of getting something as a memory. You can buy the Official shirts of Romania's most successful club. Unofficial versions can be bought from the Steaua shop on Str. Brezoianu. For buying antiques you can head for the shops in the Lipscani area.

http://www.stayresromania.com/shopping-in-romania.html

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About Romania - A Land Of Contrast And Paradoxes
By Gagan Makin

A land of contrast and paradoxes, Romania is a country of numerous characters, community and regions. Not only Constantin Brancusi, Eugene Ionesco, Emil Cioran, Mircea Eliade, and Nadia Comaneci but also Dracula and Nicolae Ceausescu impart a distinct identity to this country. If you have a look at the old world of Romania, Ancient heritages such as paintings, monasteries and churches make it a vast museum to be explored for things. However, the new Romania features modern palaces like that of parliament and subway network in Bucharest. Most of the Romanians have adopted western lifestyle.

Romania lies in South-Eastern Europe. Bulgaria, Yugoslavia, Hungary, Ukraine, Moldavia, the Black Sea surround the country in different directions. Romanian lands expands in 237,500 sq. km. Population is more than 22,788,993 which include mainly countries like Romanians, Hungarian, German and Gypsy minorities. More than half of the Romanian population resides in urban areas. Rural areas also comprise a good proportion of population.

Abundance of folk tales, legends, poetry, music and dance impart a special recognition to this beautiful country. All these qualities have been inherited from generations to generations. Romanian Greek Orthodoxism is predominant as the religion. Other significant denominations include Roman Catholicism, Lutheranism, Calvinism, Greek-Catholicism, Pentecostalism, Baptism, Islamism and Judaism. Romania is country with Republican Government. The capital city is Bucharest. Romanian currency is Leu. The flag contains three vertical stripes of red, yellow and blue colors. December is the national day. Visitors come from other countries as well to celebrate the national day of Romania. This is what Romania is all about and hope that it can help you move across places in the country.

Gagan is an associate editor of Stayresromania. The website offers exclusive information About Romania and Hotels in Romania. We also provide Online reservation for Romania hotels at discount rates. For any feedback and query mail at info@stayresromania.com

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