New rules on the right of EU citizens to own land in Romania have been adopted, and will come into force as of the date of Romania’s accession to the European Union.
EU citizens and EU resident companies will be able to own land under the same conditions as Romanian citizens and companies.
Two transition periods have been negotiated by the Romanian government as follows:
- land acquired for the purposes of a secondary residence: 5 years after the accession to the EU
- agricultural land and forests: 7 years
Furthermore, “a most-favored nation” clause provides that no agreement with countries other than EU countries on the matter shall be concluded on terms more favorable than the terms granted to EU citizens or companies. Law 312/2005