The Romanian Government has drafted a proposed law to introduce a long-term visa that would allow foreign nationals to enter Romania and work or deliver services remotely to clients and companies located outside of Romania. The draft law was recently introduced to the Romanian Parliament in response to the outbreak of the COVID-19 pandemic, the resulting demand for remote work opportunities worldwide, and recent studies concluding that Bucharest is an attractive location from which foreigners can work remotely, as a result of low cost of living and prices, combined with extensive access to high-speed internet. The law, if passed, would seek to attract foreign spending and investment in Romania, and to counteract some of the negative economic impacts of COVID-19.
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.
