Summary

Romanian law (Government Emergency Order No. 92/1997) provides for national treatment of foreign investors with regard to the establishment rights of companies. Foreign investors are generally allowed to invest in any sector open to private domestic companies. Thus, with the exception of the domestic and international air transportation industries, all sectors covered by the Investing Across Sectors indicators are fully open to foreign equity ownership. Foreign capital participation in the 2 aforementioned sectors is limited to a maximum of 49%, as is the case in other European Union countries. This restriction does not apply to investors from countries of the European Economic Area (EEA).