Under a recent amendment to Government Emergency Ordinance (OUG) 194/2002 on foreigners in Romania, the deadline for foreign nationals applying for a long-stay visa for employment in Romania has been extended from 60 to 180 days of the date the employer get the employment permit."On May 5, Government Emergency Ordinance (OUG) 59/2022 amending legislation regarding foreigners in Romania entered into force. Thus, amendments were made to OG 25/2014 on the employment and secondment of foreigners in Romania to create the option of submitting applications for the issuance of employment/secondment approvals by all local immigration office," the General Immigration Inspectorate (IGI) reported on Friday.On May 5, OUG 59 of May 4, 2022 amending legislation regarding foreigners in Romania was published in Official Journal 450/2022. The ordinance facilitates the issuance of employment/secondment approvals and visas for work purposes and allow the hiring in a shorter time of foreign workers as part of the contingent of new foreign workers admitted to the labour market in Romania."Lifting the COVID-19 pandemic restrictions in Romania has led to an increase in the number of applications for the issuance of employment/secondment approvals, which made it impossible for the immigration offices to satisfactorily manage the applications submitted. At the same time, in the current year, under OG 132/2022 establishing a quota of newly admitted foreign workers on the labor market in 2022, a contingent of 100,000 newly admitted foreign workers was established, up 100% over the previous year."The provisions in the new piece of legislation are designed to streamline the application management by creating a unitary workflow nationwide, thus contributing to the support of foreign citizens gainfully employed and for employers hiring newly admitted foreign workers, shortening the waiting times for submitting applications and getting to work in a shorter time.
T2Y Capital, a financial investor specializing in growth capital with a focus on the energy sector and adjacent industries, announced it was investing in Prime Batteries Energy Holding, thus becoming the second-largest shareholder of the Romanian company with headquarters in Bucharest. T2Y Capital will take a seat on the Board of Directors and support Prime […]
More than half of Romanians (58%) are concerned about the country's economic situation, and inflation remains a central concern for one in five respondents to a survey conducted at the European level by Ipsos for ING Group in May-June 2025. The research analyzed the main concerns of Romanians in the context of the current economic […]
Vlad Micu has been appointed general manager and chairman of the Board of Directors of INNO Investments, a company of the Banca Transilvania Group specializing in the management of alternative investment funds. In his almost 30 years of experience, he has held various management positions in corporate banking, investment banking, trade finance, and business development […]
Measured in local currency, the wealth of citizens in Hungary increased the most in Europe last year, followed by Lithuania and Sweden. In Romania, the median wealth increased by 9.1%, but the long-term average wealth trend decreased, according to a recent report by the multinational investment bank UBS, cited by Euronews. Net wealth per citizen […]
Picture your ideal event - a special gathering that’s personal, elegant, and deeply memorable. Now imagine achieving this effortlessly, in a location meaningful to you, anywhere in Bucharest. JW Marriott Bucharest Grand Hotel brings its celebrated five-star hospitality beyond traditional boundaries, making truly refined occasions possible wherever your imagination takes you. At the heart of […]
The INVL Renewable Energy Fund I, managed by INVL Asset Management, signed a EUR 29.3 million loan agreement with Kommunalkredit Austria AG (Kommunalkredit). The loan will be used to finance the construction of solar power plants with 71 megawatts (MW) of capacity in Romania. This is the second loan by Kommunalkredit to the fund. In […]
