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Future Move to Romania

coljfpa

Hi All,

We live in Alabama currently and are considering a retirement in Romania within 6 years. My wife is Romanian and also a US citizen; my brother-in-law and his family live in Sector 6, Bucharest. I enjoyed my work in Romania from October 1995 to January 1998 and am looking forward to a real life there. What are the tax laws concerning a new life there? Thanks. :cool:

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Crossover

If I were you I wouldn't worry much about taxes to pay in Romania in 2015!The law is likely to change several times by that time.
Taxes in Romania are nowhere near those in US,UK or other first world countries.
For instance,I have a coutryside house(6bedrooms etc)with 4 acres of land at one hour drive from Bucharest..last year my tax on that property&land was around $300.However the taxes on the agriculture land are likely to increase sometimes in the next decade.
When it comes to other type of taxes:
if you are an employee the employer will automatically deduct from your salary health insurance,+others, no need to worry to file taxes at the end of fiscal year.

Be aware that if you are a foreign national willing to buy property in Romania you'll have to register as a small business in order to do so..and you'll be taxed accordingly,as different taxes apply to businesses.But if your wife is a Ro citizen you should be fine.
It would also be wise to buy your retirement property now while the market is down as you have plenty bargains around.
Good luck!

coljfpa

Hi Crossover,

Thanks for the reply. No need for any work permits or taxes on income ... we will be retired. I was more concerned on any income tax required on non-Romanian pensions. Is there any? Thanks.