Official Language: Romanian
Religion: No official religion, ~92% Christian (81% Orthodox Christians)
Government: Unitary semi-presidential republic
- ‘Semi-presidential’ means executive functions are held by both the president and other governing bodies.
Legislature: Parliament; Upper House: Senate, Lower House: Chamber of Deputies
Area: 238,397 km2
Location: Southeastern Europe, bordering the Black Sea
Climate: Temperate and continental; With four distinct seasons
Geography: Roughly equal distribution of mountains, hills, and plains
- The Carpathian Mountains take up a majority of the center of Romania.
- They have one of the largest areas of undisturbed forest in Europe, covering nearly 27% of the country.
- GDP: $731.466 billion
- Currency: Romanian leu (RON)
- They are expected to adopt the Euro as official currency in 2024, after joining the EU in 2007.
- The largest Romanian companies are primarily in the auto/gas industry.
- Their main exports are cars, software, clothing/textiles, machinery, electrical & military equipment, raw materials, chemicals, pharmaceuticals, and agricultural products.
- Romania’s largest trading partners are Germany and Italy.
- Government intervention in the Romanian economy is less than in other EU economies, due to privatizations and reforms that occurred in the late 90s and early 2000s.
- According to a 2019 World Bank report, Romania ranks 52nd of 190 economies for ‘ease of doing business’.
- While the language of business is usually Romanian, many people also speak other major European languages like English, French, and German.
- Upon meeting, it is customary to shake hands with business partners. Not doing so would be seen as an insult.
- Romanian business culture is both formal and hierarchical. Meetings usually follow a strict protocol. Expats should wait to be seated and only take off their jackets after the most senior person in the room does.
- Business dress code varies from formal to business casual depending on the setting, with conservative dress encouraged in formal settings.
- Gift-giving is polite and a fairly common practice among business partners. If you are invited to a colleague’s home, this is a special honor and a gift of wine or chocolates is customary.
- As of 2005, Romania has a flat tax of 16% for both personal income and corporate profits. This is one of the lowest tax rates in the EU.
- In the past, Romania has attempted to join the Schengen Area. As of August 2019, their acceptance by the European Council into the Schengen Area has been complicated by legal matters.
History & Culture:
- The name ‘Romania’ derives from the Latin romanus meaning ‘of Rome’ or ‘Roman’.
- Romania is the largest country in Southeastern Europe.
- Peștera cu Oase (‘Cave with Bones’) in Eastern Romania, is the site of the discovery of the remains of the oldest known Homo sapiens in Europe - they are from around 40,000 years ago!
- Bran Castle is one of the most famous attractions in Romania, as it is believed to be Dracula’s castle.
- Romania and Moldova share the same language and a common history. There was a movement in the early 90’s for unification of the two countries. And later, a movement to preserve Moldovan independence.
- Romania joined NATO in 2004 and became a full member of the European Union in January 2007.
- The Romanian diaspora is the 5th highest emigrant population in the world, with an estimation of over 3.6 million people as of 2016.
Romania - Wikipedia
Romania - Britannica
Doing Business in Romania - Expat Arrivals