VAT Issue

Discussion in 'Romania property' started by TylerD, Jun 30, 2008.

  1. TylerD

    TylerD New Member

    Can anyone tell me where buyers now stand on reclaiming the VAT from a property purchase in Bucharest? I beleive is can be quick and easy in areas such as the coast but in the capital it may take some time and alot of red tape!!

  2. David howe

    David howe New Member

    I take it your agent has told you this? If he has put you in a company to buy he is in my opinion very lacking in knowledge.

    It does not matter where you have bought in Romania, getting the Vat back will not be . No government anywhere likes to give out money and will hold onto it for as long as possible to your detriment.

    Feel free to contact us direct if you need assistance.

    David Howe LLB. LLM.
  3. No sane person would invest anywhere on this planet without knowing the fiscal issues regarding his investment. If fiscally it is in your detriment (and it is) to invest in Romania by forming a company, then you should simply look for the alternative. It is ridiculous to own a company in order to buy a flat and no law in Romania prevents you from owning your flat as a private person. Therefore talk to a fiscal consultant before making the investment.
    Whatever your agent tells you don't forget, he is only a real estate agent who is selling you something, not a lawyer, not an economist to teach you which is the best way for you. As any emerging markets Romania doesn't have yet a regulated system regarding who can become an agent, what an agent can do for you, what services he can offer and how credible he must be by law.
    So my advice is (and you can do as you please, but when already 2 people tell you the same thing, you should consider their opinions) seek independent legal and fiscal advice before buying.
    Transylvania Investment also provides these services. Contact us if you wish to know more.

    Diana Marinescu
    Managing Partner Transylvania Investment


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