An Apartment in Constanța as a Source of Income: What Structure Makes the Rental Work
An apartment in Constanța as a source of income: what structure is needed for the rental to work
An apartment in Constanța turns capital into a European Union asset: the city’s market has passed the mark of 2,000 euros per square meter, and housing demand is sustained by the port, universities and the resort season.
Yet the income is created not by the purchase itself but by the ownership structure — whose name the property is registered in, which route the money took and how the rental is formalized.
You can take part in the deal in person, under a power of attorney or through a management company — you do not have to come to Romania. Below is what a working structure consists of, how it is put together step by step, who runs the property after the purchase and what to do if the apartment has already been bought without one.
DOES AN APARTMENT IN CONSTANȚA WORK AS A SOURCE OF INCOME
Yes: Constanța is one of the few cities in Romania where an apartment gets tenants from several independent sources at once, so a legally formalized property works all year round. The port and logistics, universities, IT and services create constant long-term demand, and Mamaia adds a seasonal layer of short-term seaside rentals — operationally it is run by the management company.
Nearby, a 2.5 billion euro construction project is underway: after its expansion, the Mihail Kogălniceanu air base is becoming the largest NATO base in Europe, designed for 10,000 military personnel — together with families and contractors, this is a separate stable flow of tenants.
Market entry: a 2-room apartment costs approximately 75,000–110,000 euros depending on the area and proximity to the sea. There are 2 income models: an annual contract or a seasonal regime — and both work only within a fully legal structure: a registered contract, a money route the bank can understand, calculated tax.
WHO CAN BUY AN APARTMENT IN ROMANIA WITHOUT BEING AN EU CITIZEN
A citizen of Ukraine can own real estate in Romania — the law distinguishes only the form: a building is available directly, while land requires a structure. Under Law 312/2005, a buyer from outside the EU acquires land only if there is an international reciprocity treaty, and an apartment is legally a building plus a share of the land under the block. That is why, in notarial practice, an individual from outside the EU receives ownership of the apartment itself with the right to use the land share for the lifetime of the building.
Full ownership, including the land, is provided by a Romanian company: an SRL set up in your name acquires the property in full and without restrictions. Which path is right in your case — individual or company — is determined before the deposit: it is the first element of the structure, not a formality.
WHAT THE INCOME STRUCTURE CONSISTS OF AND WHAT DOCUMENTS ARE NEEDED
A working structure consists of 4 elements: the form of ownership, the banking route of the money, a lease agreement registered with ANAF and property management. In terms of documents, the buyer needs an international passport, a Romanian NIF tax number, a power of attorney with an apostille and translation for a remote transaction, and a file on the source of funds: statements, contracts, tax returns.
A Romanian bank checks the origin of money under its own rules, and no one can guarantee its decision — that is why the file is prepared before the deal, not after the bank’s first question.
Registering the lease agreement with ANAF is mandatory: it is what makes the income fully legal — suitable for the bank, a loan and any future status decisions in the EU.
Property management is the 4th element of the structure, and it is covered by the management company. It prepares the apartment for rent on a turnkey basis — renovation, furniture, full fit-out — then moves tenants in and runs the property. Accounting for the rental and for the company is handled by specialized audit firms. The owner is left with reports and income, not operational work.
HOW THE DEAL WORKS AND HOW LONG IT TAKES
The deal goes through 6 steps and usually takes from 4 to 8 weeks from the assessment to the registration of title; the exact schedule depends on the bank and the property. There are 3 participation formats: in person at the notary, remotely under a power of attorney, or through a management company acting under your power of attorney — in all cases the property is registered to you or your company.
Step 1 — a compliance assessment with a written opinion: a recommended bank, a list of documents for the source of funds, the purchase structure and the transaction method. Step 2 — property selection and legal due diligence: Armonia shows options that fit the strategy, Alliance checks the history of the property and the seller. Step 3 — the deposit and the preliminary contract, step 4 — the account and the transfer of funds along the route from the opinion, step 5 — the notarial transaction in the chosen participation format. Step 6 — registration of title in the cartea funciară, the lease agreement and registration with ANAF: from this moment the apartment starts working.
WHAT TO DO IF THE APARTMENT HAS ALREADY BEEN BOUGHT WITHOUT A STRUCTURE
The structure can be put together after the purchase too — in 4 steps and without selling the property. A typical picture: the property is registered however it happened to be, the rental runs without a contract or the apartment stands empty, taxes have not been calculated, and the money took a route that is hard to explain to the bank.
Fixing it takes weeks, while the tax authority’s questions about an unregistered rental cost more than any audit.
Step 1 — an audit: form of ownership, banking history, rental status. Step 2 — legalization: a lease agreement, registration with ANAF, a tax return; an individual pays tax of 10% on 80% of income — effectively 8%, and with net income above 24,300 lei a year the CASS contribution is added. Step 3 — choosing the regime: keep ownership as an individual or transfer the property to an SRL; whether it makes sense is calculated on the numbers, not assumed. Step 4 — integrating the asset into the goal: a fully legal apartment with fully legal income becomes a backup foundation in the European Union, and if EU residence is needed later, the structure is already ready for the file. Handing the property over to the management company also closes the operational gap: move-ins, renovation, fit-out and accounting stop being the owner’s concern.
HOW ALLIANCE WORKS AND WHAT ARMONIA IS RESPONSIBLE FOR
The division is simple: Armonia shows the properties, Alliance protects the money and builds the structure. Alliance handles the strategy, the legal side, the bank, the tax regime, financial monitoring and coordination of all processes — from the opinion to the first rent payment. Armonia, as a real estate agency, selects properties that fit the strategy: area, liquidity, rental potential. We run 2 products: full support of the real estate transaction and obtaining EU residence or citizenship. Everything is official, under a contract that sets out the timelines, the amount and the working procedure; the company’s licenses are publicly available on the website.
WHERE TO START: CONCLUSION AND NEXT STEP
Start with a free compliance assessment — it is carried out before the deposit and does not commit you to anything. You receive a written opinion: a recommended bank, a list of documents for your source of funds, an assessment of the origin, the purchase structure and the transaction method.
The assessment may end in a reasoned refusal — that is also a result: it saves the deposit and months of waiting.
The window is open now: the Constanța market is growing, and the same apartment will cost more in a year. Write to us — we will review your situation.
Can you buy an apartment in Constanța without leaving Ukraine?
Yes: the power of attorney with an apostille, the account, the notary and the registration of title are all handled without you having to come — under a power of attorney to a representative or to the management company. Alliance coordinates every step, and Armonia receives the property on site.
Who takes care of the apartment and the accounting after the purchase?
The property is fully run by the management company: preparation for rent, renovation and furniture, move-in and day-to-day matters. Accounting is handled by specialized audit firms. The format works for both annual rentals and the seasonal regime.
Is it mandatory to open an SRL company to buy?
No, not always: the form of ownership depends on the property, the bank and your goals. A direct answer to this question is given by the compliance assessment before the deposit.
What happens if the bank does not approve the source of funds?
The bank makes its decision independently, and its approval cannot be promised. That is exactly why the assessment is carried out before the deposit: if the route does not come together, you find out before you have paid any money.