In brief
According to the foreign direct investment report of the National Bank of Romania (BNR), prepared with the National Institute of Statistics, the stock of direct investment whose ultimate investor is Israeli reached EUR 2,296 million at the end of 2024, almost four times the EUR 587 million in 2019, and about 1.8% of total foreign investment in Romania. By country of the immediate investor only, the figure for Israel is EUR 643 million, because a large part of the investment passes through holding companies in other countries. The number of Israeli-owned companies in the Trade Register is reported in the Romanian press, but we were unable to verify it in the official source.
Key takeaways
- 1The stock of direct investment by Israeli ultimate investors in Romania: EUR 2,296 million at the end of 2024 (BNR).
- 2The stock rose almost every year since 2019, when it stood at EUR 587 million.
- 3By country of the immediate investor, Israel appears with only EUR 643 million; the difference reflects investment through holding companies in other countries.
- 4In BNR's ultimate investor table for 2024, Israel appears after Turkey and before Cyprus.
- 5A figure of 4,404 companies with Israeli shareholders in the first half of 2024 (3,807 active) was published by the newspaper Bursa in the name of the Trade Register, and has not been verified against the ONRC.
How many Israeli companies operate in Romania, and how much Israeli money is invested there? The question comes up among investors, developers and also Romanian partners considering working with an Israeli party. The answer depends on the source, because each body counts something different. This guide presents the data we were able to verify in an official source, flags what was not verified, and explains how to read the numbers. It is current as of November 2026.
How much have Israelis invested in Romania according to the central bank?
According to the report "Foreign Direct Investment in Romania in 2024" of the National Bank of Romania (BNR), based on a survey conducted together with the National Institute of Statistics (INS), the stock of direct investment whose ultimate investor is Israeli reached EUR 2,296 million at the end of 2024. The total stock of foreign direct investment in Romania at that date was EUR 125,035 million, so Israel's share was about 1.8%.
| End of year | Stock - Israeli ultimate investor (EUR million) | Stock - immediate investor from Israel (EUR million) | Total foreign investment in Romania (EUR million) |
|---|---|---|---|
| 2019 | 587 | 331 | 88,304 |
| 2020 | 1,025 | 338 | 90,773 |
| 2021 | 1,492 | 491 | 100,264 |
| 2022 | 1,482 | 533 | 107,944 |
| 2023 | 1,784 | 526 | 118,231 |
| 2024 | 2,296 | 643 | 125,035 |
Source: BNR, Table 10 (by country of the ultimate investor, 2019-2024) and Table 11 (by country of the immediate investor, 2014-2024). According to the report, the stocks for 2021-2022 were revised in September 2024 as part of a methodological update. In the immediate investor table, the figure for Israel in 2014 was only EUR 100 million.
The "immediate investor" is the company that directly holds the Romanian company - for example a holding company in the Netherlands or Cyprus. The "ultimate investor" is whoever stands at the end of the ownership chain. When an Israeli investor holds a Romanian company through a European holding company, the investment is recorded under Israel only in the ultimate investor table. This explains the gap between EUR 643 and 2,296 million.
Where does Israel stand relative to other countries?
In BNR's ultimate investor table for 2024, Israel appears after Turkey (EUR 2,521 million) and before Cyprus (EUR 2,036 million). Ahead of Israel in the table are Germany, Austria, France, the USA, Italy, the Netherlands, Switzerland, the Czech Republic, Greece, the United Kingdom, Belgium, Hungary and Turkey, plus a row of investments by Romanian residents themselves returning via abroad. In other words, Israel is 14th among the foreign countries in the table.
The report also notes that among countries outside the European Union, the main investment partners were Switzerland, the United Kingdom, Turkey, the United Arab Emirates, the USA, Israel and Japan. Most foreign investment in Romania, according to the report, comes from EU countries.
- Geographic concentration: according to the report, the Bucharest-Ilfov region accounted for 65.4% of all foreign investment at the end of 2024. The figure is not broken down by investor country.
- Sectors: of all foreign investment, 37.1% is in industry, 17.3% in construction and real estate transactions and 17.2% in trade. The report does not publish a sector breakdown by country, so this split should not be attributed to Israeli investment.
- What is not measured: the data refers to direct investment in companies. An apartment bought directly by a private individual in their own name is not necessarily part of these figures.
How many Israeli-owned companies are registered in Romania?
The honest answer: we were unable to verify a number in the official source. The Romanian Trade Register (ONRC) publishes monthly statistics on companies with foreign participation in their capital, by investor country, but its website was not accessible for checking at the time this guide was prepared. So the following figures are presented only in the name of the source that published them.
| Source | What was reported | Date of the figure | Verification status |
|---|---|---|---|
| Bursa newspaper (October 24, 2024), citing the National Trade Register Office | 4,404 companies with Israeli shareholders, of which 3,807 active; the rest dissolved, insolvent or with suspended activity. In Bucharest 2,859, in Ilfov 486, in Brașov 302 and in Iași 129 | End of the first half of 2024 | Not verified against the ONRC |
| Adevărul (October 2006), citing the Romanian Agency for Foreign Investment (ARIS) | 2,982 joint companies with Israeli participation, and direct investment of more than EUR 24 million | Not stated; before 2006 | Historical figure, not verified |
Various reports in the Romanian media over the years present very different counts of "companies with Israeli capital". Possible reasons: a cumulative count of all companies registered since 1991 versus active companies only, classification by the investor's place of domicile rather than citizenship, and investment through holding companies in other countries. Before quoting a number, check exactly what it counts.
How should ONRC registered capital data be read?
Even when ONRC's registered capital figure is available, it measures something different from investment. Registered capital is the amount set in the incorporation documents, and it is sometimes very low relative to the activity. A real estate project company can be registered with small capital and finance the project with shareholder and bank loans, which are not included in the capital.
| Measure | Who publishes it | What it counts | Main limitation |
|---|---|---|---|
| Number of companies with foreign participation | ONRC | Companies registered with a foreign shareholder, by investor country | Does not always distinguish between an active company and a struck-off one; does not see ownership through a third country |
| Registered capital (subscribed capital) | ONRC | The nominal capital according to the company's documents | Does not include shareholder loans, retained earnings or bank financing |
| Stock of direct investment (ISD) | BNR with INS | Equity and credit between related companies, by immediate and ultimate investor | Published annually with a delay of about a year; does not include assets held directly by private individuals |
What is known about trade between Israel and Romania?
Official data on trade in goods between Israel and Romania is published by the Israel Central Bureau of Statistics, in its foreign trade by country publications, and by the National Institute of Statistics in Romania. We were unable to open the latest figure in an official source at the time this guide was prepared, so we do not present a number. The commercial department of the Embassy of Israel in Bucharest is a point of contact for up-to-date information on trade and business contacts.
What is the practical meaning for an Israeli company considering Romania?
- There is an existing Israeli business community: BNR's data shows Israeli investment growing over several years. This does not guarantee the success of any particular project, but indicates that there are local service providers familiar with Israeli clients.
- The structure affects the statistics and the tax: investing through a holding company in a third country changes the investor classification, and above all the tax on dividends and the reporting in Israel. See Corporate tax and transferring profits to Israel from Romania.
- Vetting a partner: when a Romanian party presents "experience with Israeli investors", check the companies themselves in the register, not the general figure.
- Do not rely on numbers from presentations: a number not quoted with a source and date is not a basis for a decision.
How can you check the data yourself?
- BNR: the annual report on foreign direct investment in Romania is published on the bank's website, with tables by country of the immediate and ultimate investor.
- ONRC: the statistics page on the Trade Register website publishes monthly files on companies with foreign participation, by country.
- Open company register: the ONRC publishes on the government data portal (data.gov.ro) files of the registered companies, updated every few weeks.
- A specific company: a registration extract (certificat constatator) from the ONRC shows the shareholders and directors of a specific company.
- Trade: the Israel Central Bureau of Statistics and the National Institute of Statistics in Romania.
What to check before using the numbers, and how we accompany it
General numbers are suitable for understanding the market, not for deciding on a transaction. Before entering Romania, check the specific companies and people you work with, and choose a holding structure that suits both Romanian law and tax in Israel. We assist with legal checks of partners and companies in Romania through the official registers, choosing the holding structure and coordinating with lawyers and accountants in Romania and Israel. The office is in Ness Ziona, and meetings in Bucharest are possible by prior arrangement.
This guide is general information as of November 2026 and is not legal, tax or investment advice. The statistical data is presented in the name of its sources, and may be updated or corrected by the bodies that published it.
More on this topic: An Israeli company doing business in Romania · Setting up an SRL in Romania · The Romanian property market 2026 in data · Doing business with an Israeli partner
Frequently asked questions
How much have Israelis invested in Romania?
According to the National Bank of Romania, the stock of direct investment whose ultimate investor is Israeli was EUR 2,296 million at the end of 2024, about 1.8% of total foreign direct investment in Romania.
How many Israeli companies are there in Romania?
We did not find a figure that can be verified in an official source. The newspaper Bursa published in October 2024, citing the Trade Register, 4,404 companies with Israeli shareholders at the end of the first half of 2024, of which 3,807 were active. Other reports present different numbers, so it is worth checking with the ONRC.
Where does Israel rank among foreign investors in Romania?
In BNR's ultimate investor table for 2024, Israel appears after Turkey and before Cyprus, 14th among the foreign countries in the table.
Why is there a gap between the Israeli investment figures in the different tables?
Because some Israeli investors hold Romanian companies through holding companies in other countries. By country of the immediate investor, EUR 643 million was recorded for Israel in 2024, and by country of the ultimate investor EUR 2,296 million.
Where can ONRC statistics on foreign companies be found?
On the Romanian Trade Register website (onrc.ro), on the statistics page, where monthly files on companies with foreign participation in their capital by investor country are published.
Does a Romanian company's registered capital reflect the investment in it?
Not necessarily. Registered capital is the nominal amount set in the company's documents, and it is sometimes very small relative to the activity, which is financed by shareholder loans and bank credit.
How do you check who the shareholders of a company in Romania are?
Order a registration extract (certificat constatator) from the ONRC Trade Register, which shows the company's shareholders, directors and legal status.
Read next · 10 min readForming a Company in Romania as an Israeli: Setting Up an Operating SRL at the ONRC, Capital, CAEN Codes, Micro Regime, VAT and BankHow an Israeli forms an operating company in Romania in 2026: SRL steps at the ONRC, 500 lei capital, registered office, UBO, CAEN codes, 1% micro regime, VAT.Read the guideSources
- BNR - Investițiile străine directe în România în anul 2024 (Tables 10 and 11)
- Bursa - How does the war in the Middle East benefit our economy? (24.10.2024)
- Adevărul - Investiţiile israeliene domină în imobiliare (2006)
- data.gov.ro - ONRC datasets
- ONRC - Statistici
- Embassy of Israel in Romania - Commercial Department
