In brief
Purchasing a property in Romania does not require a Romanian bank account: payment can be made from an account abroad to the account specified in the contract. A local account becomes necessary in practice when you take a mortgage from a Romanian bank, and it is very useful when you rent out the property or pay local taxes and bills. Opening one requires a passport, proof of address abroad, a fiscal identification number (NIF) that the bank can request itself, and orderly documentation of the source of funds.
Key takeaways
- 1A cash purchase from abroad is possible without a Romanian account, provided the money is transferred only to the account specified in writing in the contract.
- 2With a mortgage from a Romanian bank, repayments are usually collected from an account at the same bank, so the account becomes a practical requirement.
- 3If you do not have a NIF, the bank requests it from the tax authority, and the number is returned to the bank within 5 days under the Fiscal Procedure Code.
- 4Banks are subject to Law 129/2019 on the prevention of money laundering, and the most common cause of delay is an incomplete source-of-funds file.
- 5Deposits are insured by the FGDB up to EUR 100,000 per depositor per bank, regardless of citizenship.
Israeli buyers almost always ask us, already at the first meeting, whether they “must” open an account in Romania. Behind the question there is usually a concern about bureaucracy, additional reporting and money that will remain stuck in a foreign country. The answer depends less on the property and more on what you intend to do with it after the purchase.
Do you need a Romanian bank account to buy a property in Romania?
No. All payments can be transferred from an account in Israel or in any other country, directly to the account stated in the contract. A local account becomes necessary only when it has a function: a loan, a rental or the ongoing management of expenses.
| Your scenario | Local account? | Why |
|---|---|---|
| Cash purchase with funds held abroad | Not required | The transfer is made from your account abroad to the account specified in the contract |
| Purchase from a developer at the construction stage | Not required | Payments go into the project's dedicated account, under Law 207/2025 |
| Mortgage from a Romanian bank | Required in practice | The monthly repayment is collected from an account at the same bank |
| Renting out the property | Highly recommended | Receiving the rent and paying the tax on it are handled locally |
| Property tax, electricity, owners' association | Convenient, not mandatory | These can also be paid from abroad, but locally it is simpler |
When buying from a developer there is a point worth remembering: the money is not supposed to go into “the company's account” in general. Under Law 207/2025, known as the “Nordis Law”, whose rules have appeared since 25.8.2026 in Article 422(6) to (11) of the Planning and Construction Code (Law 169/2026), advance payments go into a dedicated, supervised project account. You will find more on the mechanism in our guide to the Nordis Law.
With a mortgage from a Romanian bank, repayments are usually collected from an account at the same bank, so the account becomes a practical requirement.
How do you obtain a NIF when opening an account?
A Romanian bank will not open an account for a non-resident without a fiscal identification number, the NIF (Număr de Identificare Fiscală, an identification number issued by the tax authority ANAF). You do not need to obtain it in advance: under the Fiscal Procedure Code, when a non-resident applies to open an account, the bank itself applies to the tax authority to have a number assigned, and the number is returned to the bank within 5 days.
If a NIF has already been issued to you, for example in the course of signing before the notary, bring it to the bank and save the wait. Other ways of obtaining the number are described in our guide to the NIF in Romania.
Which documents does a Romanian bank request from a non-resident?
Each bank has its own list, so the binding list should be requested from the bank itself, in writing. Most banks ask for the same items:
- A valid passport.
- Proof of residential address abroad, such as a utility bill or a recent bank statement.
- Details of tax residency and the fiscal identification number in the country of residence; some banks request an official certificate of tax residency.
- An explanation of the purpose of the account: purchase, mortgage or rental.
- Documents on the source of funds, especially for large amounts.
In most cases a non-resident will need to attend a branch once. Online opening exists at some banks, but it is usually intended for Romanian residents, so it is worth checking in advance rather than planning around it.
Why does the bank ask where the money comes from, and how do you prepare?
Banks in Romania are subject to Law 129/2019 on the prevention of money laundering and terrorist financing, so questions about the source of funds are a normal part of the process and not a sign of suspicion. In recent years the level of detail that banks require has increased, and it may include account statements for one to two years, an explanation of each significant deposit, an accountant's confirmation and sometimes also the documents of the transaction from which the money came, for example a contract for the sale of an apartment in Israel.
Start collecting the source-of-funds documents several months before you commit to a property, not afterwards. Present the full picture, including a loan from family members or a gift, with a document recording it. A file that arrives ready shortens the review; a file that is assembled along the way delays payments already fixed in the contract.
In which currency should the account be opened: lei or euro?
In Romania you can hold an account in lei (RON), in euro and in other currencies, and most banks open several currency accounts under the same customer. A practical split that suits most buyers:
- A euro account for receiving transfers from abroad, paying the property price and making mortgage repayments in euro.
- A lei account for local expenses: property tax, electricity, gas and owners' association fees.
The National Bank of Romania (BNR) publishes an official reference exchange rate every day. Compare the rate the bank gives you on conversion with it: the gap between the two is often the real fee, and it accumulates over years of payments.
How well protected is money in a Romanian account?
The Bank Deposit Guarantee Fund in Romania, the FGDB, insures deposits up to EUR 100,000 per depositor per bank, in any currency, regardless of the depositor's citizenship or residence. This is the uniform ceiling in the European Union.
According to the FGDB, there is also additional temporary cover, of up to EUR 100,000 for 12 months, for amounts originating from real estate transactions and certain other events. If you are holding a large amount in the account ahead of a payment, ask the bank whether the conditions for the additional cover are met in your case.
Which mistakes delay the opening or put the money at risk?
- Opening at the last minute: the customer review takes time, and assigning a NIF adds up to 5 days.
- Payment to an account that does not appear in the contract. Every payment goes only to the account specified in writing; “updated” account details arriving by email are a reason to stop and verify by telephone.
- Arriving at the bank without documentation of the source of funds.
- Ignoring the gap between the official reference rate and the bank's conversion rate.
- Forgetting the Israeli side: an account abroad and money transfers may require reporting to the Israel Tax Authority. Check this with your tax adviser.
What to do before signing and how we assist
Before signing a preliminary contract, it is worth building a clear payment route: from which account each payment is made, into which account it is received, and when a local account is required, if at all. We help buyers prepare the source-of-funds file, check that the account details in the contract comply with the law and coordinate with the bank and the notary. Acts under Romanian law, such as signing the deed and registration, are carried out by a notary and by lawyers licensed in Romania.
What is stated here is general information correct as of October 2026 and does not constitute legal, tax or financial advice for a specific case. Account opening requirements vary from bank to bank; before taking action, check directly with the bank and obtain individual advice.
Frequently asked questions
Can you buy an apartment in Romania without a Romanian bank account?
Yes. Payment can be made from an account abroad to the account specified in the contract, and when buying from a developer, to the project's dedicated account. A local account is required in practice when you take a mortgage from a Romanian bank.
Can you open a bank account in Romania remotely?
Some banks offer online opening, but it is usually intended for Romanian residents. A non-resident usually needs to attend a branch once, so it is worth checking in advance with the bank you have chosen.
Do you need a NIF before approaching the bank?
Not necessarily. Under the Fiscal Procedure Code, the bank requests the NIF from the tax authority when the account is opened, and the number is returned to it within 5 days. If you already have a NIF, bring it.
How much money is insured in a bank account in Romania?
The FGDB insures up to EUR 100,000 per depositor per bank, in any currency. There is also additional temporary cover for amounts originating from real estate transactions, under conditions the bank can detail.
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The information in this guide is general in nature and does not constitute legal or tax advice on any specific transaction. Every transaction is assessed on its own facts.