Partnership · Yerevan × Bucharest
If you advise, represent or sell to Armenian buyers and investors, I handle the Romanian side: finding the property, checking it before signature, coordinating the purchase and managing it afterwards. You keep the client.
Andrei Chihaescu, UpsideTown, Bucharest. See also the Armenia–Romania business bridge.
Your clients ask about Romania. I find and verify properties here, including off-market ones, and you stay their agent.
Your client buys in Romania. I coordinate the property side and introduce Romanian lawyers and notaries. I do not replace legal or tax advice.
You deal with me directly, from the first search to management, for apartments, buildings, commercial and industrial space.
Apartments, buildings and commercial space in Bucharest. Off-market deals come through my network of owners and investors. How off-market works.
Ownership and encumbrances, permits, building status and the seller’s tax certificate, summarised in a written report. The service (in Romanian).
Introductions to Romanian lawyers and notaries, and company set-up when land or a holding structure is needed. I am a broker, not a law firm.
Tenants, contracts, rent, maintenance and reporting, through Proprix, for owners who live abroad.
Cooperation terms with agents and advisers are agreed in writing before the first introduction.
Trade between Armenia and Romania passed USD 100 million in 2025 for the first time in recent years, according to the Armenian Embassy in Romania, and both governments describe business ties as a priority. Bucharest is the entry point for most of it: the capital, the main airport and the market where Armenian businesses and investors most often start.
On the investment side, Bucharest still offers yields well above Western European capitals (Cushman & Wakefield, Q2 2026), with the usual caveat that the number that counts is the net return on one specific property.
Sources: Armenian Embassy in Romania, statement of 25 February 2026; Cushman & Wakefield, DNA of Real Estate Europe Q2 2026.
Yes. Citizens of non-EU countries, including Armenia, can buy apartments and houses in Romania, and there is no requirement to live in Romania to do so. The restriction concerns land: under Law 312/2005, non-EU citizens can own land only under international treaties and reciprocity, so each purchase is checked case by case before any money moves.
Not directly in most cases. The usual route is a Romanian company, which is a Romanian legal entity even when it is 100% foreign-owned and can acquire land in line with its stated activity. Whether a company makes sense depends on the property and the plan, and a Romanian lawyer should confirm the structure before signing.
No residence is needed. Purchases are signed at a notary, in person or through a power of attorney issued for that purpose. Many clients from abroad sign through a representative after the property has been checked.
Rental income from property in Romania is Romanian-source income, so it is taxed in Romania; for individuals the income tax rate is a flat 10%. Romania and Armenia have a double taxation convention in force since the 1990s, and Armenia's Ministry of Finance published an English consolidated text of the convention and its protocol in April 2026. How the credit works in your case is a question for a tax adviser in Armenia and one in Romania.
Global Property Guide reports an average gross rental yield of 5.87% for Romania in Q3 2026, and notes that net yields are typically 1.5 to 2 percentage points lower after costs and taxes. Real figures depend on the area, the unit and how well it is managed, so I work from the actual property and not from averages.
There is no legal ban, but each bank sets its own policy. Non-residents are often asked for a larger down payment and more documents than residents. Most buyers from abroad plan to pay in cash or finance in their home country.
I manage more than 50 properties in Bucharest through Proprix: finding and vetting tenants, contracts, rent, utilities, maintenance and reporting to the owner. You can use it after any purchase, whether or not it went through me. Details are on proprix.ro.
You keep the client relationship and the advice you already give. I handle the Romanian side: search, checks, coordination and management. Cooperation terms are agreed in writing, case by case, before the first introduction.
Contact
armenia@upsidetown.ro
+40 744 900 233
Meetings online or in Bucharest. I plan to meet partners in Yerevan: write to arrange a time.
This page is general information and not legal, tax or investment advice. Rules for non-EU buyers depend on the property and on the buyer, so every purchase should be confirmed with a Romanian lawyer, and tax questions with advisers in Romania and Armenia. UpsideTown is operated by Rephlex Pulse SRL, Str. Alexandru Philippide 5, Bucharest.