Romania offers citizenship and residency to foreign investors who invest in the country. Romania is a EU member country since 2007 but Romania not a member of schengen area. It is not possible to acquire citizenship in Romania without living in the country.
Romanian Citizenship by Investment
Foreigners must invest EUR 1 million  in business or real estate and to be legal residents in the country for 4 consecutive years to gain citizenship.
Residence period reduced to four years, also requires integration to language and culture.
Romanian Residence Program
To qualify for a one year residence permit, applicants must invest in a company or which (s)he has received endorsement of the Romanian Centre for Trade Promotion and Foreign Investments and provide proof of legal ownership over the space for the office and the dwelling space. In addition, applicants must show proof of monthly income of EUR 500 (USD 550) for associates and EUR 700 (USD 770) for stakeholders for the period of the stay.
This  residence permit is renewable for successive 1 year periods.
For investments of at least Euro 200,000 (USD 220,000) or in case at least 25 workplaces were created, the proof of the means of subsistence is no longer necessary. If the investment made by the applicant reaches at least EUR 500,000 (550,000) or they have created at least 50 full time jobs, their residence right will be extended by 3 years.
Citizenship
Romania Citizenship after 8 years of living in Romania. Read more about the citizenship procedure here
