A share is an ownership interest in a company. Returns may come from price increases and dividends, both dependent on the company and market. Dividends can be cut or cancelled. Read issuer reports and check the intermediary in the competent authority’s register before buying.
Costs to compare
Compare dealing fees, currency conversion, custody and spreads. On a hypothetical 1,000 lei investment, a 10 lei purchase fee is 1%; selling with the same fee adds another 10 lei. One company can concentrate risk. Diversification spreads exposure but does not eliminate market losses.
Tax on gains realised in 2026
For individuals tax-resident in Romania, Law 239/2025 changes taxation of disposals from 1 January 2026. Through intermediaries applying article 96¹, withholding is 3% on each gain for holdings of at least 365 days and 6% for holdings below 365 days. The intermediary’s tax regime matters, not the app language or chosen exchange.
Under the annual regime in articles 119 and 123(1²), the rate is 16% of annual taxable net gain, reported in the Romanian single tax return (Declarația unică). Do not apply this method automatically to a withholding account. Withholding-regime losses do not offset gains on other trades; annual-regime loss offset and carry-forward rules require separate checking.
The general rate for dividends distributed from 1 January 2026 is 16% under Law 141/2025. Foreign income requires checking treaties, foreign withholding and tax-credit evidence. Health contributions (CASS) are assessed separately against aggregate relevant income; income-tax withholding does not automatically settle every obligation.
Records to keep
Keep purchase and sale confirmations, fees, statements, dividends and annual tax reports. Distinguish the income year from the filing year: 2025 income does not acquire 2026 rules merely because the return is filed in 2026. Evaluate outcomes after costs and tax, without treating past performance as a promise.
Instruments and costs · Other saving options
Buying shares on the Bucharest Stock Exchange
Check the ticker, ISIN, market and issuer on BVB before an order. A company-name search can lead to a bond or another security rather than the ordinary share you intended.
For Banca Transilvania or any other listed issuer, use the official issuer page and company filings. Having a bank account with a company does not make its shares a safe investment.
Share price is not total return
A quote is a price at a point in time. A dividend depends on published corporate decisions and dates; future payments are not guaranteed. Total return also includes price changes and costs.
Read financial results, debt, risk disclosures and corporate actions. A split or capital change is not a free gain simply because the number of shares in the account increases.
Checks before the trade
Verify the intermediary’s authorisation, full tariff, currency conversion, custody and transfer terms. Market and limit orders work differently; understand what can actually execute.
This guide offers no target price or purchase recommendation. Compare ETFs for diversification and bonds to distinguish ownership from lending to an issuer.