For most of its post-Soviet history, Moldova's real estate intermediation market has operated without formal professional regulation. Anyone could call themselves a real estate agent, negotiate property transactions, and collect commission without any certificate, registration, or minimum competency standard. That changes in January 2027.
Law No. 40 of 26 March 2026 on the activity of real estate agents was adopted by the Moldovan Parliament in its second reading, signed into law, and published in the Official Monitor (Nr. 176–179 of 2026). The law enters into force nine months after publication, placing the operative date in January 2027. Existing agents have 12 months from that date to come into compliance.
This post covers what the law requires, how to structure a real estate agency legally, and what the certification and compliance timeline means for founders entering the sector.
What Law No. 40/2026 introduces
The law establishes a formal regulatory framework for real estate intermediation for the first time in Moldova. Its main provisions:
Professional certificate (mandatory from January 2027). Every person providing real estate intermediation services must hold a professional competency certificate issued by an accredited educational institution. The certificate must be renewed once every five years. No certificate means no legal right to practise intermediation.
Registration module. A national register of certified real estate agents and agencies will be created and maintained by the Agency for Geodesy, Cartography and Cadastre (Agenţia pentru Geodezie, Cartografie şi Cadastru). The register will be publicly accessible.
Ongoing training. Certificate holders must complete continuing professional education at accredited institutions to qualify for renewal.
Written contracts. Real estate agents are required to conclude a written contract with the client (buyer, seller, landlord, or tenant) before providing any intermediation services. Oral arrangements are no longer a valid basis for commission claims.
Disclosure obligations. Agents must provide complete and accurate information about the property, including known risks, encumbrances, and associated costs. This aligns Moldova's agency practice with the disclosure standards common in EU markets.
Data protection. Agents must comply with personal data protection norms when processing client and counterparty information. Moldova's data protection framework aligns with GDPR in structure.
Penalties. Individuals providing intermediation services without a valid certificate: up to MDL 15,000. Legal entities (agencies) operating with uncertified agents: up to MDL 30,000–40,000 per violation. The SFS and the Cadastru Agency will be responsible for monitoring and enforcement.
Compliance timeline
| Date | Event |
|---|---|
| 26 March 2026 | Law No. 40/2026 adopted by Parliament |
| April 2026 | Published in Official Monitor Nr. 176–179 |
| January 2027 | Law enters into force (9 months after publication) |
| January 2028 | Final deadline for existing agents to hold a certificate (12-month grace period from entry into force) |
For new market entrants: from January 2027 onward, you cannot begin intermediation activity without a certificate. For existing agents: you have until January 2028 to certify, but given that accredited training programmes will need to be established and may fill quickly, starting the certification process well before the deadline is prudent.
Legal structure for a real estate agency
A Moldovan real estate agency operates as an SRL registered at ASP under CAEM code 68.31 (Real estate agencies). There is no statutory minimum capital above MDL 1. Foreign founders may own 100% of an SRL; however, as noted below, foreign nationals face restrictions on owning agricultural and forest land in Moldova, which is separate from structuring the agency itself.
Key company formation steps
- ASP registration. The SRL is registered with the articles of association specifying CAEM 68.31 as the primary activity. Additional codes (68.10, 68.20 for property trading or management) may be added depending on the planned scope.
- SFS registration. Automatic upon ASP registration. The agency selects its tax regime: standard CIT (12% on distributed profits, 0% if reinvested) or the small-enterprise simplified system if applicable.
- Cadastru register (from January 2027). The agency registers in the national agent module administered by the Cadastru Agency. Each individual agent employed by or associated with the agency must hold a valid personal certificate at the point of registration.
- Bank account. Standard corporate account opening at a BNM-licensed bank, with KYC dossier under Law 308/2017.
Can a real estate agency qualify for MITP?
No. Real estate agency services (CAEM 68.31) are not included in the eligible activities list under Law 77/2016 and its amendments. Real estate is explicitly excluded from MITP residency. The standard CIT regime applies.
Under the standard regime:
- Corporate income tax: 12% on distributed profits; 0% on retained earnings.
- VAT: mandatory registration when cumulative supplies exceed MDL 1,700,000 in any 12-month period (Art. 112 Codul Fiscal).
- Payroll: standard CNAS and CNAM contributions, income tax withholding.
What the certification requirement means for agency structure
The law creates a personal certification obligation on the individual agent, not only on the legal entity. An SRL operating as an agency is legally liable for the certification status of every person it employs or engages to provide intermediation services.
Practical implications for agency owners:
- Internal staff: every employee or contractor providing intermediation must hold a certificate. The agency cannot use the legal entity's registration to cover uncertified individuals.
- Sole principal: if the founder is also the only agent, the founder must personally obtain the certificate. Company registration alone does not create certification rights.
- Subagents and referral networks: any person receiving a fee for introducing a transaction must hold a certificate if they engage in intermediation (showing properties, negotiating terms, advising on price). Referral fees paid to uncertified parties are a compliance risk.
What we handle
Our scope covers the company-side formation and compliance; the professional certificate itself is obtained through the accredited educational institution designated by the Ministry or the Cadastru Agency.
We handle:
- SRL formation at ASP with CAEM 68.31 as the primary activity code.
- Articles of association and shareholders' agreement, including provisions for agency-specific governance (managing commission accounts, agent representation authorities, client contract templates).
- Bank account opening with the compliance dossier under Law 308/2017.
- SFS regime selection and initial tax setup.
- Ongoing accounting, annual financial statements (Law 287/2014), and payroll administration.
- Fiscal representation at the SFS for non-resident founders.
For the professional certification track: we can refer you to accredited training providers as the Cadastru Agency publishes the approved list. We do not administer the exams or issue certificates.
Structuring for foreign property buyers and investors
A separate but related question for founders in the property sector: can a foreign national or foreign SRL own real estate in Moldova?
- Urban/commercial property: yes. Foreign individuals and foreign-owned SRLs may own urban land and commercial premises without restriction.
- Agricultural and forest land: restricted. Foreign nationals and foreign-owned legal entities cannot own agricultural or forest land in Moldova (Art. 4, Land Code). Foreign nationals may inherit agricultural land but must sell it within one year.
This restriction affects the structure of any investment that involves agricultural land: the typical approach is a long-term lease rather than freehold acquisition. Moldova has a well-established leasehold framework for agricultural land.
For a real estate agency brokering agricultural transactions, the restriction is on the clients' acquisition ability, not on the agency itself. The agency (as an intermediary) does not acquire the land; it facilitates the transaction between eligible parties.
Getting ahead of January 2027
The practical advice for anyone intending to operate in the Moldovan real estate sector:
- Form the SRL now and begin operating under CAEM 68.31. The Law No. 40/2026 does not restrict company formation; it restricts uncertified intermediation activity from January 2027 onward.
- Identify the accredited certification programmes as they are announced by the Cadastru Agency and the Ministry in the months leading to January 2027.
- Ensure every person who will provide intermediation is enrolled in a programme ahead of the deadline.
If you want to structure the company ahead of the certification framework coming into effect, contact us. We will handle the formation and compliance side; you focus on obtaining the certificate before January 2027.