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In 2024, Hungary reinitiated its Golden Visa Program, offering investors a pathway to obtain a residence permit through three distinct options, one of which includes a real estate purchase. The program stipulates a minimum investment of €250,000.
Applicants are required to demonstrate the availability of investment funds and provide evidence of their lawful origin. Significantly, the inclusion of family members in the application does not necessitate an increase in the base investment amount.
Golden Visa holders can reside in Hungary for the entire validity period of their residence permit and enjoy unrestricted entry to the country at any time, even during periods when the borders are closed to other foreigners.
Holders of a Hungary Golden Visa enjoy visa-free access to over 35 European countries, including all EU and Schengen nations. They can stay in these areas for up to 90 days in any 180-day period.
For Schengen Area travel, only a Hungarian residence permit card is needed. To enter non-Schengen countries like Bulgaria or Montenegro, residents need a residence permit card, a valid passport, hotel booking confirmation, and occasionally, a bank statement.
The Hungary Golden Visa offers an extended validity of up to 10 years, with an option for renewal for an additional decade. This contrasts with other EU nations, where Golden Visas typically have shorter durations, ranging from 2 to 5 years.
The Hungarian government offers a pathway to obtaining a residence permit for investors through the purchase of residential properties within the country. This option is particularly advantageous for those seeking to relocate to Hungary via the Hungary Golden Visa Program.
Holders of a residence permit can seek permanent residency after three years of living in Hungary, and citizenship eligibility arises after an additional eight years.
With a Hungarian passport, visa-free travel is possible to 171 countries, including the USA, Great Britain, Japan, and Singapore.
Hungarian medicine, adhering to EU standards, offers services at lower costs compared to Germany or Scandinavian countries.
Residents can access healthcare in both public and private clinics and are entitled to a European Health Insurance Card, allowing for free or reduced-cost medical treatment across the EU.
Seven Hungarian universities feature in the top 1000 globally, as per QS Top Universities, including institutions in Budapest, Szeged, and Debrecen. These universities provide programs in English, French, German, and Hungarian.
Adhering to the Bologna system, Hungarian higher education guarantees international recognition of its diplomas.
The average cost of living in Hungary, excluding rent, stands at €600 per person monthly. Thus, a four-person family typically requires around €2,000 per month.
Notably, living expenses in Hungary are approximately 1.5 times lower than in countries like Germany or Sweden.
Hungary boasts a competitive income tax rate of 15%. This is notably lower compared to rates in other European countries, such as Germany’s peak rate of 47.5% and France’s maximum of 55%.
Holders of a Hungary Golden Visa are granted the flexibility to register a company in Hungary, pursue self-employment, or engage in employment under a labour contract.
Investors are not obligated to reside in Hungary, allowing them the freedom to enter and exit the country as they please.
Financially dependent on the investor
Applicants have the option to invest in Hungarian real estate by purchasing units from local investment funds. These funds must be invested specifically in real estate, and the investment certificates issued need to be registered with the Magyar Nemzeti Bank (Hungarian National Bank).
The investments cannot be redeemed for a minimum period of five years following the purchase.
Applicants also have the opportunity to invest directly in real estate by purchasing a residential property. However, this option necessitates a higher financial commitment compared to fund investments: the property must have a minimum value of €500,000.
The sales and purchase agreement the investor signs stipulates that the property cannot be resold for a minimum period of five years.
Applicants can contribute €1,000,000 to a higher education institution that is part of the Foundation for the Management of Assets in the Public Interest. This donation is intended to support key areas such as education, scientific research, or artistic creation.
To apply for a Hungary Golden Visa, investors must submit the following documents:
Note: This document list is subject to change and will be updated upon the Golden Visa’s official launch.
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A Certified Compliance Anti-Money Laundering Officer conducts a thorough verification of the investor’s data against international databases.
This meticulous screening process reduces the risk of application refusal to as low as 1%.
Lawyers at Immigrant Invest tailor a document checklist specific to each investor’s circumstances for residence permit applications.
We provide assistance in completing government forms and facilitate the translation and notarization of necessary documents.
The applicant is initially granted a Guest Investor Visa, valid for up to 2 years.
This visa authorises entry into Hungary for the purpose of applying for a residence permit through investment. Additionally, it allows for multiple entries and exits from the country, as well as the ability to reside in Hungary during its validity.
Investments should be completed within three months from the date of first entry into Hungary on a Guest Investor Visa.
The Hungarian Golden Visa application can be submitted either to the relevant immigration authority in Hungary or through an online process.
The investor is required to visit the migration office at a designated time, present their passport and the original documents, provide biometric data, and have a photograph taken for the residence permit card.
The card is then mailed to the investor’s specified address within 21 days.
While obtaining and maintaining a residence permit, various everyday tasks may surface, such as dealing with banks, immigration services, city hall, and land committees. Our team will handle these responsibilities, ensuring a smooth and hassle-free process for you.
At Immigrant Invest, we provide a trusted real estate database and assist in selecting and facilitating property transactions.
We can guide you in selecting a bank and preparing the necessary documents to open an account.
We handle document preparation and application processes for bringing your relatives to Hungary.
In case of loss, we assist in applying for a replacement residence permit card through the immigration service.
We aid in gathering documents, ensuring compliance with renewal criteria, and submitting the extension application to the immigration service.
We assist in document preparation and submission of applications for permanent residence to the immigration service.
Foreign nationals can secure a Hungarian residence permit as financially independent persons by proving stable income from sources outside Hungary, such as foreign company salaries, rental income, pensions, or savings in foreign banks.
Applicants must show an income of at least €10,000 for themselves and for each family member.
A registered Hungarian address is mandatory for the applicant, achievable through either purchasing or renting property in any Hungarian region, with no minimum housing cost requirement.
Effective from 2024, Hungary introduces the new Golden Visa program. This initiative establishes a new visa category known as the ‘guest-investor visa,’ designed for individuals participating in government-recognized ‘strategically important investments’ within Hungary.
Under the Golden Visa Program, investors have options such as purchasing a fund share valued at €250,000, or real estate in Hungary worth a minimum of €500,000. Additionally, a donation of 1 million euros to a member higher education institution of the Foundation for the Management of Assets in the Public Interest also qualifies for the Hungarian residence permit.
Yes, buying property in Hungary as a foreigner can lead to residency. Purchasing real estate valued at €500,000 qualifies for a 10-year residence permit in Hungary.
To obtain a Hungarian residence permit, investors can utilise the Golden Visa Program. Alternatively, foreigners with stable external income can qualify for residency as financially independent individuals. The Golden Visa offers more benefits in terms of validity period and residence conditions compared to the financially independent option.
Residence permit holders can apply for permanent residence after three years of living in Hungary, and after another eight years, they can apply for citizenship.
A Hungarian passport enables visa-free access to 171 countries, including the USA, Great Britain, Japan, and Singapore.
Schedule a meeting at one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.