On October 29th, 2024, the SPRINT Hungary Real Estate Development and Investment Fund became the first licenced fund approved for the Hungary Golden Visa program. Managed by SPRINT ASSET Hungária Zrt., this fund has been added to the National Bank of Hungary’s official list.
Four more real estate funds are awaiting approval to participate in the program. These funds have submitted licensing applications but currently have no specific approval timelines. They are undergoing a rigorous evaluation to ensure compliance with the program’s standards.
To qualify, real estate investment funds must meet certain conditions:
- National security screening. Fund managers must pass an initial security screening by the Constitution Protection Office.
- Asset management thresholds. Managers of alternative investment funds must supervise assets totaling at least €100 million, or €500 million for funds operating without leverage and with a minimum five-year investment period. Non-alternative fund managers qualify if they oversee real estate assets valued at over €600 million.
With the first fund now licenced, Golden Visa applicants can proceed with the residency application process. Although the program launched on July 1st, 2024, no approved investment options were available initially. However, Hungarian authorities still accepted and processed Guest Investor Visa applications.
Now, applicants holding a Guest Investor Visa may travel to Hungary, purchase fund units for at least €250,000, and apply for a residence permit.
The Hungary Golden Visa program grants a 10-year residence permit to investors from non-EU and non-EEA countries. This status can be renewed once for the same period and extends to the investor’s close family.
Along with buying real estate fund units, other investment options under the Golden Visa program include making a charitable donation of €1,000,000+ to higher education and purchasing real estate valued at least €500,000. The real estate purchase option will only be available from January 1st, 2024.
