The new Hungary Golden Visa program was introduced in the updated immigration law that took effect on January 1, 2024. The program was designed to attract non-EU high-net-worth individuals willing to make a significant investment in the Hungarian economy in return for a residence permit.
Investment Options Under the Hungary Golden Visa Program
The Hungarian Immigration Law offers investors three options to choose from, each catering to different goals and having different investment thresholds.
Purchase of real estate fund units for at least €250,000. This is the most affordable option. To qualify, the securities should be issued by a real estate fund included in the list of qualified market operators. The list of eligible funds is maintained and updated by the Constitution Protection Office.
After 5 years, fund units can be redeemed and the investment returned.
Purchase of residential real estate valued at least €500,000. This option has been postponed to January 1, 2025. Properties bought before this date will not qualify. Current regulations do not pose any specific requirements on the purchased property.
The investment should be maintained for at least 5 years.
Non-refundable contribution of €1,000,000+. The donation is made to an institution of higher learning in Hungary to support education, scientific research, and artistic or creative activities. The qualifying institution should be maintained by a public interest trust foundation performing a public task.
Requirements for Applicants and the Obtaining Process
Qualification requirements for the main applicant are as follows:
- must come from a non-EU and non-EEA country;
- must be over 18 years old;
- must have a legitimate source of income;
- must purchase health insurance.
The Hungary residence permit by investment extends to the investor’s family, including a spouse, children under 18, and dependent parents.
The process of obtaining Hungarian residency involves several main steps:
- Acquiring a Guest Investor Visa in the applicant’s home country. This national visa is valid for 6 months and allows the investor to enter Hungary.
- Travelling to Hungary to make the investment. Candidates have 93 days from the first entering Hungary with the Guest Investor Visa to implement the investment condition and apply for residency.
- Submitting an application for residency. After the investment is made, the candidate visits a migration office in Hungary to apply and submit biometrics.
The validity period of a residence permit is 10 years. To maintain the status, Golden Visa holders are not required to move to Hungary. The permit can be extended for an additional 10-year term.
Get in touch with our experts to get a consultation and apply for a Hungary Golden Visa.
