Hungary Golden Visa applications will be accepted starting July 1st, 2024. The program is available to non-EU and non-EEA nationals who have a clean police record, a legitimate source of income, and a commitment to invest in the Hungarian economy.
Submitting an application for a Golden Visa
According to the clarifications, applications for the issuance of residence permits can only be submitted from within the territory of Hungary. This means that investors cannot apply from abroad and must visit the country in person.
If coming from a third country without a visa waiver agreement with Hungary, a candidate needs to obtain a guest investor visa. If they are entitled to visa-free travel to Hungary, this stage is skipped.
An application for a residence permit must be submitted within 93 days from the date of the first entry with a guest investor visa. A candidate can choose one of the two ways:
- apply in person at the regional office of the National Directorate-General for Aliens Policing according to their place of living;
- apply online via the Enter Hungary platform; notably, this is the only possible option if the applicant’s attorney-in-fact is a legal representative or a legal entity.
Extending a residence permit
Similar to obtaining residency, a guest investor permit extension can only be claimed from within the territory of Hungary via the Enter Hungary portal. Investors must apply for the extension while their permits are still valid and have at least 30 days remaining before expiration.
To qualify for an extension, the applicant has to meet one of the following conditions, depending on the investment grounds for the initial residency:
- If they invested in real estate fund units, they must hold a fund share worth at least €250,000 at the time of claiming the extension.
- If they purchased a residential property, the property should still be owned and valued at no less than €500,000. If the property was sold or its value decreased to under €500,000, the applicant must purchase a new one meeting the program conditions.
- If residency was granted for a non-refundable donation, the residence permit is extended automatically upon request.
Additional considerations for obtaining and holding a residence permit
If the investor’s application is refused, they can appeal the decision within eight days of delivery. The appeal should be directed to the authority of first instance or to the Hungarian Embassy or Consulate where the application was submitted.
Residence permit cards are sent to the applicant’s Hungarian address indicated in the application. The investor can also receive documents in person at the office of the National Directorate-General for Aliens Policing; however, in this case, they need to prove their inability to receive the documents by post.
If any changes occur in data used to verify the investment during the validity of the residence permit, the investor must report this within five days via the Enter Hungary portal.
