The Hungary Golden Visa program’s framework remains steadfast, ensuring that the eligibility criteria for the Guest Investor Visa stay unchanged. Under this initiative, residence permits will be valid for an extensive period of 10 years, with the option for renewal for an identical term. This offers a stable and long-term opportunity for investors and their families, including spouses and children, to relocate and establish a new life in Hungary.
Investors seeking to secure a 10-year residence permit in Hungary have several investment avenues open to them:
- A minimum investment of €250,000 in local real estate funds, tapping into Hungary’s real estate market potential.
- Acquisition of residential real estate valued at a minimum of €500,000, offering a direct route to residency through property ownership.
- A substantial investment of at least €1,000,000 in public funds, supporting broader economic and social initiatives within Hungary.
Starting January 1, 2024, Hungary will cease issuing “Residence Permits for Other Purposes”, indicating that foreigners will no longer be eligible to obtain residence permits based on property ownership regardless of the value, or by demonstrating stable income and sufficient savings. This adjustment emphasises the Golden Visa as the sole pathway to securing special condition resident status in Hungary, underlining the program’s distinct importance and exclusivity.
A Hungarian residence permit not only facilitates living and working across Europe but also grants visa-free access to the Schengen Zone, a significant advantage for business and leisure travel. Additionally, it offers educational opportunities for residents’ children, who can enrol in European higher education institutions without the need for student visas, further enhancing the appeal of Hungary as a destination for investors and their families seeking a European domicile.
For those aiming to be pioneers in obtaining a residence permit through Hungary’s revamped investment scheme, scheduling a consultation with legal experts is advisable. This proactive step ensures potential investors receive tailored advice and guidance through the application process.
