Suspension. After the updated Hungarian immigration law took effect at the beginning of 2024, the process for submitting applications for residence permits was suspended. Consequently, third-country nationals have been unable to obtain or renew residence permits in Hungary, except for cases deemed of national interest to the country.
Extension. Hungary has extended residence permits and permanent residency cards set to expire between January 1, 2024, and February 29, 2024, until April 30, 2024. This extension is granted automatically, eliminating the need for an additional application or a visit to a Client Service Office. No separate extension documents will be issued; holders can legally reside in Hungary using their current documents.
Resumption. Immigration authorities were slated to resume accepting applications in March 2024, but the law implementation rules have not yet been announced. Applications submitted before December 31, 2023, will be processed under the old regulations, but decisions will only be made after March 1, when the new system is fully operational.
The newly adopted immigration law in Hungary has brought significant changes to the residence permit system, increasing the number of permit categories from 18 to 24. It also introduces new eligibility categories for Hungarian residency, catering to digital nomads, entrepreneurs planning to start a business, and investors.
Under the Hungary Golden Visa program, foreign nationals who contribute to the economy can obtain residency through several investment options:
- Purchasing real estate fund units for €250,000+.
- Investing in residential property for €500,000+.
- Making a charitable donation of €1,000,000+.
Initially, investors receive a Guest Investor Visa, allowing entry into Hungary to fulfil the investment requirements and apply for residency. Importantly, maintaining residency does not necessitate residing in Hungary. After five years, investors may sell their assets and recover their investments.
The applicant may include their spouse and children in their application. After 10 years, the permits are eligible for renewal for another decade, provided the investor continues to fulfil the program’s conditions.
