Hungary’s New Golden Visa Program 2024 Explained: Obtaining Hungarian Residency by Investment
PR Newswire
Budapest, Hungary, June 4, 2024
BUDAPEST, Hungary, June 4, 2024 /PRNewswire/ — At the end of 2023, the Hungarian government announced a new Hungarian Golden Visa program, scheduled to begin on July 1, 2024. Read on to find out more.
Program Participation Requirements
Hungarian Golden Visa Program It was introduced as a replacement for the Permanent Residence by Investment program that ended in 2017. Now, candidates will have more investment options to choose from.
Investment requirements. The program terms suggest three investment options:
- Purchase real estate fund units worth at least 250,000 euros. The capital must be invested in a local real estate fund registered with the Hungarian National Bank.
- Acquisition of residential property worth more than 500,000 euros. According to the latest amendments published in the Hungarian National Legislative Database, this option will be available from 1 January 2025.
- Donate more than 1 million euros to Hungarian higher education institutions.
Applicant requirements. To be eligible, applicants must:
- You are from outside the EU and EEA.
- Be 18 years of age or older
- Have a legitimate source of income
- There is no problem with the police record.
5 Benefits of the Hungarian Golden Visa
- You can travel visa-free throughout the EU. Hungarian residents can spend a maximum of 90 days within the Schengen Area within any 180 day period.
- Opportunity to live and work in Hungary. With the right of residence, the investor can move to Hungary, but this is not compulsory. Doing business in Hungary.
- Long expiration date. This status is granted for a period of 10 years and is renewable for the same period.
- Family participation. Permits are issued to all family members of the investor, his/her spouse, minor children and parents.
- Payback after 5 years. Applicants can withdraw their invested capital after holding the status for five years, but to extend their residency they will need to make new investments.
Main Steps to Obtain a Golden Visa in Hungary
The process of obtaining a Hungarian Golden Visa involves several stages.
- Find an agent who will accompany you throughout the process.
- Choosing your investment options.
- Apply for a guest investor visa to enter Hungary.
- Traveled to Hungary to meet investment requirements.
- Applying for residency.
- Sending biometric information.
- You will receive your residence permit card by mail or in person.
Comprehensive information about program participation requirements, updates and consultations can be accessed below: Hungarian Golden Visa Website.
Logo – https://mma.prnewswire.com/media/2430002/hungary_golden_visa_Logo.jpg
contact address:
Ferenc Tyhansky
https://hungarygoldenvisa.io/
Budapest
Shelvita Square 8, Budapest, 1052
+36 20 808 0851
Source: Hungarian Golden Visa
