What is Hungary’s new Golden Visa program, and who is eligible for it?
VIENNA, Feb. 2, 2024 /PRNewswire/ — A Hungary Golden Visa is the new program that offers residency permits by investment to non-EU and non-EEA citizens. The program will supposedly start in 2024.
What are the conditions for obtaining a Golden Visa in Hungary?
According to the official Hungarian Parlaiment’s official website, investors will have three options:
- invest a minimum of €250,000 in local property funds approved by the Hungarian National Bank;
- purchase real estate valued at €500,000, with a commitment to maintain ownership for at least 5 years;
- make a charitable donation of at least €1 million to public trusts supporting Hungarian universities and colleges.
What are the initial steps for foreign investors to obtain a residence permit in Hungary?
Foreign investors should first secure a two-year Guest Investor visa, allowing multiple entries into Hungary and a stay of up to 90 days within 180 days. The chosen investment should be fulfilled within three months from the initial entry.
How long is the Hungarian Golden Visa valid, and can family members join the investor in Hungary?
The residence permit is initially valid for 10 years, with the possibility of an extension for 10 more years. Investors can bring their family members, including spouses and children, to live with them in Hungary.
Has Hungary had Golden Visas in the past?
Yes, Hungary had a previous Golden Visa program that offered permanent residency by government bond investments of at least €300,000, operating from 2013 to 2017.
What are the key benefits of obtaining a Hungarian residency permit by investment?
- Visa-free travel. Hungary’s residency permit holders can travel visa-free within the Schengen Area, with unrestricted access to Hungary.
- Work and business opportunities. The residence permit opens doors to employment and business ventures in Hungary, the European Union, and the Schengen Area. Children of residents can study at European universities without student visas.
- Path to citizenship. After three years of residing in Hungary, foreign investors can obtain permanent residence, and after an additional five years, they can apply for Hungarian citizenship.
Why can investors trust Immigrant Invest?
Immigrant Invest can assist investors in obtaining a Hungary Golden Visa. As a licensed agent for citizenship and residency programs in Dominica, St. Kitts & Nevis, St. Lucia, Antigua and Barbuda, Grenada, and Malta, our services meet the stringent compliance and reliability criteria set by EU and Caribbean government authorities.
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