Exploring Hungary's Golden Visa: Your Comprehensive Guide

New Hungarian Golden Visa Program in 2024

‍Launching in 2024, Hungary's Golden Visa promises a decade-long residency permit, renewable for life, and the potential to upgrade to permanent residency with five years of full-time residence.

Hungarian Guest Investor Program (GIP) Application Process

‍The application involves submitting essential documents, including the application form, passport, proof of funds, and others. Approval by Hungarian authorities may take up to 90 days. A minimum investment of €250,000 in real estate, real property bonds, or public interest projects is required.

Requirements of Hungary Golden Visa Program

‍Aspiring applicants must meet specific criteria, forming the foundation for their investment journey.

Investment RequirementsStarting in 2024, investors can choose from three avenues:

• €250,000: Real Estate Investment Fund
• €500,000: Real Estate Acquisition
• €1 million: Non-refundable Public Trust Donation

Family Applications

‍Applicants can include their spouse, children under 18, and children over 18 (if financially dependent and unmarried). Parents aged 65 and above can also be included, with additional fees for extra dependents.

Benefits of Hungary Golden Visa Program in 2024

• Quick and effective European residency option
• Life-long residency renewed every ten years
• Visa-free travel within the EU Schengen zone
• No minimum stay requirements
• Non-residents have no tax obligations
• Right to reside in Hungary
• Approximate approval timeline: 4 to 8 weeks

Residency Permit in Hungary

‍Non-EEA nationals can apply for a Hungarian residence permit for various purposes, including work, self-employment, or establishing a business. The permit, valid for three years, is renewable and can lead to an EU Blue card after five years.

Hungary Citizenship: What You Need to Know

‍Hungarian citizenship can be obtained through descent, naturalization, or simplified naturalization for Hungarians of Hungarian origin. Dual citizenship is allowed.

The Wrap-up

‍Navigating Hungary's immigration and residency is a complex journey, offering various routes for those eyeing this European jewel. The Golden Visa program, with its anticipated launch in 2024, holds promise for a new chapter in Hungary's residency landscape.

Frequently Asked Questions

1. Which are the European Economic Area (EEA) countries?The EEA includes EU countries Iceland, Liechtenstein, and Norway, with Switzerland also part of the single market, granting Swiss nationals similar rights.
2. What is the Hungarian investment immigration program?The program allows investors to purchase bonds, real estate, or donate to gain ten years of residency.
3. Can I apply for a new Hungarian residency program?The program, expected to launch in January 2024, is open to all nationalities.
4. What are the considerations for Hungary Golden Visa?The program offers a 10-year permit, fast processing, family eligibility, and access to education and healthcare.
5. Can I get residency in Hungary if I buy a house?Property ownership can support a residence permit application, but it doesn't guarantee automatic residency.
6. How much is the Golden Visa for Hungary?Hungary discontinued its Golden Visa program in 2017. Residency seekers must now explore other pathways, each with specific requirements and costs.