New Hungary Golden Visa Program 2024 Explained: Obtaining Hungary Residency by Investment

BUDAPEST, Hungary, June 4, 2024 /PRNewswire/ -- At the end of 2023, the Hungarian Government announced a new Hungary Golden Visa program, scheduled to launch on July 1st, 2024. Read on to learn the details.

Requirements for participating in the program

The Hungary Golden Visa program was introduced as an alternative to the permanent residency by investment program closed in 2017. Now, candidates have more investment options to choose from.

Investment requirements. The program conditions propose three investment options:

1. Purchasing real estate fund units for €250,000+. The capital should be invested in a local real estate fund registered with the Hungarian National Bank.
2. Acquiring a residential property of €500,000+. According to the latest amendments published in the National Legislation Database of Hungary, this option will be available starting January 1st, 2025.
3. Making a donation of €1,000,000+ to a higher educational institution in Hungary.

Applicant requirements. To qualify, applicants must:

• come from outside the EU and the EEA;
• be over 18,
• have a legitimate source of income;
• have a clean police record.

5 benefits of the Hungary Golden Visa

1. Visa-free travel across the EU. Hungarian residents can spend up to 90 days out of 180 in the Schengen Area.
2. Opportunity to live and work in Hungary. Upon obtaining residency, investors can move to Hungary, but are not obliged to do so. They also have the right to be employed or conduct business in Hungary.
3. Long validity. The status is granted for 10 years extendable for the same period.
4. Family inclusion. Permits are issued to the entire family: an investor, their spouse, minor children, and parents.
5. Return of investments after five years. Applicants can withdraw the invested capital after holding the status for five years. However, to extend residency, they will need to make a new investment.

Main steps for obtaining a Golden Visa in Hungary

The process of obtaining the Hungarian Golden Visa includes several stages:

1. Finding an agent to accompany you throughout the process.
2. Choosing an investment option.
3. Applying for a Guest Investor Visa to enter Hungary.
4. Travelling to Hungary to fulfil the investment condition.
5. Applying for residency.
6. Submitting biometrics.
7. Receiving residence permit cards — by mail or in person.

Comprehensive information on conditions, latest updates, and consultations on participation in the program can be accessed via the Hungary Golden Visa website.

Logo - https://mma.prnewswire.com/media/2430002/hungary_golden_visa_Logo.jpg

Contact Details: 
Ferenc Tihánszkij 
https://hungarygoldenvisa.io/
Budapest
Szervita square 8, Budapest, 1052
+36 20 808 0851

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-hungary-golden-visa-program-2024-explained-obtaining-hungary-residency-by-investment-302163673.html

SOURCE Hungary Golden Visa