Starting from 1 July, individuals from non-EU countries can apply for a residency permit in Hungary through the Hungary Golden Visa program. It grants the right to reside in the country through real estate investment. You can participate in the programme in three ways:
- Purchase certificates from a real estate investment fund registered with the National Bank for amounts exceeding €250,000.
- Purchase residential real estate from €500,000.
- Donate at least €1,000,000 to Hungarian universities for scientific, cultural, and creative project implementation.
Eligibility Requirements
Applicants must be at least 18 years old. Required conditions include having no issues with the police (a criminal record certificate is necessary) and a legal source of income. An investor can obtain a residence permit for their entire family, which includes the spouse, minor children, and parents.
Initial Steps for Application
Participation in the Guest Investor Programme is the preliminary requirement for obtaining a Hungarian residence permit through investment. The Guest Investor Visa is valid for two years, during which time the individual must travel to Hungary to request a residence permit. With the Guest Investor Visa, you can stay in the country for over 90 days within a 180-day period, as well as enter and exit the country multiple times.
Renewed Program Insights
The Golden Visa programme had previously operated in Hungary but was closed in 2017 due to inefficiency. However, the renewed programme is expected to generate more interest and contribute positively to the country’s economy.
Advantages of the Hungary Golden Visa
One of the most notable benefits of the Hungary Golden Visa is the relatively straightforward pathway to permanent residency in Hungary. This opportunity opens doors to numerous advantages, given certain investment-related conditions are met.
Travel Benefits
The Hungary Golden Visa allows for unrestricted travel within the Schengen region, which comprises 26 countries, including Germany, France, Italy, and Spain. Consequently, by applying for this investment immigration programme, you can navigate across various countries without the hassle and expense of multiple visas. This enhances travel planning, enabling you to immerse yourself in Europe’s rich cultural and natural heritage without being restricted to just one destination.
Investment Security
Investing in the Hungary Golden Visa programme is a strategic decision, offering both capital growth and a secure future in Europe. You’ll gain access to opportunities for education, employment, and overall better living conditions within the country.
Pathway to Citizenship
The Hungary Golden Visa provides an attractive route to citizenship through investment. To qualify, you must purchase real estate worth at least €500,000 or government bonds worth at least €250,000. Following your investment and application for a residence permit, you will gain the right to live and work in Hungary. After five years of residency under the Golden Visa programme, you will be eligible to apply for citizenship.
Tax Advantages
Favourable tax conditions are another appealing facet of the Hungary Golden Visa programme. Hungary’s personal income tax rate is only 15%, which is among the lowest in Europe. Furthermore, the corporate tax rate stands at a modest 9%. These tax incentives can result in significant savings and enhanced income potential.
Family Inclusion Benefits
The programme allows for applications not only for yourself but also for your loved ones, including your spouse, children, and parents. This means your entire family can enjoy the benefits of living, working, and studying in Hungary together, hence easing the transition into a new environment.
Quality of Life
The Golden Visa facilitates living in a country renowned for its high standard of living. Hungary offers comprehensive healthcare, quality education systems, and well-developed infrastructure. Additionally, the vibrant cultural scene creates a conducive environment for both living and working. With its central position in Europe, Hungary grants easy access to neighbouring countries, allowing for exploration of diverse cultures and experiences.
What about you? Have you ever been to Hungary? Feel free to share any tips or advice below!
