Hungary Introduced Its Golden Visa Scheme for Foreign Investors in Real Estate

Hungary, a country situated in the center of Europe, entices with a unique fusion of modern potential and historical elegance. Hungary offers a range of attractive pathways, tailored to accommodate the diverse contributions and goals, of those wishing to establish a permanent home.

Investors have the chance to become residents of the EU country through the Hungary Golden Visa Program. Only a foreigner with a valid legal title, period of stay, and, provided the requirements are fulfilled, state acceptance is permitted to remain in Hungary.

Third-country nationals are only permitted to work or remain permanently in Hungary with the approval of the Hungarian state if their employment does not negatively impact any Hungarian citizens and their presence in the country serves the interests of Hungarian society.

Consequently, to facilitate the entry and stay of citizens of third countries in Hungary, the Parliament of Hungary has established a system of procedural rules and sanctions.

According to EY Global, foreign nationals who meet the requirements and invest in Hungarian real estate may apply for Golden Visas starting on July 1, 2024. With a golden visa, a person can live and work in Hungary for a maximum of ten years, with the option to stay an extra ten years, provided they invest at least two hundred fifty thousand euros in real estate or give one million euros to a higher education institution. Holders of golden visas are free to enter and depart the Schengen Area and are allowed to spend up to 90 days in any 180-day period within the Member States that make up the Area. For the period of their visa, holders of golden visas may sponsor their dependents to travel with them to Hungary.

For Business or Investment Purposes

Hungary’s dedication to promoting economic growth through foreign investment is demonstrated by its Guest Investor Visa. This visa opens the door for applying for a guest investor residence permit in addition to allowing for multiple entries and extended stays.

Significant investments that support Hungary’s national economic interests are among the qualifying requirements.

• Purchasing investment certificates from a registered real estate fund for a minimum of EUR 250,000.
• Acquisition of residential real estate in Hungary for at least EUR 500,000.
• Donation of at least EUR 1,000,000 to a public trust foundation that promotes cultural and educational programs.

For Work Purposes

Professionals who possess specialized knowledge or abilities that are essential to Hungary’s progress may choose to apply for the Hungarian Card or EU Blue Card. These permits, which provide expedited routes to permanent residency and allow holders to work in strategically important fields within the nation’s workforce, are intended to draw in highly qualified individuals.

For Study Purposes

With their study visas, students who wish to pursue higher education in Hungary can investigate their residency options. This route encourages academic endeavors and lays the groundwork for a possible permanent residency depending on academic performance and future employment opportunities in Hungary.