Table of Contents
Hungary Golden Visa program offers a unique opportunity for high-net-worth individuals to obtain residency by making a qualifying investment. Zlata Erlach, Head of the Austrian office, Caribbean Investment Programs Expert at Immigrant Invest, explains how the program works and provides essential details on the benefits, eligibility criteria, and investment options. The article also outlines the application process for those interested in Hungary residency by investment.
What is Hungary’s Golden Visa
Hungary’s Golden Visa program provides residency by investment of at least €250,000. This program is designed to attract foreign capital, offering investors and their families a stable base within the European Union.
Launched in 2024, the program allowed for investment in fund units, real estate and donation to an institution of higher learning.
Benefits of Hungary Golden Visa
One of the key benefits is access to the EU’s Schengen Zone, allowing visa-free travel to 29 European countries. This is especially beneficial for business people who need unrestricted mobility. The visa also provides a pathway to permanent residency and, eventually, citizenship.
Other advantages include:
- The ability to live, work, and study in Hungary.
- No mandatory stay requirement, allowing flexibility for investors with business in other countries.
- Family inclusion: spouses and children can apply as dependents.
- Long-term residence permit for 10 years with opportunity to renew it for another 10 years.
Eligibility Criteria
High-net-worth individuals can get Hungary Golden Visa by meeting a certain criteria, including having a clean criminal record and sufficient funds for the investment.
Applicants need to provide valid passports, proof of income, and health insurance. All documents must be translated into Hungarian.
The main eligibility requirements include:
- non-EU nationality;
- proof of legitimate income or wealth;
- no criminal record;
- valid health insurance coverage.
For dependents, additional documents such as marriage and birth certificates are required, and these must also be translated and certified. It is essential to ensure that all documentation is complete before submission to avoid delays in processing.
Investment Options
There are several ways to qualify for the Hungarian Golden Visa:
- Purchase of real estate fund units — €250,000+.
- Property purchase — €500,000+.
- Donation to an institution of higher learning — €1,000,000+.
The option to purchase real estate will open on January 1st, 2025. Properties acquired before this date will not be eligible for the Golden Visa.
Also Read: Hungary Vignette: Your Ultimate Checklist for a Road Trip
Application Process to Obtain Hungary Residency by Investment
The application process is clear but requires preparation. It begins with gathering the necessary documents, which must be submitted to Hungarian immigration authorities. Applicants also need to complete background checks and demonstrate proof of funds.
After submission, authorities will review the application, a process that can take 6 months. The basic steps include:
- preparation of documents;
- submitting the application;
- awaiting approval;
- receiving residency permit.
It’s important to follow all legal steps carefully. Applicants should work with experienced immigration advisors to ensure their application is completed correctly. Mistakes or incomplete documents can result in delays, or even rejections, which could impact the overall timeline.
Final Thoughts
Hungary’s Golden Visa program is a viable option for high-net-worth individuals looking for European residency. With its attractive benefits and straightforward application process, it provides a solid foundation for both living and investing in Hungary.