Hungary’s Golden Visa Program, officially known as the Guest Investor Residence permit, has been relaunched in 2024 with significant updates. This visa offers residence rights, the ability to work, and access to the Schengen Area, making it a valuable opportunity for those seeking to invest in Hungary’s growing economy.
In this article, we’ll explore the updated investment pathways, eligibility criteria, and the benefits of this program.
Key Updates on Hungary’s Golden Visa Program: What You Need to Know
| Pathway | Investment Amount | Duration | Benefits |
|---|---|---|---|
| Investment Fund | EUR 250,000 | Minimum 5 years | Residence permit and work rights for principal applicants and dependents |
| Residential Real Estate Investment | EUR 500,000 | Minimum 5 years | Ability to live, work, and enter Schengen Area countries for 90 days within 180 days |
| Donation to Higher Education Institution | EUR 1 million | Non-refundable | Supports scientific research/artistic activities, residency, and work rights |
Detailed Overview of Hungary’s Golden Visa Pathways
1. Investment Fund Pathway (EUR 250,000)
The investment fund pathway offers a residency option for individuals who invest EUR 250,000 in a specific fund that supports Hungary’s economic development. Applicants must commit their investment for at least five years to be eligible for a 10-year renewable residence permit, granting the ability to work and reside in Hungary.
2. Residential Real Estate Investment (EUR 500,000)
Another option is investing EUR 500,000 in Hungary’s residential real estate market. This pathway has been postponed until January 2025, with only property purchases made after January 1, 2025 being considered. Successful applicants will receive residency and work rights for themselves and certain family members.
3. Non-refundable Donation (EUR 1 Million)
Applicants can also choose to make a non-refundable donation of EUR 1 million to a Hungarian higher education institution to support scientific research or artistic activities. This donation will allow the applicant and their family members to obtain a 10-year residence permit with work rights in Hungary.
Family Members Eligible for Residence Permits
Under the Golden Visa Program, certain family members of the primary applicant can also benefit from dependent residence permits, which include the right to work and reside in Hungary. Eligible family members typically include:
- Spouses
- Minor children
- Dependent parents
These family members can join the primary applicant in Hungary, ensuring they also have the opportunity to live and work in the country.
Why the Golden Visa Program Matters for Hungary’s Economy
By reopening the Golden Visa Program, Hungary aims to attract foreign investment and enhance its economy. The three investment options not only allow wealthy individuals to secure residency but also directly contribute to Hungary’s economic growth. The EUR 250,000 investment fund and EUR 500,000 real estate investment are designed to support the country’s infrastructure and housing market, while the EUR 1 million donation supports scientific and artistic development.
Hungary’s Golden Visa Program – A Gateway to Opportunity
Hungary’s Golden Visa Program is an excellent opportunity for individuals seeking residency and work rights in the Schengen Area. With flexible investment options, including real estate, investment funds, and donations, the program offers a path to a prosperous future in one of Europe’s most dynamic economies.
If you’re considering applying for Hungary’s Golden Visa Program, make sure to stay updated on the latest developments to take advantage of this exciting opportunity.
FAQs: Hungary Golden Visa Program
Q1: What is the Hungary Golden Visa Program?
The Hungary Golden Visa Program is a residency by investment scheme that allows applicants to obtain a 10-year renewable residence permit by investing in Hungary’s economy through either an investment fund, real estate, or a donation to higher education.
Q2: What are the investment options under Hungary’s Golden Visa Program?
Applicants can choose from three investment options:
- EUR 250,000 in a specific investment fund
- EUR 500,000 in Hungary’s residential real estate market
- EUR 1 million as a non-refundable donation to a higher education institution
Q3: Can my family join me under Hungary’s Golden Visa Program?
Yes, family members including spouses, minor children, and dependent parents are eligible to join the primary applicant through dependent residence permits.
Q4: When can I start investing in Hungarian real estate for the Golden Visa?
The real estate investment pathway will be available after January 1, 2025, for properties purchased post this date.
Q5: What are the benefits of the Golden Visa Program?
The program provides residence rights, the ability to work, and access to the Schengen Area (90 days within a 180-day period), among other long-term advantages.
