Hungary Golden VISA: A Fresh Route to EU Residency

The Hungary Golden VISA presents a new and appealing route to EU residency, offering a valuable opportunity for investors and their families to establish residency in Hungary. This program allows applicants to enjoy the numerous benefits of living in a European Union member state, such as high-quality healthcare, excellent education, and diverse business opportunities. By fulfilling specific investment requirements, individuals can obtain a residency permit that lays the groundwork for future citizenship.??

Hungary Citizenship through the Hungary Golden VISA: Essential Information You Should Know?

Hungarian citizenship can be obtained either through descent from a Hungarian parent or via the process of naturalization. Generally, individuals born in Hungary to foreign parents do not automatically acquire Hungarian citizenship. The Hungarian Citizenship Act and the Hungarian Act on Foreigners detail the various pathways to citizenship for third-country nationals in Hungary.?

For one to apply for Hungarian citizenship, they must have resided continuously in Hungary for at least eight years, demonstrate proficiency in the Hungarian language, possess sufficient means of subsistence, and maintain a clean criminal record. However, those of Hungarian origin can benefit from a simplified naturalization process, which requires proficiency in the Hungarian language, proof of Hungarian origin, and evidence of an ancestor who lived in Hungary.?

Hungary permits dual citizenship, allowing third-country nationals to retain their previous citizenship while acquiring Hungarian citizenship. This dual citizenship feature is particularly advantageous for individuals applying for the Hungary Golden VISA, as it provides an additional pathway to both residency and citizenship.?

The Hungary Golden VISA offers a streamlined route to obtaining residency in Hungary, which can eventually lead to citizenship. By investing in Hungary and meeting specific criteria, individuals can enjoy the numerous opportunities Hungary provides, including the potential to become a Hungarian citizen through the Hungary Golden VISA. This program facilitates a smooth transition to residency and opens doors to the many benefits of living in Hungary, company formation in Hungary, access to quality healthcare, education, and a favourable business environment. Therefore, the Hungary Golden VISA is an excellent option for those seeking to secure both residency and citizenship in this vibrant European nation.?

Qualifications To Obtain Hungary Golden VISA?

To qualify for the Hungary Golden VISA, investors must meet the following criteria:?

• Be a non-EU and non-EEA citizen over the age of 18.?

• Successfully undergo the due diligence and background verification checks performed at various stages in the process.?

• Demonstrate that they have sufficient means to support themselves and their family members and be able and willing to disclose the source of their wealth.?

• Receive approval from the competent authorities to buy residential property in Hungary.?

• Prove that they have the necessary means to purchase residential property in Hungary and complete the purchase within the specified time frame.?

What are the Investment Options and Requirements for Applicants in Hungary???

In 2024, Hungary's new Golden Visa program will offer non-EU and non-EEA investors a 10-year residence permit, presenting three distinct investment routes. The options include a €250,000 investment in a local real estate fund, purchasing property worth at least €500,000, or making a €1,000,000 donation to a public trust supporting universities.?

To qualify for any investment option in Hungary's Golden VISA program, applicants need to meet the following requirements:?

1. Possess a valid passport, return or transit documents, and sufficient funds to cover food, accommodation, and travel expenses.?

2. Provide a clear justification for entering and staying in Hungary.?

3. Have comprehensive health insurance or the financial means to cover medical expenses.?

4. Ensure there are no entry bans, expulsion orders, or threats to Hungary’s state policy, public safety, national security, or health interests.?

5. Have no alerts registered in the Schengen Information System.?

Family Applications for the Hungary Golden VISA Program: Things You Need to Know?

When applying for the Hungary Golden VISA, you can also include your spouse and children under 18 in your application. For children over 18, there is still an opportunity to include them, provided they can prove financial dependency, are studying, and are unmarried. Additionally, you can include your parents in your Hungary Golden VISA application if they are 65 years or older, with no need to prove dependency. If you wish to include additional dependents in your Hungary Golden VISA application, be aware that extra fees will apply.?

The Hungary Golden VISA program is designed to accommodate families, offering flexibility for including various family members. By meeting the specific criteria for each dependent category, you can ensure that your loved ones benefit from the same residency and eventual citizenship opportunities that the Hungary Golden VISA provides. This makes the program not only an attractive option for individual investors but also a comprehensive solution for families seeking a new life in Europe.?

Documents Required to Prove Means of Subsistence for the Hungary Golden VISA: A Comprehensive Guide?

Below are the documents required to obtain Hungary Golden VISA:??

• Bank statement?

Provided by a financial institution, whether Hungarian or foreign.?

• Income certificate?

Issued by the tax authority or employer to verify income.?

• Documents on Hungarian accommodation?

Includes a residential lease contract, courtesy document, or proof of reservation and payment.?

• Pay Slips?

Recent pay slips corresponding to the employment contract.?

• Tax Returns?

Recent tax returns or certificates demonstrating financial status and regular income.?

• Proof of Investment?

Documentation confirming investments such as real estate or business ownership in Hungary.??

• Documents on home ownership?

Abstract of title issued within the last 30 days.?

• Real estate sales contract?

A copy of the decision by the competent Budapest or county government agency granting permission for property acquisition.?

• Comprehensive health insurance documents?

Statement proving coverage sufficient for voluntary departure from the EU.?

Step-by-Step Guide to Obtaining the Hungary Golden Visa?

The program's specifics are pending, with updates to follow up on new data availability. However, here’s how the process usually goes, according to Enterslice's professional help the individual can easily obtain a Hungary Golden visa:?

1. Preliminary Due Diligence for Hungary Golden VISA: Completed in 1 Day?

Enterslice conducts a thorough eligibility check within a day, ensuring a low rejection risk of just 1%. If any issues arise, alternative investment solutions are proposed.?

2. Document Preparation and Visa Application:? Completed within 2 to 4 weeks?

Assistance includes gathering, translating, notarizing documents, and completing government forms for the Investor Visa application, which initiates Hungary residency.?

3. Visa Approval within 2 months?

The Investor Visa allows a 90-day stay in Hungary within a 180-day period.?

4. Investment Fulfilment within 3 months?

Investors must complete their chosen investment within 93 days of entering Hungary on the Guest Visa to qualify for the residence permit.?

5. Residence Permit Approval in 2 to 3 days?

With legal support, the residence permit application process is streamlined, typically taking only a few days before scheduling a biometrics appointment.?

6. Biometrics Submission and Residence Permit Issuance up to 3 weeks?

Investors and their family members visit the migration service for fingerprinting and photos, receiving their residence permit cards within 21 days. The permit is valid for 10 years with an option for renewal for an additional 10 years.?

Top 10 Reasons for Foreigners to Apply for the Hungary Golden VISA?

Hungary is renowned for its favourable climate, vibrant business landscape, low tax rates, and strategic access to over 20 neighbouring countries. Discover why applying for the Hungary Golden Visa is a compelling choice for foreigners with the help of Enterslice:?

1. Access to the European Union?

Enjoy the benefits of being in an EU member state, facilitating travel and business within the Schengen Area.?

2. Attractive Investment Opportunities?

Explore diverse sectors ripe for investment, including real estate, technology, and manufacturing.?

3. High Quality of Life?

Experience a rich cultural scene, excellent healthcare, and educational institutions that uphold international standards.?

4. Robust Healthcare System?

Access top-notch medical services and facilities, ensuring peace of mind for you and your family.?

5. Quality Education Options?

Enrol in prestigious schools and universities offering a range of programs in English and other languages.?

6. Central European Location?

Strategically positioned in Central Europe, providing easy access to major European markets and economic hubs.?

7. Favourable Tax Environment?

Benefit from competitive tax policies and incentives designed to support businesses and individuals.?

8. Strong Cultural Heritage?

Immerse yourself in Hungary's centuries-old traditions, festivals, and UNESCO World Heritage sites.?

9. Safe and Secure Environment?

Enjoy a stable political climate and low crime rates, ensuring a secure living and working environment.?

10. Business-Friendly Policies?

Take advantage of policies that encourage entrepreneurship, innovation, and foreign investment, fostering business growth and expansion.?

Challenges Faced When Applying for the Hungary Golden VISA?

Obtaining a Golden Visa for Hungary can present several challenges. Here are 15 significant ones:?

1. Financial Requirements?

Ensuring compliance with the minimum investment thresholds, which can involve significant financial commitments.?

2. Documentation?

Gathering comprehensive documentation, such as proof of investment, financial statements, and personal identification documents, to support the visa application.?

3. Legal and Regulatory Compliance?

Understanding and adhering to Hungary's intricate legal and regulatory framework governing the Hungary Golden Visa program.?

4. Investment Risk?

Assessing the risks associated with the chosen investment option, particularly in real estate or business ventures.?

5. Language Barrier?

Overcoming challenges related to completing forms and understanding legal documents in Hungarian.?

6. Changes in Legislation?

Staying informed about any updates or amendments to Hungary’s immigration and investment laws that could impact visa eligibility.?

7. Processing Time?

Managing potential delays in processing times and bureaucratic procedures throughout the application process.?

8. Proof of Funds?

Providing clear and verifiable evidence of the origin and legality of the investment funds.?

9. Tax Implications?

Understanding the tax obligations associated with investments in Hungary and residency status.?

10. Residency Requirements?

Meeting specific physical residency criteria required by the Golden Visa program.?

11. Application Costs?

Budgeting for various fees, including application fees, legal fees, and administrative costs.?

12. Renewal and Maintenance?

Complying with ongoing requirements to renew and maintain Golden Visa status over time.?

13.?Political and Economic Stability?

Evaluating Hungary's political and economic stability as factors that may influence investment decisions and residency plans.?

14. Cultural Adjustment?

Adapting to cultural nuances and lifestyle changes when settling in Hungary.?

15. Dependents?

Including family members in the visa application process, which may necessitate additional documentation and requirements.?

Other Ways to Explore Alternative Paths to Attain Hungarian Residency: Beyond the Hungary Golden Visa?

There are several avenues to attain residency in Hungary, tailored to diverse needs and preferences. One prominent route is the Hungary Golden Visa, designed to expedite the residency process for investors and their families through substantial financial investments:?

• Individuals who are financially independent can obtain residency by demonstrating a stable external income of at least €10,000 per month from sources such as employment abroad, pensions, dividends, or rental income. The initial residence permit is issued for a period ranging from 2 to 5 years.?

• Entrepreneurs and freelancers have the option to apply for a 3-year residence permit, which can be renewed for an additional 3 years.?

• Digital nomads seeking residency must show a monthly income of €2,000 to qualify for a one-year permit.?

• International students interested in residency must exhibit proficiency in the Hungarian language and cover tuition fees to apply for a one-year visa, contingent upon enrolment in a Hungarian educational institution.?

Top 11 Advantages of Obtaining Hungarian Residency through Investment: Exploring the Benefits of the Hungary Golden VISA?

Holders of Hungary’s residence permits enjoy various advantages, including the right available only to EU residents. Besides, investors benefit from the specially designed Golden Visa terms.??

• Travel Freedom?

Holders of Hungary’s residence permits enjoy 90 visa-free days within the Schengen Area every 180 days, leveraging Hungary's central European location for convenient continental travel.?

• Living in Hungary?

Hungary offers a safe and cost-effective option within the EU, granting indefinite stay through residence permits. Ranked among the top 20 safest countries by the Global Peace Index, Hungary surpasses several European nations in safety standards, with lower living expenses compared to peers.?

• Healthcare and Education?

The Hungary Golden Visa provides access to both public and private schooling for children, along with comprehensive healthcare coverage for the entire family. Hungary was noted for its healthcare innovation globally in 2022, enhancing healthcare access for residents.?

• Low Taxes?

Becoming a Hungarian tax resident requires spending over 183 days annually in the country. Tax residents are subject to global income tax, while non-residents are taxed solely on Hungarian-sourced income. Hungary applies a 15% rate for income, capital gains, and withholding on dividends, with 18.5% social security contributions. Inheritance and gift taxes are 18%, reduced to 9% for residential properties.?

• No Stay Requirements?

Typically, investors are not obliged to reside in Hungary to maintain or renew their permits, subject to forthcoming terms for Hungary Golden Visa holders.?

• Quick Process?

Residence permit applications can be processed within a few months, facilitating swift integration.?

• Zero Capital Risk?

Investment commitments can be fulfilled post-approval of the application, minimizing upfront financial exposure.?

• Family Inclusivity?

Spouses, children, and dependent parents are usually eligible for residency either with the principal applicant or through family reunification.?

• No Language Requirement?

Applicants are not required to undergo a Hungarian language proficiency test to qualify.?

• Global Eligibility?

The Hungary Golden Visa program welcomes applications from all non-EU and non-EEA nationals, expanding its appeal internationally.??

• Citizenship Potential?

Permanent residency can be attained after three years of residing in Hungary, with citizenship by naturalization an option following eight years of residency or permanent residency, pending future policy updates for Golden Visa holders?

New Hungarian Guest Investor Program (GIP) Launching In 2024?

Hungary's Parliament has recently approved a groundbreaking new regulation establishing the Guest Investor Program (GIP), set to launch in 2024. This innovative initiative provides investors with an attractive pathway to residency in Hungary, offering a 10-year residence permit under favourable terms.?

?The program requires a minimum investment of €250,000, with the investment obligation only arising after the application has been approved. This initiative aims to streamline the process for foreign investors seeking to obtain Hungarian residency through significant financial contributions, aligning with the broader benefits of the Hungary Golden Visa framework.?

Hungary’s Largest Companies by Market Capitalization, 2024?

By obtaining Hungary Residency by Investment, an individual can also establish a company and potentially become one of the largest companies in Hungary. Here's a comprehensive list showcasing some of Hungary's largest companies. Acquiring a Hungary Golden Visa opens avenues for investment and entrepreneurship, facilitating significant business growth opportunities within the country.??

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Features of Hungary Golden Visa & Residency Program??

Explore the features of Hungary's Golden Visa and Residency Program, offering a pathway to residency through the following key points:?

• Minimum real estate investment requirement of €155,000.?

• Attain residency within just 4 months, making it one of the quickest in the EU.?

• Considered the most cost-effective program among EU options.?

• Includes residency privileges for the entire family.?

• Benefit from a preliminary assessment within 24 hours to assess eligibility.?

• Hungary is recognized as an EU tax haven with highly advantageous tax regulations.?

• Initial residency granted for 5 years with the option to extend beyond this period.?

Why Choose Hungary??

Hungary stands out as a premier destination for Hungary residency by investment, consistently ranking among the top 30 most visited countries globally. Its appeal lies in a high standard of living, bolstered by universal healthcare, excellent education options, affordable living costs, and exceptional safety measures. Additional advantages include:?

• A streamlined application process that minimizes travel requirements and allows for submissions from overseas.?

• The opportunity to include dependent children and parents in residency applications.?

• Access to lucrative opportunities for real estate and business investments.?

• Membership in the Schengen zone, the European Union, and NATO, ensuring extensive travel and security benefits.?

• Possession of a powerful passport facilitating visa-free travel to over 170 countries globally, enhancing mobility and international accessibility.?

Summing Up Key Points for Hungary Golden Visa?

In conclusion, the Hungary Golden VISA program offers a streamlined and attractive route to EU residency for non-EU and non-EEA investors. With its affordable real estate investment minimum, quick processing time, and extensive benefits including residency for the entire family, Hungary stands out as a prime destination for those seeking new opportunities in Europe. The program not only provides a path to Hungarian residency but also opens doors to future citizenship, access to high-quality healthcare and education, and a favourable tax environment.?

FAQs on Hungary Residency by Investment?

1. What is the Hungarian investment immigration program??

The Hungarian investment immigration program provides a golden visa pathway for investors, enabling them to obtain residency by investing in bonds issued by the Hungarian National Bank, purchasing residential properties, or making donations to specified institutions. This program grants a ten-year residency permit, making it an attractive option for non-EU and non-EEA nationals looking to secure long-term residency in Hungary through strategic investments.?

2. Can I get residency in Hungary if I buy a house??

No, automatic residency is granted to non-EU nationals based solely on property ownership. However, owning property can strengthen an application for a residence permit in Hungary. The process requires applicants to fulfil diverse criteria, including demonstrating financial stability and having adequate health insurance coverage. This structured approach ensures that applicants for the Hungary Golden Visa meet all necessary requirements for residency.?

3. Can I apply for a new Hungarian residency program??

The Hungarian residency program, scheduled to launch in January 2024, welcomes applicants of all nationalities, including Russians, Belarusians, and Iranians. This new initiative under the Hungary Golden Visa framework aims to broaden accessibility to residency for diverse international investors.?

4. What is the Hungarian Guest Investor Program??

The Hungarian Parliament has approved a new regulation launching 'guest investor residency' in Hungary. This program grants investors 10 years of residence with preferential conditions. To qualify, a minimum investment of 250,000 euros is required, which is payable after approval.?

5. Is the Hungarian Guest Investor Program approved by the Hungarian government??

Yes, a law passed on December 9, 2023, and amended on May 11, 2024, provides non-EU nationals with the opportunity to obtain 10-year residency in Hungary through investment. This new regulation is part of the Hungary Golden VISA program, which aims to attract investors by offering a straightforward path to residency with a minimum investment requirement?

6. Will I indeed get a Hungarian residence permit if I apply??

At Enterslice, we prioritize due diligence before entering into any agreement, ensuring a 100% success rate. If an applicant does not meet our requirements or if any discrepancies are found in their background, we do not proceed with their application for Hungary Golden Visa.?

7. What is the difference between temporary and permanent residence??

A Hungarian residence permit allows non-citizens to legally live in Hungary. Temporary permits are valid for 1-5 years, while permanent permits are issued indefinitely. Holding a 10-year Hungarian residence permit enables travel across Europe and facilitates visa applications for countries like the USA and the UK.?

8. I need a Hungarian passport. What time should I wait to be a Hungarian citizen??

To obtain a Hungarian passport, you must reside in Hungary for a minimum of 8 years. This residency requirement is necessary for eligibility to apply for Hungarian citizenship.?

9. Should I also pay tax in Hungary??

No, you do not need to pay tax in Hungary unless you stay in the country for more than 182 days within a 12-month period. This condition determines whether you become subject to the Hungarian tax system.?

10. Should I live in Hungary to keep my residence permit??

No, living in Hungary is not a requirement to maintain your residence permit.?

11. Does the Hungarian Investment Immigration Program guarantee citizenship??

The Hungarian Investment Immigration Program offers a streamlined path for investors to attain permanent residency in Hungary quickly. It accelerates the usual process, granting permanent residency without the typical waiting periods. However, participation in the program does not guarantee preferential treatment for obtaining Hungarian citizenship. Nonetheless, for those looking to relocate to Hungary and willing to make the necessary investment, this program presents a highly advantageous opportunity.?

12. Is it possible to get citizenship by investment in Hungary??

Currently, obtaining citizenship through investment in Hungary requires first obtaining permanent residency, which typically involves several years of residence. However, there are proposed changes to the Hungarian immigration law aimed at expediting this process for participants in the investment immigration program. For the latest updates and detailed guidance, consult with one of our experts directly.?

13. What other residence permit options can you offer??

Our alternative option for residency permits includes business immigration through company formation in Hungary. If you're looking to establish business operations in Europe, setting up a company in Hungary can qualify you for residency. Running a registered company allows you to leverage Hungary's favourable business environment while securing residency through the process.?

14. How can I get PR in Hungary by investment??

To achieve permanent residency in Hungary, individuals must reside there for three years with a residence permit. Investors can acquire a residence permit by purchasing real estate, making a donation to a higher education institution, or investing in a local real estate fund, with a minimum investment requirement of €250,000. This pathway through the Hungary Golden Visa program offers a strategic opportunity for investors seeking long-term residency and investment prospects in the country.?

15. Is Hungary good for immigrants??

It depends on your goals. Hungary offers residency, but integration can vary.??

16. Is Hungary cheap to live??

It is generally cheaper than in Western Europe, but costs vary depending on lifestyle.?