The golden visa for Hungary program has been relaunched and is set to begin in 2024. This program offers a 10-year residence permit to investors from non-European Union (EU) and non-European Economic Area (EEA) countries who meet the eligibility requirements. The Hungarian National Assembly has introduced new conditions and investment options for the relaunched program.
To be eligible for the Hungarian Golden Visa, investors must meet certain requirements, including investing in Hungarian government bonds or stocks, or investing in a Hungarian company. The investment options and costs for the program vary depending on the chosen investment route. The Hungarian Golden Visa provides a number of benefits, including the ability to travel freely within the Schengen Area, access to healthcare and education, and the opportunity to apply for permanent residency or citizenship after a certain period of time.
Investors who are considering the Hungarian Golden Visa program should conduct a comparative analysis of the program with other similar programs to determine which program best suits their needs. It is important to carefully review the eligibility requirements, benefits, and investment options before making a decision.
Key Takeaways
- The Hungarian Golden Visa program offers a 10-year residence permit to non-EU and non-EEA investors who meet the eligibility requirements.
- Eligibility requirements include investing in Hungarian government bonds or stocks, or investing in a Hungarian company.
- The Hungarian Golden Visa program offers a number of benefits, including the opportunity to travel freely within the Schengen Area, access to healthcare and education, and the possibility of applying for permanent residency or citizenship after a certain period of time.
Eligibility and Requirements
To be eligible for the Hungary Golden Visa program, investors must meet specific criteria. This section will outline the investment criteria, residency and citizenship requirements, and the application process.
Investment Criteria
From 2024, there will be three new investment avenues available for investors to obtain a Hungary Golden Visa. These options include:
- Real estate acquisition funds minimum of €500,000
- Investment in real estate for a minimum of €250,000
- Non-Refundable Public Trust Donation of €1 million
Residency and Citizenship
Investors from non-EU and non-EEA countries will be able to obtain a 10-year residence permit through the Hungary Golden Visa program. The program is open to all nationalities, including Russians, Belarusians, and Iranians.
One of the key benefits of the Hungary Golden Visa program is that there are no minimum stays required. Unlike with the Portugal Golden Visa, Hungary requires no minimum stays (0 days per year).
It is important to note that the Hungary Golden Visa program does not offer a direct path to citizenship. However, after eight years of continuous residence in Hungary, investors may be eligible to apply for citizenship.
Application Process
The application process for the Hungary Golden Visa program is straightforward. Investors must provide proof of their investment, a clean criminal record, and a valid passport.
Once the application is submitted, it will be reviewed by the Hungarian authorities. If the application is approved, investors will receive a 10-year residence permit, which can be renewed indefinitely as long as the investment is maintained.
Hungary Golden Visa program offers investors an attractive opportunity to obtain a 10-year residence permit in Hungary. With a range of investment options available, investors can choose the option that best suits their needs.
Benefits of the Hungarian Golden Visa
The Hungarian Golden Visa program offers numerous benefits to investors who are looking to obtain a residence permit in Hungary. Here are some of the key advantages of the program:
Freedom of Movement
One of the primary benefits of the Hungarian Golden Visa is the freedom of movement it provides. Holders of the visa can travel visa-free within the Schengen Area, which includes 26 European countries. This means that investors and their families can enjoy hassle-free travel throughout Europe.
Family Inclusion
Another advantage of the Hungarian Golden Visa is that it allows for family inclusion. Investors can include their spouse and children under the age of 18 in their application. This means that the entire family can benefit from the visa and enjoy the same rights and privileges as the investor.
Long-Term Advantages
The Hungarian Golden Visa program offers long-term advantages to investors. Holders of the visa can obtain permanent residency in Hungary after five years of continuous residence. This means that investors can enjoy long-term stability and security in Hungary.
In addition to these benefits, the Hungarian Golden Visa program also offers access to high-quality healthcare and education. Hungary has a well-developed healthcare system and offers affordable healthcare services to residents. Additionally, the country has a strong education system and offers high-quality education to both children and adults.
Overall, the Hungarian Golden Visa program provides investors with a range of benefits and advantages. From freedom of movement to family inclusion to long-term stability, the program offers a variety of perks that make it an attractive option for investors who are looking to obtain a residence permit in Hungary.
Investment Options and Costs
Hungary’s Golden Visa program offers several investment options for potential investors. These investment options include real estate acquisition, investment in a real estate investment fund, and a non-refundable public trust donation. Each of these options comes with a different minimum investment amount and processing fees.
Real Estate and Funds
One of the investment options available under the Golden Visa program is real estate purchase. The minimum investment amount for this option is €250,000. Investors can choose to purchase any type of real estate, including residential, commercial, and industrial properties. Alternatively, investors can also choose to invest in a real estate investment fund, which requires a minimum investment of €300,000.
Public Trust Donation
Another investment option available under the Golden Visa program is a non-refundable public trust donation. The minimum amount required for this option is €1 million. This investment option provides investors with the opportunity to support charitable causes in Hungary while also obtaining a 10-year residence permit.
Additional Expenses
In addition to the minimum investment amounts, investors are also required to pay processing fees. These fees cover the cost of application processing and range from €60 to €1,000 depending on the type of application. It is also important to note that investors must have a valid passport and meet other eligibility requirements to qualify for the Golden Visa program.
Overall, Hungary’s Golden Visa program offers a range of investment options for potential investors. Whether investors choose to purchase real estate, invest in a real estate fund, or make a non-refundable public trust donation, they can obtain a 10-year residence permit and enjoy the benefits of living in Hungary.
Golden Visa for Hungary: Comparative Analysis
Hungary vs Other EU Countries
When it comes to Golden Visa programs, Hungary offers a competitive option for investors seeking residency in the EU. Compared to other EU countries, Hungary’s Golden Visa program is relatively affordable, with investment options ranging from €250,000 to €1 million.
For instance, Portugal’s Golden Visa program requires a minimum investment of €500,000 in real estate, while Malta’s program requires a minimum investment of €250,000 in government bonds. In contrast, Hungary’s program offers more flexibility with investment options such as real estate purchase, participation in a local real estate fund, or a charitable donation.
Moreover, Hungary’s Golden Visa program provides investors with the opportunity to obtain residency in the Schengen Zone, which includes 26 European countries. This is particularly advantageous for investors who wish to travel freely within the EU.
Global Golden Visa Programs
In addition to EU countries, many other countries offer Golden Visa programs for investors seeking residency or citizenship. The Caribbean nations of Antigua and Barbuda, Dominica, and Grenada offer Citizenship by Investment programs, which provide investors with citizenship in exchange for a significant investment in real estate or a donation to the country’s development fund.
Other countries, such as Greece, also offer Golden Visa programs for investors seeking residency in the EU. Greece’s program requires a minimum investment of €250,000 in real estate, and investors must spend at least 90 days per year in the country to maintain their residency status.
Overall, while there are many Golden Visa programs available globally, Hungary’s program offers a competitive option for investors seeking residency in the EU. With affordable investment options and the opportunity to obtain residency in the Schengen Zone, Hungary‘s Golden Visa program is worth considering for investors looking to expand their global footprint.
Also check: Golden Visa For Ireland
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