The New Hungarian Golden Visa – 10 year EU residence by investment
Hungary has launched a new Golden Visa, called as Guest Investor Program (GIP) for those seeking residency in Europe through investment. This initiative follows the closure of Hungary’s previous permanent residency program in 2017, offering a 10 year (extendable) residence option for a competitive price in the heart of Europe.
The Guest Investor Program (GIP) is Hungary’s latest offering. It offers 3 different investment categories through which residency could be granted:
Acquisition of investment bond certificates of at least EUR 250,000 issued by a real estate fund registered with the Hungarian National Bank. Investment must be kept for 5 years and residence permit issued for 10 years with another ten year extension
Investment in residential real estate with a value of at least EUR 500,000, located naturally in the geographical territory of Hungary, registered in the real estate register according to the topographical number. Investment must be kept for 5 years and residence permit issued for 10 years with another ten year extension.
Donating a €1.000.000,- to a dedicated institution in connectin with higher education institutions.
The program will be officially launched on 1st July 2024, but until then, preparatory works can and shall be initiated.
Hungary’s new Golden Visa program, along with its other residency options, presents an attractive opportunity for those looking to invest in Europe. The country’s low tax rates and strategic location within the Schengen area make it an appealing destination for investors and high-net-worth individuals.
VISA APPLICATION FOR A PARTICIPANT IN THE HUNGARIAN GUEST INVESTOR PROGRAM
When applying for a visa, the applicant shall declare that they hold or plan to hold at least one of the above investments. Thus, at this stage of the procedure, it is not necessary to already possess an investment, it is sufficient to commit. In such a case, three months are available for making the investment reckoned from the date when the applicant entered the territory of Hungary with a guest investor visa, but a maximum of 3 months from obtaining the visa.
In addition to the above, the applicant shall also prove that they have a legitimate source of funds for the investment, which funds shall be available in or transferable to the territory of Hungary.
When applying for a guest investor visa, the following documents are also required in addition to the above-mentioned:
- a valid travel document
- permission to return or onward travel
- proof of the purpose of entry and stay
- proof of financial coverage and sufficient legal funds for housing
- proof of financial coverage and sufficient legal funds subsistence expenses for the entire duration of the stay, as well as travel expenses, the investment and any medical expenses
The applicant shall not be the subject of a Schengen Information System (SIS) alert, expulsion, or ban on entry and stay, nor shall they be a threat to public order, public security, national security, or public health in Hungary (grounds for exclusion).
The deadline for processing immigration procedures shall be 21 days.
For more information on the GIP, feel free to explore other sections of our website and contact us directly in case of any questions. We, as a one-stop shop offer a wide range of solutions and services from day zero for investors interested in the Hungarian GIP. Should you require personalized advice or wish to discuss specific opportunities, please don’t hesitate to reach out and schedule a consultation with our expert team of advisors.
