Hungary Golden Visa Investment Options and Application Process

Hungary relaunched its Golden Visa program in 2024, offering residency to non-EU nationals through specific financial investments. This allows investors to get a European residency and eventually citizenship. Here is how it works.

5 main benefits of getting Hungary Golden Visa

1. 10-year renewable residency. The visa comes with a long-term residence permit valid for 10 years. It can be renewed for another ten. This allows investors and their families to live in Hungary or visit as needed without frequent renewals.
2. Visa-free travel in the Schengen Area. Holders of the Hungary Golden Visa can travel freely across the Schengen Area, enjoying up to 90 days of visa-free access within any 180-day period.
3. Tax advantages. Hungary has:

• one of the lowest flat personal income tax rates in Europe, set at 15%;
• one of the lowest corporate tax rates in Europe, set at 9%;
• no wealth tax;
• no inheritance or gift taxes for immediate family members.

4. No minimum stay requirement, or language tests. Investors are not required to reside in Hungary full-time to maintain their residence permit. There are also no language proficiency tests required in order to obtain the Golden Visa, making the process more accessible for international applicants.
5. Path to citizenship. After three years of legal residency, investors can apply for permanent residency. After eight years, they may be eligible for citizenship by naturalisation, though some conditions, like residency duration and language knowledge, may apply.

Investment options under the Hungary Golden Visa

Hungarian residence permit by investment has three options: investors are free to choose the most suitable ones.

1. Investment in real estate funds requires at least €250,000. Investors purchase units in real estate funds registered with the Hungarian National Bank. Certain conditions apply:

• the funds must allocate at least 40% of their assets to residential real estate investments in Hungary;
• the investment must be maintained for at least five years, after which fund units can be redeemed, potentially allowing for the recovery of the initial investment;
• proof of investment requires a share certificate issued in the applicant’s name; the issuance is completed by a Hungarian National Bank-registered fund manager.

Investors opting for real estate funds are exempt from purchasing property but must provide proof of suitable accommodation in Hungary, either through rental agreements or ownership of unrelated property.

2. Purchase of residential real estate requires at least €500,000. Investors must purchase residential property located in Hungary:

• the property must be free and clear of liens and registered in Hungary’s Land Registry;
• there will be a restriction against alienation or encumbrance placed on it for five years;
• after five years, investors can return the investment by selling the property.

Note that this investment option in particular is available from January 1st, 2025.

3. Contribution to public institutions requires a donation of at least €1,000,000. This is a non-refundable option:

• the contribution must be made to a public interest trust foundation supporting educational research, scientific research, or artistic activities;
• the institution must be maintained by a public trust with a public-service mission.

Who is eligible for the Hungary Golden Visa program?

The main investor must come from a non-EU/non-EEA territory and:

• prove the legitimacy of their income by submitting financial documentation that shows the source of funds;
• demonstrate their intention to invest in Hungary;
• have health insurance with sufficient coverage;
• prove they have enough means to cover their stay in Hungary;
• pose no threat to Hungary’s national security or public order.

The program also covers immediate relatives, including spouses, children under 18, and parents financially supported by the main applicant or their spouse.

All family members included in the application receive the same residency rights as the main applicant. These rights include access to healthcare, education, and the ability to live and work in Hungary. Family members are not required to reside in Hungary permanently unless pursuing permanent residency or citizenship.

Application process for the Hungary Golden Visa

1. Gathering documents. They include:

• valid passport, with at least 12 months remaining;
• two recent passport-size photos;
• health insurance documents;
• written confirmation of intent to meet the investment requirements;
• proof of the legitimacy of income;
• CVs for all family members over 18;
• marriage certificate, if applicable;
• birth certificates for children, if applicable;
• completed application form.

2. Obtaining a guest investor visa. Investors from countries without a visa-waiver agreement with Hungary must first obtain a guest investor visa. This visa allows entry to Hungary for an initial half-a-year period and is required to make the investment.

Investors from visa-free countries can skip this step.

3. Investment and residency application. Upon entry, the investment must be completed within 93 days. Investors can choose from the three outlined investment options.

After the investment, applicants must apply for residency in Hungary, either at a regional office of the National Directorate-General for Aliens Policing or online through the Enter Hungary platform.

3. Getting a residency permit. Once the application is approved, a 10-year residency permit is issued, extendable for another 10-year term.
4. Extending the residency permit. To extend the Hungary Golden Visa, applicants must meet the conditions under which the initial residency permit was granted.

Permanent residency and citizenship

After obtaining a Hungary Golden Visa, investors can consider permanent residency and, eventually, citizenship.

Permanent residency. To get one, investors with a Hungary Golden Visa must:

• have resided in Hungary for at least three years on a temporary residence permit;
• prove financial self-sufficiency and health insurance.

Permanent residency grants holders most rights similar to those of Hungarian citizens, including access to healthcare, education, and the ability to live and work in Hungary.

Family members, including dependent parents and children, are eligible to join the applicant under the same residency permit.

Citizenship. After eleven years of legal residency in Hungary, Golden Visa holders can apply for citizenship by naturalisation.They must:

• prove residency in Hungary for the required period;
• pass a Hungarian language test;
• demonstrate knowledge of Hungary’s laws and culture.

Dual citizenship is permitted in Hungary, which means investors can retain their original nationality while acquiring Hungarian citizenship.

In conclusion

The Hungary Golden Visa offers a robust path to European residency through flexible investment options, including real estate funds, property purchases, and contributions to public institutions. With visa-free travel in the Schengen Area, favourable tax benefits, and the potential for permanent residency and citizenship. The Golden Visa can be obtained in five or more months.