Hungary Relaunches Golden Visa Program

Hungary is back with its Golden Visa Program, now called the Guest Investor Program (GIP), starting July 1, 2024.

This program, which stopped in March 2017, allows wealthy people from outside the European Union (EU) and European Economic Area (EEA) to get residency in Hungary.

This residence permit is granted for 10 years and may be extended once for the same period.

The Guest investor visa provides a path to naturalise for citizenship. You must live in Hungary continuously for 8 years. Also must pass Hungarian language and cultural tests.

What is the Guest Investor Program (GIP)?

The GIP offers three ways for foreign nationals to get residency in Hungary:

Invest in Real Estate: Buy a real estate fund unit for at least €250,000.
Buy Property: Purchase residential property worth €500,000.
Support Education: Donate at least €1,000,000 to a higher education institution in Hungary.

This relaunch is notable as countries like Spain and Portugal have stopped similar programs due to housing shortages.

Who Can Apply

To qualify for the Golden Visa, you must be:

A non-EU and non-EEA national
Over 18 years old
Without a criminal record
Financially stable with a legitimate income source

To obtain a Golden Visa, investors must hire an agent to guide them through the process and select one of the investment options.

Interested applicants need to apply for a Golden Visa to enter Hungary, travel to meet all investment requirements, and then apply for residency. After submitting their biometrics, if all conditions are met, they will receive their residence permit cards either by mail or in person.

The Golden Visa allows visa-free travel in all EU countries and covers the applicant’s spouse, minor children, and parents.

Hungary’s Golden Visa Program is a golden opportunity for wealthy investors to gain residency and enjoy visa-free travel across the EU. With new investment options, it’s a fresh start for those looking to invest in Hungary’s promising future.

Do you have plans to move to Hungary? Talk to us in the comment section below. Or if you need more advice on the above, contact us for further travel & immigration advice.

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