Hungary has reintroduced its golden visa program, providing a fresh opportunity for investors and high-net-worth individuals to obtain a residency in Europe. Which will be known as the Guest investor residence scheme. This will provide a pathway to residency and work permits.
Overviews of the Guest Investor Residence Scheme
The guest investor’s residence scheme grants foreigners the opportunity to acquire residence permits in Hungary through different investment pathways. The goal is to attract more global investors and skilled workers by providing dynamic work and residency rights.
Benefits of the Guest Investor Residence Scheme
Among the many benefits are:
- Work Authorization: Holders of this kind (Investors Residence Permit) can participate in their independent business ventures, earn salaries or other forms of income, and hold executive roles in business organizations or cooperatives, providing significant career versatility.
- Long-term Residency: Initially, a residence permit is valid only for a decade (10 years), providing this extended security for investors and their families. This permit can be extended (renewed) for another 10 years, ensuring continued residency and work benefits.
- Family Inclusion: The scheme supports family reunification, providing residency permits with employment rights to spouses, minor children, and dependent parents of the main permit holder, promoting family cohesion and economic participation.
Eligibility requirements
Applicants must meet one of the following investment conditions to qualify for the Guest Investors Residence permit:
1. Fund Investment in Shares: Invest a minimum of EUR 250,000 in a real estate fund registered by the Hungarian National Bank.
2. Property Purchase (Real Estate Investment): Own a residential property in Hungary valued at least EUR 500,000 for a minimum of five years (effective January 2025).
3. Charitable Donation (Non-Refundable Donation): Make a non-refundable donation of EUR 1 million to support educational, scientific research, or artistic creation activities at a higher education institution maintained by a public trust.
How to apply (Step-by-step Processes)
Visa entry (Entry with Visa): Applications must be submitted within 93 days from the applicant’s first legal entry into Hungary, either with a guest investor or visa-exempt entry.
Current Residents: Residents in Hungary with visa-free entry eligibility can apply during their legal stay. Those without eligibility must first obtain a guest investor visa from abroad.
National Card Eligibility
Citizens from the following countries can receive a National Card:
- Bosnia and Herzegovina
- Republic of North Macedonia
- Republic of Belarus
- Moldova
- Republic of Montenegro
- Russian Federation
- Serbia
- Ukraine
Guest Workers Residence Permit
The residence permit for guest workers is available to citizens from:
- The Philippines
- Republic of Indonesia
- Republic of Kazakhstan
- Mongolia
- Socialist Republic of Vietnam
- Federal Republic of Brazil
- Georgia
- Kyrgyz Republic
- Bolivarian Republic of Venezuela
- Republic of Colombia
Conclusion
Hungary’s revived golden visa program offers a compelling mix of work and residency benefits for global investors. With diverse investment options and a simplified application process, this program aims to attract a wide range of foreigners seeking to establish their homes in Hungary.
