BREAKING NEWS: New Hungarian golden visa program to launch in January 2024

December 8, 2023

Last updated on 11 December 2023.

News from today (December 8) is that the law introducing Hungary’s new golden visa program (also known as “guest investor program”) will be in effect starting from January 2024, and it will be advisable to prepare for application as soon as possible. Read below for details, or contact us to get ahead!

Golden visa program in Hungary from 2024

The main conditions for getting Hungarian residency based on investment have not changed since its first announcement. Investors can apply for residency for 10 years for themselves and their family members (renewable for another 10 years) through any of the following:

  • EUR 250,000 investment into bonds issued by an eligible real estate fund registered by the Hungarian National Bank (MNB)
  • EUR 500,000 purchase of Hungarian residential real estate
  • EUR 1 million donation to a designated educational or cultural institution

Improved benefits

Based on the new version of the law being voted on, not only will the golden visa be valid for 10 years without a minimum stay requirement, but holders of the Hungarian investor residency based on this type of investment and their family members will also be able to work in Hungary without needing a work permit.

When to apply?

As it stands currently, the Hungarian Immigration Office will only process “national interest” residency applications during January and February 2024. The Immigration Office will suspend its services for applicants in all other categories during this time. Starting from March, all types of residency applications can be submitted again, and waiting times for a positive decision may become longer as time goes on.

At present, the law states that applications for the guest investor permit can be submitted from July 1st, 2024 but we can be reasonably certain that the investments for the applications will be processed sooner than this. Also, since the law has not officially passed yet (this is expected this week) the submission dates and deadlines can still change. Therefore, we encourage you to contact us as soon as possible, so we can be ready to submit your application on the earliest available date.

Apply as soon as possible to avoid any delays in processing

If you have been considering application for the new Hungarian golden visa program, it is best to act as soon as possible. Get in touch with us now so we can start compiling your application early 2024 and take advantage of the earliest possible submission dates and the shortened waiting times.

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