Last week a new golden visa program was announced in Hungary, going live in 2024 (exact date not known yet). However, Hungarian residency is already available based on real estate investment. Should you wait for the new program, or should you act now? Read on to find out.
Currently, investment residency in Hungary is possible through real estate investment. If you set up a company and buy real estate to rent out, you become eligible for Hungarian residency based on the steady income your property management company generates. Based on your residency, your family members (spouse and underage children) can also apply for family unification.
Residency is usually granted for about 2 years to start. However, residency can be easily extended, especially if you have spent most of your time in Hungary.
Read more about real estate residency here.
If the proposal is accepted by the Parliament, the new Hungarian golden visa program will go live sometime in 2024. It will offer Hungarian residency based directly on investment or donation, without the requirement for company setup. Family members (spouse and underage children) will be able to apply for residency together with the investor, without the need to wait for a decision in the main applicant’s case.
This new, state approved golden visa option called guest investor residence permit will be valid for 10 years, and extension will also be possible as long as the investment is maintained.
See the latest updates about the program here.
| Available now: Real Estate Residency | Available from 2024: New Guest Investor Program | |
| Investment | Investment in residential real estate (to be rented out): EUR 100-120,000 / flat (2 flats recommended) | Three options: EUR 250,000 in real estate bonds EUR 500,000 in residential real estate EUR 1 million donation to culture or education |
| Processing fee | EUR 20,000 | No data for now |
| Company setup | Required | Not required |
| Family unification | After main applicant | Together with main applicant |
| Residency | 2 years to start; renewable | 10 years to start; renewable |
| Passport validity | Relevant | Not relevant |
| Minimum stay requirement | At least 183/365 days required for easy renewal | None |
While the new program offers significant benefits compared to the existing real estate residency, the proposal has not yet been accepted by the Hungarian Parliament. We do expect the program to start in early 2024; please contact us to express your interest so we can keep you updated. Meanwhile, please talk to our consultants about the existing real estate investment option, which gives you flexibility over the properties you choose, a steady income from the rental of your properties, and the chance to apply for permanent residency after three years. Our experts will help you pick the best option based on your preferences.
Helpers is Hungary’s leading provider of comprehensive business and personal services for international clients. We specialize in business, relocation and immigration solutions, and work with a team of 20+ experts as well as an extensive network of external partners to make sure we can find the best solutions for our clients. Whichever option you choose, we would be happy to advise you and then support you throughout the process.
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