Hungarian residency for financially independent persons

May 22, 2024

Recently, we have been receiving enquiries about Hungarian residency for financially independent persons. While this is a residency option available in several European countries, there is no such program in Hungary. However, you can still choose from several options; get an overview here.

What does it mean to be financially independent

In most cases, you can apply for EU residency if you have a specific purpose that brings you to your country of destination. The options available depend on the host country, and they can be varied, including business, investment, work, studies, family unification, and many more.

Some countries, however, also offer residency to financially independent persons. These persons do not have a specific purpose in their intended host country, they “just” want to live there while they also have the funds to support their stay. This might be the case when someone wants to retire in a specific country, when they are digital nomads who want to experience different cultures while running their business, or when they are looking for a second home for their family.

Being financially independent in Hungary

Hungary does not offer a residency program for financially independent persons currently. There used to be a residence permit for “other” reasons, but that was discontinued with the introduction of the new immigration law in 2024. Of course, this does not mean that financially independent persons cannot obtain Hungarian residency – they just need to select an appropriate permit type from the list of residency options currently available.

Depending on your plans in Hungary and your available funds, the following options might be the most relevant to you:

1. Golden Visa Hungary

The Hungarian golden visa program is officially called the guest investor program, and it is intended for people who are interested in making an investment in Hungary. In exchange for a single investment, you, your spouse, and your underage children can receive Hungarian residency for 10+10 years without a minimum stay requirement. The program is supposed to start in July 2024, and it has three investment options:

  • EUR 250,000: purchase of bonds issued by a 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

You can read more about the program here.

2. Real Estate Residency

While you cannot obtain Hungarian residency simply by purchasing real estate, you can become a resident through real estate investment if you buy real estate to rent out and set up a company for property management. The operation of this company will already provide a solid basis for residency application for you and your family members (spouse and underage children). Residency is given for 1+2 years, but it can be extended as long as you spend most of your time in Hungary. In this case, the expected investment is just a little smaller than in the cheapest option of the golden visa program, at only about EUR 240,000.

Learn more about real estate residency here.

3. White Card for digital nomads

The Hungarian White Card is the residence permit offered to digital nomads in Hungary. You can apply if you wish to live in Hungary while you are working for a non-Hungarian company – this company can even be your own. You should also have a steady income from this company (at least EUR 3,000 / month). This type of residency, however, is available only for 1-2 years, and cannot be extended to the family members. Still, it can be an interesting option if you want to get a taste of Hungary before committing to staying here long term.

Find out more about the White Card here.

Looking for something else?

If the above options do not seem relevant to you but you are still interested in Hungarian residency, we are here to help. Helpers has almost 20 years of experience providing business assistance to foreigners living, working, and doing business in Hungary. We would be happy to help you reach your goals too.

Fill in the form below to contact us.

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