The Hungarian golden visa program is expected to go live in July 2024. It will offer three options to investors who wish to obtain 10-year EU residency for themselves and their immediate family members. While not every detail is defined just yet, we already know much.
If you are interested in obtaining Hungarian residency for 10 years, which will let you and your closest family members, meaning wife and underage children live, do business, and enter employment in Hungary, you have the following options:
Whichever option you choose, there is no minimum stay requirement attached to it. This means that you will be able to renew your residency upon expiry even if you do not spend the majority of your time in Hungary.
Moreover, you will become not become a tax resident automatically, unless you stay more than half of the time in Hungary (defined as more than 90 days in any 183-day period). Of course, if you do generate income in Hungary, that will be taxed in Hungary.
The law has empowered the government to come up with the details for each option. While we are waiting for those details, we already have the following information about the investment options of the Hungarian golden visa program.
The following conditions apply to investments in a real estate fund:
The investor is allowed to sell their bonds after 5 years. However, if they wish to renew their guest investor residency after 10 years, by that time they must make another investment that matches the requirements.
Read more about this option here.
The following conditions apply to investments in residential real estate:
The rules pertaining to property purchase in Hungary apply. This means that as a third-country national, you will need to ask the local municipality for a purchase permit, and pay a 4% property transfer tax. If you decide to rent the property out, you will need to pay taxes on that income too.
The investor is allowed to sell the property after 5 years. However, if they wish to renew their guest investor residency after 10 years, by that time they must purchase another piece of residential real estate that matches the requirements.
Read more about this option here.
The following conditions apply to donation made for a designated educational or cultural institution:
Since this is a donation, reimbursement is not possible. If the investor wishes to renew their guest investor residency after 10 years, they can do so without submitting any additional proof that conditions are still met.
Helpers is dedicated to offering up-to-date information about all things related to living, working, and doing business in Hungary. Naturally, this includes following the developments around the Hungarian golden visa. As soon as we know more, we will share the information with you.
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