Hungary Golden Visa Program Reopened: Updated Information

After 6 years of absence on the lists, Hungary golden visa program will be again available in 2024. The project was introduced last autumn and the country again welcomes investors. As there are many differences to the previous requirements, here the basic criteria together with an explanation of the procedure are given.

Overview of Hungary's Golden Visa Program

Those who wish to get a Hungary Residence Permit have now a perfect reopened option for this. Golden Visa is a suitable choice for those who are ready to invest and cannot spend a lot of time in the state.

There are no additional requirements such as language tests and it is the easiest way to get a residence permit in Hungary. The latter opens up the European region to the person and broadens horizons for work, study, and joyful everyday life in a comfortable environment.

Updates and Changes in the Hungary Golden Visa Program

According to imigrant-hungary.com, the main changes in this program are concerned with costs. Earlier one could buy property for 155,000 euros for participation. Now, there are three ways to take part:

buy real estate funds for at least 250,000 euros;
purchase property for a sum higher than 500,000 euros;
donate 1 million euros to a local university.

The permit for residence is issued for 10 years and can be prolonged. In addition, there is no need to stay in the state during this period for the extension.

Eligibility Criteria for Hungary's Golden Visa

Those who wish to become holders of a Hungary Golden Visa should be:

Full of age.
Citizens of non-EU/EEA region.
With a transparent and legal source of income.
With valid health insurance.

The relatives of the main applicant are also eligible, including spouses, children, and dependent parents of both husband and wife.

The package of documents is minimal compared to naturalization and other means. The main thing is to prove the presence of sufficient funds and the source of income. When everything is good with this, it’ll be quite easy to prepare other files for submission.

Application Process for Hungary's Golden Visa

To obtain this permit, one should follow the next procedure:

Check the correspondence to the criteria and prepare the needed files.
Apply for a special Guest Visa for investors. It is given for 2 years. During this time, the applicant should visit the state and continue the application for a residency.
One gives the written confirmation of the participation in the program, confirms the legacy of the funds, and the presence of money for living in the state. Then, the investment is made according to the selected option.
After checking all documents, the authorities set the time for submitting biometric data.
The permit is ready within three weeks.

After 10 years, one can re-submit the application and prolong the stay for another 10 years.

Benefits of the Hungary Golden Visa Program

This state was always one of the hot spots for investors. Under the new conditions, the program remains attractive due to the following reasons:

Safe and reliable environment. One can rely on the proposed conditions and move the whole family after getting the permit. In 2023, the Global Peace Index ranked Hungary 17th. Thus, one can invest here without worries.
Low taxation. While buying property, one pays only 4% stamp duty. As for the corporate and income taxes, they are 9% and 15% respectively.
Unlimited business opportunities. One can work, launch companies, and open accounts in European banks. The threshold and rules for holders of this permit are low.
Free access to all states of the Schengen area. Paris, Milan, Vienna, and many other awesome locations can be reached quickly from Budapest. One can enjoy traveling all over the European continent as a local resident.
Eleven local universities are on the list of the best HEIs worldwide. Families with children appreciate this option, which grants future career opportunities.
The state boasts with its healthcare system and natural resorts, which are popular all over the world. At the same time, costs for medical procedures are lower compared to nearby countries.
Affordable and comfortable living. This state is not so expensive compared to the nearest locations.

Furthermore, there are many historical and touristic locations to enjoy here. The state has a unique culture, tasty cuisine, and a joyful environment.

Altogether, the local authorities did their best to create a competitive and attractive program for those who wish to fund in the state. The costs are moderate compared to other proposals. Moreover, the residency time is quite impressive.

Those investors who stay in the state for 8 years may apply for citizenship. Therefore, this program provides a perfect chance to get a passport and full rights after one-time funding.