Frequently Asked Questions
What is the minimum investment required in the Golden Visa Program?
Realisation of the following investments shall be considered as national interest:
I. Acquisition of an investment fund share of at least 250,000 EUR issued by a real estate fund registered by the Hungarian National Bank (MNB), only one Fund Manager has the official MNB certificate which is called SPRINT ASSET Hungary.
II. Provision of a financial donation in an amount of at least 1,000,000 EUR and for a purpose of educational, scientific research or artistic creation activities, to a higher education institution maintained by a public trust with a public-service mission, in effect as of 1 July, 2024.
Can I apply for a permanent address after I get the Golden Visa?
Yes the Golden Visa Program provides a 10-year residence permit after the investment is completed, which can be renewed for another 10 years. Before the investment is completed, applicants are granted a 6-month temporary D-visa.
After the first entry, applicants are required to complete the chosen investment option within 3 months, otherwise the temporary residence permit will be revoked.
The Golden Visa is obtained through a designated company that carries out all administrative procedures, including government consultations and legal procedures.
Does the residency permit include children or other family member?
Yes, the residency permit covers the main applicant, their spouse, and dependent children under 18. Additional fees apply for more than five family members. Children above 18 need to verify that they are dependent from the main applicant. The same applies for grandparents. These family members are typically granted residency based on the primary applicant’s status.
How much time do I have to spend in Hungary if I get the residence permit?
There is no strict requirement for continuous presence, but maintaining residency benefits requires regular visits, and longer stays are necessary if pursuing citizenship.
Can I apply for citizenship after 8 years? Does this 8-year period start from the beginning of temporary residency or permanent residency?
Citizenship can be applied for after 8 years of continuous legal residence. The 8-year period begins from the start of temporary residency, not permanent residency.
With residency, one can access bank loans. Is this also possible with temporary residency?
In Hungary, residency (whether temporary or permanent) generally allows access to bank loans. However, terms and availability may vary depending on the bank.
What is required for adult children over 18 years old when legal spouses and children under 18 are covered?
For adult children over 18, they are eligible for residency if they are under 25, financially dependent on the main applicant, have no income of their own, and are enrolled as full-time students.
Is it necessary to prove the financial capability to support the family?
Financial capability needs to be proven when applying for family residency, but the criteria for this are not clearly stated anywhere.
Applicants need to demonstrate financial capability when applying for family residency. Although specific thresholds are not always published, the requirement is generally to show sufficient resources to support the family, often through proof of income, savings, and especially that they have available funds to fullfill the chosen investment.
If one of the parents is the legal guardian of a child, the consent of the other parent must be provided.
If one parent is the legal guardian of a child, the consent of the other parent is required for the child’s residency application. This ensures there is no conflict regarding the child’s residency status.
How much is the property purchase tax in Hungary?
Property purchase tax is 4% and is paid once upon the transfer of ownership.
Can I legally buy property in Hungary with a residence permit?
Yes, residency permits allows for property purchases.
Can I retry if their application is rejected?
Yes, applicants can retry, but the reasons for the rejection must be addressed.
Reasons for rejection include incomplete documentation or failure to meet legalrequirements.
Can I work in Hungary as a Golden Visa investor?
Yes, residency permits typically include the right to work in Hungary.
Can I set up a company in Hungary if they get the residence permit?
Yes, residents can establish businesses in Hungary, and the Hungarian residency program encourages investments that could contribute to the economy.
Who will deal with these customers in Hungary? Do you have anybody to receive customers in Hungary?
Credence Co. Consulting, along with its partners and principals, handles all communications and coordination with the relevant parties in Hungary. This includes managing the application process, liaising with government authorities such as the National Directorate-General for Aliens Policing, and ensuring that customers are supported throughout the process. Upon visa approval, the customer can enter Hungary with a temporary visa.
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