What Is The Golden Visa Program?
In November 2023, Hungary reintroduced its Golden Visa program, providing investors from non-EU and non-EEA countries an opportunity to gain residency in Hungary through substantial investment. This initiative is intended to attract foreign capital while offering long-term residency benefits to investors and their families.
To qualify, applicants must meet specific investment criteria, selecting from two main options: capital while offering long-term residency benefits to investors and their families.
1. Investment in Real Estate Funds: Purchase of units in qualified real estate funds, with a minimum investment of EUR 250,000.
2. Donation to Higher Education: A significant donation of EUR 1,000,000 to a Hungarian public higher education institution for educational, scientific, or artistic purposes.
Applicants initially receive a “Guest Investor Visa” and must complete the chosen investment within three months of entering Hungary. Once the investment is fulfilled, the foreigner may apply for a residence permit. Upon fulfilling the investment requirement, investors and their families gain eligibility for a 10-year renewable residence permit.
1. Visa-Free Travel: Residency through the Golden Visa provides visa-free travel across 176 countries, including all Schengen Area nations, enabling convenient mobility within Europe. Residents may travel in these areas for up to 90 days within every 180-day period.
2. Residency for Family Members: The program includes provisions for family unification, allowing investors to bring spouses, children, and dependent parents. Hungary ranks 14th in the Global Peace Index (2024), making it one of the safest countries globally. Additionally, the cost of living, including real estate, is significantly lower than in many other European countries.
3. Business and Employment Opportunities: Golden Visa holders gain the right to work in Hungary, manage businesses, and establish companies, fostering personal and professional growth.
4. Investment Protections: The Hungarian government conducts extensive due diligence to minimize the risk of application rejection and ensure security for investors’ assets.
5. Access to Quality Healthcare and Education: Golden Visa residents have access to Hungary’s public healthcare system and reputable educational institutions, with options for international schooling for children of expatriates.
Hungary also offers high-quality wellness and spa facilities, including resorts at Hévíz, Debrecen and Lake Balaton, all supported by modern medical infrastructure.
Key Benefits of Hungry’s Golden Visa Program:
A long-term residence permit for guest investors may be granted to a third-country national whose entry and stay in Hungary is in national economic interest due to investments realized in Hungary.
Eligibility extends to:
- Non-EU and non-EEA citizens over the age of 18.
- Successful completion of due diligence and background verification checks performed at various stages in the process.
- Demonstrating sufficient means to support themselves and their family members, along with the willingness to disclose the source of wealth.
- Receiving approval from the competent authorities to buy residential property.
- Proving that they have the necessary means to purchase residential property in Hungary and to complete the purchase within a specified timeframe.
- Having health insurance or sufficient savings for medical expenses.
- Family members, such as spouses, children under 18, and parents financiallydependent on the main applicant or spouse.
Grounds for Rejection:
Non-compliance with Article 17.1 of the Law.
Absence of a valid travel document.
Lack of necessary authorization for return or onward travel.
Expulsion, entry ban, or any risk posed to public policy, security, national
security, or public health in Hungary.Being subject to an alert in the Schengen Information System (SIS).
Failure to maintain the investment.
Criminal convictions.
Serious grounds for believing the person has committed or intends to commit serious criminal acts, particularly within the EU.
Existing entry interdiction or ban issued by a Member State or Associated
State of the Schengen Implementing Convention.Absence of any required factual disclosure, such as false statements,
forged documents, or use of fraudulent means.
POTENTIAL CHALLENGES
- Document and Financial Non-Compliance: Failure to provide authentic, complete documentation or proof of legal fund origin may lead to rejection.
- Criminal Background: Any indication of criminal activity or threat to national security disqualifies applicants.
- Investment Maintenance: Golden Visa holders must maintain their qualifying investment to retain residency status. Failure to uphold the investment requirements may result in revocation of residency.
Real Estate Fund Investment:
Minimum Requirement: EUR 250,000.
Conditions: Funds must be registered with the Hungarian National Bank (MNB) and meet allocation requirements for residential property investments with in Hungary.
Higher Education Donation:
Minimum Requirement: EUR 1,000,000.
Purpose: The donation should support educational, scientific, or cultural projects at a Hungarian public higher education institution.
Guest Investor Visa applicants must provide:
A completed booking form, a signed data sheet for all applicants.
A full copy of the passport, including the outer cover, for all applicants.
A certified birth certificate with diplomatic authentication for all applicants.
A certified marriage certificate with diplomatic authentication, if applicable.
An original police clearance certificate with diplomatic authentication
from the country of habitual residence for the past six months, required for the main applicant and spouse.Proof of the legal origin of funds for investment.
Proof of availability of funds for the investment (e.g. bank savings certificate).
For real estate fund investments, the applicant must provide a share certificate in their name, issued by a manager or distributor registered with the Hungarian National Bank. This certificate must have a minimum value of €250,000 and a 5-year maturity period.
Personal Documentation:
Applicants and family members must provide:
- Passports
- Birth Certificates
- Marriage Certificates
Authenticated and translated.
Financial Proof:
Evidence of legal fund origin and available financial resources to support the investment.
Police Clearance:
Background checks are mandatory for applicants, requiring a police clearance certificate from the country of residence within the last six months.
STEP-BY-STEP APPLICATION PROCESS
1. Preliminary Due Diligence
Initial risk assessment to identify and mitigate potential application obstacles, ensuring a smooth application process. If issues are found, solutions like extra documentation or different investment programs are suggested.
2. Document Preparation and Submission
Legal support is provided for gathering, translating, and authenticating necessary documents for submission.
3. Guest Investor Visa Issuance
Upon preliminary approval, applicants receive a six-month Guest Investor Visa, allowing entry into Hungary to complete the investment.
4. Completion of Investment
Within three months, applicants must finalize their investment and submit the necessary evidence to the immigration office.
5. Biometric Data Submission
Once the investment is confirmed, applicants provide biometric data, including fingerprints and photographs.
6. Residence Permit Issuance
A 10-year renewable residence permit is issued, with the permit card sent to the applicant’s registered Hungarian address within 21 days.
Family Support and Educational Opportunities
Golden Visa holders may enroll their children in public or international schools. Several institutions, such as Central European University and Eötvös Loránd University, provide top-tier education accessible to expatriate families. Family members also have access to Hungary’s comprehensive healthcare system, which offers high-quality medical and wellness services.
Tax Benefits and Economic Opportunities
Hungary has competitive tax rates compared to other European countries. Investors benefit from tax reliefs, reduced real estate taxes, and corporate tax incentives if they choose to establish businesses locally. Hungary’s economic stability, strong ties with other EU nations, and central location make it an ideal business hub.
INDIVIDUAL COST CALCULATION
The complete cost of obtaining the Hungary Golden Visa includes all fees related to the application, processing, and legal requirements. The calculation varies based on the type of investment chosen and the number of family members included.
APPLICATION PROCESS
Assessment of Interested Parties (Sending data sheet + checklist via email).
Submission of Data Sheet, Booking Form, and Passport Copy via Email / per applicant.
Interested party submits the documents fully completed and signed (+10,000 EUR administrative fee).
Verification process (conducted by the central office).
Sending contracts.
Submission of contracts and certified copies of personal documents (+65,000 EUR fee) (birth certificate, marriage certificate, HOKOV, certificate of good conduct, ID card, CV, bank statement, origin declaration).
Evaluation (successful completion if there are no disqualifying factors).
Appointment scheduling at the respective embassy (depending on nationality).
Temporary Visa (6 months).
Entry.
Investment bond purchase.
Validation of the 10-year visa.
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