The Hungary residency by investment program attracts a large number of investments that are highly boosting the economy of the country. Many affluent individuals seek residency in Hungary, the central European country due to its strong economic growth and multiple business and lifestyle opportunities. Furthermore, Hungary provides a very investor-friendly program that costs less than many other European golden visa programs.
Hungary has a very high Human Development Index (HDI) of 0.870, even better than many countries such as China, Russia, and Malaysia. This demonstrates the country’s efforts toward providing a safe, secure and healthy lifestyle to its people. Many business owners and entrepreneurs can benefit from living in Hungary due to its strategic location between the Western and Eastern European markets. This provides trade opportunities to people and makes it one of the desired countries for residency by investment.
Overview of the Hungary Residency by Investment Program
Understanding the Program and its 2024 Relaunch
To allow high-net-worth individuals to reside in Hungary, its government relaunched its golden visa program on July 1, 2024 that was named as the Hungarian Guest Investor Program (GIP). The program after relaunch provided investors with the real estate investment option in government-approved funds that requires €250,000 and is much less than the previous investment threshold of €300,000 under the Hungary golden visa program that ended in 2017.
The Program grants a 10-year residency permit to non-EU/EEA nationals that want to reside, study, and work in Hungary by either investing in the approved real estate funds or donating to the Hungary-based institutes. The investors get a chance to live in one of Europe’s best residency destinations and the government benefits from the investments that are beneficial for economic growth of the country.
A Renewed Pathway to Europe
Hungary by launching its golden visa program or guest investor program creates new pathways for wealthy individuals to get residency in Europe. The 10-year residency permit granted to citizens under the Hungary golden visa is renewable and provides investors with the ability to fulfill their dreams.
Key Features of the Hungary Golden Visa
Hungary provides various main benefits to global investors that invest in the Hungary golden visa program including:
- 10-year Residency Right
- Flexibility for families and dependents
- Long Term Residency
- Pathway to Citizenship
- No Mandatory Stay Requirement
Investment Routes for the Hungary Golden Visa
Real Estate Investment Route
If you are an investor who seeks the most affordable path, this is the right investment route for you as it requires a minimum €250,000 investment in an approved real estate fund. At least 40% share of the government-approved funds must be for the residential real estate sector in Hungary.
Donation Route
The Investors by donating to an educational institute in Hungary that provides higher-education to people and support the research activities also makes them qualify for the Hungary residency by investment program. This option requires an amount of €1 million as a charitable contribution.
Significant Benefits of Hungary Residency By Investment
Access Across the Schengen Zone
The residents of Hungary can travel visa-free to the EU Schengen Zone which includes 29 member states. This provides the business owners and entrepreneurs with travel freedom and mobility that is beneficial for business expansion and exploring International business markets. Moreover, they do not have to wait for the visa application process completion as it does not require any visa.
Affordable Investment
The Hungary golden visa provides affordable investment options compared to many other European golden visa programs such as the Portugal Golden Visa (€500K). The country provides relief to investors seeking lower cost programs but with many opportunities.
Family Inclusion
The Hungary guest investor program allows the main applicant to include family members such as the spouse, dependent children (under 21, dependent or unmarried ) and dependent parents in the Hungary golden visa application.
Pathway to Citizenship
After 8 years of tax residency in Hungary, the investors can also apply for Hungarian citizenship and enjoy long term benefits and stability in this beautiful European country.
Lifestyle Advantages
The overall cost of living in Hungary is around 40 – 50% lower than in the UK and Germany but it provides a peaceful environment to its residents. The country ranks 14th as per the Global Peace Index hence provides security and a relaxed environment to people living in it.
Eligibility Requirements to Qualify for Hungary Residency
Criteria for the Main Applicant
- Must be of 18 years age or above, i.e, adult.
- Be in a good health condition.
- Not involved in criminal activities.
- Provide proof of investment to authorities.
- Do not belong to the banned countries.
Dependents who are Eligible
- The main applicant’s spouse.
- Minor/Unmarried/Financially dependent children.
- Dependent parents of age above 65.
Conclusion
Hungary Golden Visa program is and will remain an appealing choice for global investors mainly due to its real estate investment option introduced after its relaunch. It provides an affordable route to Europe that opens doors to multiple business and lifestyle opportunities.
