Applications open for the Hungarian Golden Visa Program
Hungary again offers investment residency. Applications are now officially open, so you can already take the first step towards EU residency.
Program launch: 1 July 2024
The Hungarian Golden Visa Program (officially called the Guest Investor Program) proposed just last November has just launched. Starting 1 July 2024, you can already submit your application for the first step of the program that will lead to 10 years of residency for yourself and your closest family members.
The procedure has 3 main steps:
- Apply for a guest investor visa
- Travel to Hungary to make the investment
- Apply to guest investor residency for yourself and your family members
Hungary promises a much shorter procedure compared to other EU countries with similar programs: just a few months as opposed to 18-24 months. However, it is imperative to get started as soon as possible so can get an appointment in time.
How to get started?
To apply for the guest investor visa, you will need to decide which investment option you are interested in, and make a declaration on your intentions. You have 3 options to choose from:
- EUR 250,000 investment in the bonds of a real estate fund
- EUR 500,000 investment in residential real estate (coming soon)
- EUR 1 million donation to a designated higher education institution
You will also need a proof of funds, showing that the required amount of money is available to you, alongside with a proof of income showing the origin of those funds.
Use your guest investor visa
Once you receive your guest investor visa, you will have 3 months to travel to Hungary, make the investment, and apply for residency. Unlike other types of visas, the guest investor visa lets you travel between Hungary and your home country not just once but as many times as you need. Moreover, it will remain valid for 6 months, supposedly until your residence permit is issued.
EU residency for 10+10 years
The Hungarian residence permit you receive through your investment will remain valid for up to 10 years, which is significantly longer than what other programs offer. Moreover, at the end of those 10 years you will have the option to renew your residency for another 10 years, even if you haven’t spent much (or any) time in Hungary.
The 10+10 years of validity and the no minimum stay requirement make the Hungarian Golden Visa program the best investment residency option currently available in Europe.
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