Hungarian Golden Visa Program FAQ

Since the Hungarian Golden Visa program has already launched, some questions asked previously have now been answered by the Immigration Office. Below your can find the most frequently asked questions and the answers to them.

Some questions about the Hungarian Golden Visa program:

Can I submit my application for the guest investor residence permit if I am already in Hungary?

It depends on your status in Hungary. You can only submit your residency application in Hungary if you already have another type of Hungarian residence permit AND you could enter Hungary without a visa based on your nationality.

If you already have another type of Hungarian residence permit BUT you could not enter Hungary without a visa based on your nationality, you must apply for the guest investor visa before your could apply for the guest investor residence permit.

How much time do I have to spend in Hungary?

There is no minimum stay requirement connected to the Hungarian Golden Visa Program. You will have to come to Hungary at least once to realize the investment, but apart from that, you decide how much time you want to spend in Hungary.

Even when your residency expires, the Immigration Office will not check how much time you have spent in Hungary, and you will be able to renew your residency for another 10 years even if you have spent no time in Hungary. This is a major benefit compared to other types of residence permits, which usually require that you spend most of your time in Hungary (183 days within any 365 days).

Can I retry if my application is rejected?

Yes, you can apply again, both for the guest investor visa and the guest investor residence permit. The reasons for which your previous application was rejected will be evaluated again, and if the situation has been amended (e.g. you submit previously missing documents, or you make the investment that you failed to make on time for the first time), you have every chance for your application to be approved.

Can I work in Hungary as a golden visa investor?

Yes, you can enter employment in Hungary – both you and your family members. Third-country nationals usually need a work permit that is tied to their employer, so if they switch jobs, they must apply again. This is not true for residence permits received in the Hungarian Golden Visa Program, however; you and your family members can freely start a job or a business without a special permit.

Please note: If you start a job, your employer will need to report that to the immigration office. For this reason, make sure you discuss your status with them before you start your new job.

For the EUR 250,000 investment, what kind of bonds can I buy?

The available bonds and real estate funds have not yet been listed. So far, the following criteria will apply to the eligible fund managers:

• The fund manager must be listed as a designated market operator
• The fund manager must be entitled to manage an AIF (alternative investment fund) in which the value of assets is at least above EUR 100 million, or above EUR 500 million if they are not leveraged and do not grant investors redemption rights during a period of five years.
• If the fund manager is not entitled to manage an AIF, it must be managing at least one fund where the value of assets is above EUR 600 million.

Moreover:

• You will need to keep the bonds for at least 5 years
• At least 40% of the real estate fund must consist of residential real estate in Hungary

If you want to learn more about investing in a real estate fund, click here.

Do you have any other questions?

If your question was not in the above list, there is a chance you can find the answer in one of our previous blog posts on the topic. In any case, feel free to contact us and ask your questions yourself.

Our expert team of 20+ professionals is keeping an eye on the developments. If you don’t want to miss out, follow us on Facebook, or sign up for our newsletter for updates.

The post Hungarian Golden Visa Program FAQ appeared first on HELPERS.