Hungarian Residency Program FAQs
The following FAQs answer some of the most frequently recurring queries we receive regarding the Hungarian Residency By Investment program:
Civilizational cycles analyst Daniel Hood, founder of the Fortculture think tank, refers to Poland and Hungary as “biblical safe zones” – countries where Christianity and traditional family values provide shelter from the civilizational decay caused by temperamental degradation, particularly in Western countries.
And whilst Poland does not have a passive Residency By Investment Program (aka a Polish Golden Visa), Hungary does – in the form of the Hungarian Residency By Investment Program.
The countries is increasingly becoming popular as a bolt-hole destination for US and UK conservatives. Both Hood and Rod Dreher, a widely known conservative journalist and author, have made Budapest their homes in recent years.
No. While Hungary does offer a residency by property investment option, there is presently no instant Hungarian Citizenship By Investment program available.
There are, however, a limited number of direct citizenship options available in continental Europe, outside of the formal Malta Citizenship By Investment program. These opportunities tend to be highly discretionary, and priced in the low to mid seven-figure range.
As such, these options only tend to appeal to high net worth individuals.
For more information on the available options for European Citizenship By Investment, contact us now.
What are my alternative options in Hungary?
However, non-EEA (European Economic Area) citizens can obtain a Golden Visa type residency in the country by acquiring a completed residential property worth at least ~€150,000 (HUF 56 million).
(NOTE: Hungary only ever had a formalized Residency By Investment program known as the Hungarian Bond Program – NOT a Citizenship By Investment or “CBI” program. This Golden Visa option, which required a government bond purchase of €300,000, was terminated in 2017, despite the program enjoying immense international popularity. Having said this, it is common industry knowledge that a significant volume of foreign nationals have acquired Hungarian citizenship on the basis of significant investment at various points during past decade+.)
While the Residency By Property Investment program does not require you to spend ANY time in the country (i.e. 0 days per year), it is worth noting that this option does NOT offer a simple path to eventual citizenship. In addition, the property has to be residential and fully completed (i.e. immediately ready to live in).
Also, the property may not be rented out, and you will need to maintain ownership of the residence throughout the duration of your Golden Visa residency.
This is a temporary residency permit. It is issued with a 5-year validity for the primary applicant, and for 3 years at a time for dependents (spouse and minor children). While it is NOT a permanent residency permit, it can be indefinitely renewed for as long as you own a Hungarian property worth more than ~€150,000.
The program has the lowest price point of all the European Golden Visa programs. It must be noted, however, that the governmental processing fee is €30,000 per family. (This is also the processing fee for individual applicants and married couples.) In addition the processional services and due diligence fee for the program is €30,000 per family (primary applicant, spouse and minor children).
For every additional adult dependent included in the application, an additional €10,000 fee applies.
The program does not have any minimum personal net worth requirements.
It must be noted, however, that in addition to the ~€150,000 capital required for the property, you’ll also have to prove that you have the means to support yourself and any dependents while living in Hungary.
The additional savings requirements are as follows:
- Primary applicant: €27,000
- Per additional dependent: €16,000 each.
To find out more about the program, click here.
No. While there is no mandatory medical test required for the residence permit application, applicants will, however, have to obtain valid health insurance. Feel free to get in touch for more information on this topic.
As of 15 May 2023, there are no intake volume restrictions on the program. And while there aren’t presently any processing backlogs, interest in the program is growing by the day, which could lead to longer processing times in the mid-term.
Unlike with most of the EU Golden Visa programs, the Hungarian Residency By Investment program is open to all nationalities, including Russians, Iranians and Belarusian nationals in 2023. However, there may be different documentary requirements for certain nationalities. Feel free to get in touch for more information in this regard.
To apply for a Hungarian temporary residence permit, applicants must meet specific requirements. Applicants must:
- Pass due diligence and background checks conducted at different stages of the application process.
- Show evidence that they possess sufficient funds to support themselves and their family members (if applicable). A minimum of €27,000 is required for the primary applicant, and €16,000 for each dependents.
- Be willing and able to provide information confirming the legitimate origins of their wealth.
- Obtain authorization from the competent authorities to purchase residential property in Hungary with a minimum value of ~€150,000 (HUF 56,000,000), based on prevailing market rates for program-eligible properties.
- Qualifying properties must meet particular criteria, such as being completed and residential, with at least 6 sq. m of living area per person (excluding non-living spaces like corridors, bathrooms and the kitchen).
- Prove that they have the financial resources to buy residential property in Hungary.
- Complete the full purchase of the property within 90 days of receiving their Hungarian ID card.