BREAKING NEWS: Bloomberg reports that Hungary has just submitted a draft law aiming to regulate the immigration of third-country nationals to the country. The draft law makes provision for the introduction of a new Golden Visa with a ten-year residency permit validity. The program is already informally being referred to as the Hungary Guest Investor Program.
Provided that the draft immigration law is passed and promulgated without material amendments, the new Golden Visa program will offer the following investment options in 2024:
- €250,000: Hungarian Property Fund
- €500,000: Hungarian Real Estate Acquisition
- €1 million: Donation To A Hungarian Public Trust.
While the law has not been passed yet, the Viktor Orban’s ruling party, Fidesz, has an outright majority in parliament, hence the draft law being adopted in its current format is very likely.
This is a developing story, and we will update this page as soon as more official information becomes available about the program.
Are you considering acquiring an alternative European residency option or “Plan B”?
If so, the new Hungarian Guest Investor Program might be the perfect solution for you. This residency program provides a simple, straightforward path to obtaining Hungarian Residency – without the need to spend a single day in the country, ever.
Under this program, successful applicants are granted a residency permit that is valid for 10 years, and renewable for an additional 10 years.
One of the greatest advantages of this program is that it does not impose any mandatory minimum annual stays in Hungary. And as of May of 2024, it stands out as the most affordable property-based Golden Visa option within the European Union.
Considering the significant delays in application processing observed in Portugal (and now in Greece, too), coupled with uncertainties surrounding the future of the Portuguese Golden Visa program, many industry experts anticipate that Hungary may emerge as the leading Residency By Investment program in 2023 and beyond.
Let’s delve into the key benefits offered by Hungary’s Residency By Investment Program, which is poised to become a global best-seller:
- Experience a streamlined application process and receive your approval and residency ID cards within just 4-6 weeks.
- You will only need to purchase a qualifying property once your residency permits are approved, and your ID cards are in your possession. And then, you’ll have 3 months in which to complete the acquisition (else your residency will be automatically cancelled).
- There are restricted nationalities, meaning that citizens of Russia and Belarus are also eligible to apply.
To explore the benefits of the Hungarian Residency By Investment program, contact us now to schedule a free discovery call.
Let’s look at the program requirements in more detail below…
Why choose the Hungarian Residency By Investment Program?
THE ULTIMATE
EUROPEAN PLAN B
In a time of wars and pandemics, a second home in another country can be a priceless asset.
MOST AFFORDABLE
EU GOLDEN VISA PROGRAM
Secure your Hungarian Plan B residency AND from just €250K excluding fees (Real Estate Fund Option).
OBTAIN RESIDENCY
BEFORE PURCHASING A PROPERTY
Receive residency approval and your Hungarian ID cards before buying a home.
ENJOY VISA-FREE
SCHENGEN TRAVEL
No more EU visa applications: Enjoy visa-free travel to the Schengen Area with your family.
FASTEST RESIDENCY
APPLICATION PROCESS
On average, the entire application process and ID card issuance is completed within just 6-8 weeks.
NO MINIMUM IN-COUNTRY
STAY REQUIREMENTS
Unlike Portugal, Hungary doesn’t require its Golden Visa residents to spend ANY time in the country.
OPTIONALITY +
POLITICAL HEDGDING
As a new multipolar world order emerges, Hungary is positioning itself for prosperity.
OWN THE
EUROPEAN LIFESTYLE
Spend as little or as much time in Hungary as you choose. Move there, or just have the option to.
ALL NATIONALITIES
ELIGIBLE TO APPLY
The program is open to all nationalities, including Iranians, Russians and Belarusians.
Also note that Hungary has the lowest corporate tax rate in the OECD – just 9%.
In addition, the country offers a flat personal income tax system, and its Controlled Foreign Corporation rules are better-than-average.
How does the Hungarian Residency By Investment program compare to other Golden Visas?
| Program Specifics | Hungary Residency By Investment Program | Greek Golden Visa | Latvian Golden Visa | Portuguese Golden Visa | Spanish Golden Visa |
|---|---|---|---|---|---|
| Minimum Capital Outlay | €250,000 (RE Fund Option); €500,000 (RE Purchase); | €250,000+; €400,000+; €800,000+; |
€250,000+ | €500,000+ (GV Fund) | €500,000+ |
| Asset Type? | Real Estate Fund or Property Purchase | Residential / Commercial | Residential / Commercial | Residential / Commercial | Residential / Commercial |
| Application Process Duration? | 2 Months (6-8 weeks is typical) | 2-3 Months | 3-4 months+ | 12-18 months+ | 2-3 Months+ |
| Initial Residency Permit Valid For? | 10 Years, and renewable for an additional 10 years | 5 Years | 5 Years (But ID cards annually renewable) | 2 Years | 3 Years |
| Are All Nationalities Eligible? | Yes | Yes – But T&Cs apply | No | No | Yes – But T&Cs apply |
| Additional Savings Requirement? | Yes | No | No | No | No |
| Minimum Net Worth Requirement? | No | No | No | No | No |
| Minimum stay requirement? | No (0 Days Per Year) | No (0 Days Per Year) | No – But annual visits required to renew your ID card (7-14 day process) | 7 Days Per Year (On Average) | No (0 Days Per Year) |
| Path To PR/Citizenship? | Yes – but very challenging | Yes – but very challenging | Yes – but very challenging | Yes | Yes |
| Local employment allowed? | No – But you can start a company there | No | No | Yes | Yes |
| Can you rent out your property? | TBC | Yes | Yes | Yes | Yes |
Pros and cons of the Hungarian Residency By Real Estate Investment program
| PROS | CONS |
|---|---|
| THE fastest EU Golden Visa Program – residency cards issued in 4-6 weeks | You can’t get local employment in Hungary (but you CAN start a business). |
| The cheapest Golden Visa program for the property option from only €250,000 (RE Fund option) | Difficult path to Permanent Residency and Hungarian citizenship. |
| Exceptionally livable, centrally situated EU country with a relatively low cost of living | Fairly insular culture. |
| The ultimate Plan B option – a fast application process, great, affordable lifestyle, and no minimum in-country stay requirements. | Russians and Belarus nationals can apply. |
| The parents of the main applicant and their spouse, as well as unmarried, financially dependent children are eligible for inclusion under the program. | If buying property, the unit cannot be acquired using a mortgage loan. |