On December 12th 2023, Hungary's Parliament gave the green light to an innovative immigration law, unveiling an enticing golden visa initiative tailored for investors. While the original bill underwent a few tweaks, mostly about filing deadlines, the core essence of the "guest investor" program remains remarkably advantageous and unchanged.
With the 2023 changes on the Portuguese Golden Visa eligibility criteria, the Hungarian program comes as an attractive option for those seeking their European Golden Visa.
The Hungarian Golden Visa Program
The "Guest Investor" program, as it is called, has defined the specifics for those seeking Residency alternatives in Europe. The program allows investors and their family members to obtain Hungarian residency for a period of ten years, with the possibility to renew for an additional ten years.
Investment options are:
- Purchasing 250,000 EUR on bonds from a real estate fund approved by the Hungarian National Bank (MNB).
- Buying Hungarian residential property worth 500,000 EUR.
- Donating 1 million EUR to a specified educational or cultural institution.
It's important to highlight that while the law will activate January 1st, 2024, there will be an adaptation period for Hungarian Immigration Authorities. It's anticipated that applications will start being accepted from July 1st, 2024.
It is crucial to complete investments sooner rather than later so, when available, lawyers can the Golden Visa request first hand to avoid processing-delays due to expected overcrowd.
Contact Lincoln Global Partners to review an extensive portfolio of Real Estate options in the country and get started.
Why Invest in Hungary?
Hungary, nestled in the heart of Europe, captivates with its rich history, stunning architecture, and vibrant culture. From the majestic Danube River winding through Budapest to the charming towns steeped in tradition, Hungary offers a tapestry of experiences.
Renowned for its thermal baths, delectable cuisine, and a thriving arts scene, this country seamlessly blends old-world charm with modern allure. Whether exploring UNESCO World Heritage Sites, indulging in savory goulash, or immersing oneself in the lively festivities — Hungary beckons with its unique blend of beauty and hospitality. Undoubtedly, it is an enchanting destination for any traveler and an exceptional second home destination.
When investing in the Golden Visa, investors will enjoy the following benefits:
- No minimum-stay requirements;
- Both applicant and family members are allowed to study and work in the country;
- Visa-Free access to the 26 countries in the Schengen Area;
- 10-year Residency, renewable for another 10 years.
Click here to book a free consultation call and understand which Golden Visa program suits you best!
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