For those interested in securing a Golden Visa in Hungary, this article explains in depth the requirements you need to know about. 

The Golden Visa helps citizens of different countries obtain the right of permanent residence in Hungary. To become a participant in the Hungary Golden Visa programme, it is necessary to purchase real estate in the country for 250 thousand euros. Moreover, privileged rights may apply not only to the applicant but also to their children. It’s also worth noting that the acquired residence permit in Hungary will be valid for 10 years with this visa.

Holders of the identity document issued under the programme have the right to live in Hungary and visit all Schengen states for travel or business. It is possible to stay in these countries for up to 3 months every six months. Since Great Britain is not a Schengen country, you need to obtain a regular visa to visit this country.   

Overview of Hungary Golden Visa Programme

At the moment, the Hungary Golden Visa programme has only recently started. But despite this, it has already managed to gain huge popularity among wealthy lovers of freedom of movement. The numerous advantages of this initiative include:

• A high level of affordability - to manage the promised priorities, you will need to pay 250 thousand euros, (as well as a small fee). 

• The opportunity to travel to different parts of Europe with minimal restrictions - you can stay in any Schengen state for up to 90 days and make your next trip in six months.

• Several privileges are available thanks to the project in case of hostilities or other world cataclysms.

• Minimum bureaucracy: the procedure will take no more than 8 weeks if you deal with a responsible agency whose employees know their business well;

• No restrictions on origin - Iranians, Belarusians, and Russians are also eligible to participate.

• No need to stay in the country to obtain the document.

An application must be submitted to enjoy the benefits offered. In this case, the program participant can receive the necessary permit for himself and his family in three months..

Investment Options for the Hungary Golden Visa

Hungary became a part of the European Union back in 2004. Therefore, its popularity and authority among citizens who want to live in a civilized society are beyond doubt. Investment options for participants of the Hungary residency by investment:

• 250 thousand euros for real estate fund.

• 500 thousand euros for the purchase of real estate.

• 1 000 000 euros - contribution to the state fund.

There are no requirements to stay in Hungary. In addition, it is the most economical in terms of cost visa program in the EU countries, associated with real estate investments. It is also characterized by efficiency and minimum bureaucratic procedures. According to Vladlena Baranova, a leading expert in Immigrant Invest, the project of accelerated obtaining of a Hungary residence permit will be a leader among alternative offers in the near future.

Eligibility Criteria and Application Process

The programme imposes quite loyal requirements on the investor:

1. Legal age.

2. Absence of legal problems.

3. Ability to include a spouse in the application.

4. Second-line relatives can also be included in the application if they require constant care. 

There are no requirements for professional skills, age, or knowledge of the national language.

It is not difficult to apply for the required document. The participant has to prepare and send an application for the right to be a guest of Hungary, which will allow them to stay in the country for the first three months of six months. The investor has 93 days to invest in or purchase the projected objects, after which, if approved by the commission, they will receive a Golden Visa with the right to live in Hungary for the next 10 years. The processing is divided into the following steps:

• Submission of documents, including the application for participation, passport, papers certifying the applicant's financial means, etc...;

• Approval of the application by a special state commission - takes no more than 3 months;

• Payment of funds by the participant of the program or purchase of the real estate object;

• Obtaining the right to reside in Hungary for 10 years.

Programme participants who have lived in Hungary for 5 years at the time of application can obtain permanent residence in Hungary. 

Considerations for Investors

Hungary's Golden Visa programme has been successfully operating since the beginning of 2024, opening up one of the most promising areas for investment. The first requests for participation can be made as early as July 2024.

A huge plus of the Golden Hungarian visa is its accessibility, including for citizens outside the European Union. Numerous applicants of this document will benefit from a suitable investment microclimate, the availability of all social guarantees, and the issuance of a decision in the shortest possible time 

Hungary actively invites people who wish to contribute to its economic well-being today. However, since the Hungary Golden visa guide has only recently been in effect, participants should keep a close eye on new information regarding the conditions and benefits of the programme.