Hungary Golden Visa Program Overview: Investment Options

Hungary residency via investment was available until 2017 with a lower threshold of 300,000 euros. After 7 years of its suspension, the local authorities decided to renew the project with another requirement. The launch is planned for July 2024. Take your time to learn more about this option, its main features, and its benefits.

Overview of Hungary Golden Visa Program

Every eligible and full-of-age person who is ready to invest in the local economy will be able to obtain a Hungary residence permit for 10 years starting from July 2024. This was a decision of local authorities who renewed this program after 7 years of its suspension. Now, Hungary is again interested in those who wish to support its economy and profit from the offers and opportunities related to it.

According to the announcement, the investment may be selected from the following options:

• purchasing government bonds for 250,000 euros;
• buying local real estate at a minimum rate of 500,000 euros;
• donate to a cultural or educational institution 1,000,000 euros.

These are some of the most appealing proposals among European countries. Only Greece has a similar low threshold, while others increase the rates.

Those who purchase bonds should take into account the following:

• the local bank has to register the fund;
• 40% of it should belong to property-related projects;
• bonds cannot be sold earlier than 5 years.

While buying the real estate, the next rules are applied:

• only residential projects can be considered;
• it should be uncontested;
• the holder should keep it for 5 years at least.

The applicant can be a single owner or share this property with relatives included in the application. Those who are not going to live in it, are free to rent it. The taxation rules will be a bit different in these cases but more precise rules will be published later.

As for the third donation option, its features are as follows:

• the chosen institution has to be managed by a public foundation;
• only higher education institutions are applicable and their full list is going to be published later.

The renewal of residency obtained under this option does not require any additional funding.

Therefore, the choice is quite decent and gives the chance for everyone interested to select the best option and profit from it.

Benefits of the Hungary Golden Visa

According to imigrant-hungary.com, the Hungary Golden Visa program will have the following advantages:

• three options for funding and low threshold;
• the possibility of renewing the permit every decade, in case the investment is still working;
• no limits for nationalities that can take part in the program;
• affordable taxation for business;
• no need to stay inside the country for some period of time;
• free access to the majority of European countries;
• the perfect chance to include all relatives in one application;
• quick consideration that takes from 4 to 8 weeks.

Furthermore, it’s worth mentioning the local vibrant culture and rich traditions, as well as the pleasant climate and numerous natural beauties. This country boasts stability and safety. Thus, legal investors can be sure of the security of their funds and their increasing value.

Those who are interested in expanding their business in the European region will profit from this offer. It provides quick access to this area without limits and restrictions.

Eligibility and Application Process

For now, the basic criteria for inclusion in this program are set as follows:

• the candidate must be full of age;
• he or she has to be ready to make the chosen funding right after the approval of documents;
• the participant has to provide data that proves good health and a clean criminal record.

The nationality is not taken into account. The applicant is also able to include close relatives. This will be associated with additional costs but they are not revealed for now.

As for the procedure itself, the submission will proceed through the dedicated local authorities. The expected time for consideration will be from four to eight weeks. At first, the candidate gathers all the needed documents and pays processing fees. Then, his application will be studied carefully.

In the case of approval, the participant has to perform the chosen transaction shortly. After that, he or she is granted the permit for 10 years. If during this period, the resident does not sell the property or bonds, it will be possible to renew the permit for another 10 years. No other limitations are planned.

Conclusion

To conclude, this program has already attracted a lot of attention and interest. The local authorities developed favorable conditions. Thus, they can wait for many participants and this will grow their economy even more.

If you are interested in exploring of European region and discovering its opportunities, then follow the news on the launch of this option and consider participation. It is definitely one of the most straightforward ways toward European citizenship.