We believe in
Collaboration, Future
and Innovation.

Hungarian Golden Visa

Attain Hungarian Golden Visa: 2024 Real Estate Purchase Program for Permanent Residency

The Hungarian Parliament has adopted a new regulation launching a Hungarian Golden Visa ‘guest investor residence’. This program offers investors 10 years of residence under preferential conditions through the purchase of real estate in Hungary. The minimum investment amount is €250,000 and the investment must be made within 90 days after the approval of the visa application. As the law is still very new, we will be updating this article as the details become clearer.

1. How to get a Hungarian Golden Visa to buy real estate in Hungary?

Hungarian Golden Visa: Application process

  1. Hungarian Golden Visa – The first step is to apply for a guest investor visa, which is valid for a maximum of 2 years, after Hungary declares that you will participate and invest in this program.
    “It gives the right to stay in Hungary for more than ninety days within one hundred and eighty days and to enter and apply multiple times.” -Guest investor residence permit on the territory of Hungary.
  2. Hungarian Golden VisaSecond Step: Guest Investor Residence Permit (10 Years) after making an investment
    The guest investor residence permit does not have any residence restrictions.
    The applicant and his/her family have the same right.

Hungarian Golden Visa and Real Estate: Investment Options of the Guest Investor Program:

  • €250,000 REAL ESTATE FUND INVESTMENT: You can invest €250,000 in real estate bonds issued by a real estate fund registered with the Central Bank. These funds will be announced in the coming weeks.
  • REAL ESTATE INVESTMENT OF €500,000 You can directly invest at least €500,000 in residential real estate in Hungary.
    To reach the €500,000 value, no more than one property can be added (this will be further clarified in the future)
    – Property you have already purchased is not included, because according to the law, the transfer and encumbrance ban must be registered at the same time as the purchase and cannot be done later.
  • €1,000,000 DONATION: You can donate €1 million to Hungarian public interest projects through designated asset management foundations.

Requirements for Hungarian Golden Visa through Real Estate:

  • Being a citizen of a non-EU country and having a valid passport,
  • Be able to invest at least EUR 250,000 (if Bond),
  • To be able to pass a mandatory national security check by the Hungarian authorities,
  • Make the investment within 3 months, (in case of a guest investor visa you have to make the investment within 90 days after entering Hungary),
  • Have sufficient economic power to stay in Hungary.

At Gurcan Partners, we can help you make informed decisions regarding your Hungarian Golden Visa and investment by informing you about the complexities and the latest developments in the legal procedures for buying real estate in Hungary. If you have any questions or require further guidance, please feel free to contact us by email at [email protected].

Hungarian Golden Visa
Hungarian Golden Visa

2. Hungarian Golden Visa and Real Estate: Investor Residency and Guest Investor Visa

Hungarian Golden Visa – Guest investor visa: It entitles you to stay on the territory of Hungary for more than ninety days within one hundred and eighty days and to enter multiple times and apply for a guest investor residence permit. Normally, a type C short-term visa allows you to stay for a maximum of 90 days in 180 days, while with this visa you can stay for more than 90 days. The logic of this visa is to enable investors to come without visa problems and choose the real estate they are looking for within 90 days.

So far we have assisted over 400 companies.

A third-country national may obtain a guest investor visa in the following cases

  • Those whose entry and stay is of national economic interest due to their investments in Hungary,
  • Those who meet the general conditions for permanent residence in Hungary (e.g. hold a valid travel document according to this law),
  • Declares that it owns or plans to own at least one of the investments,
  • Proof of legal assets in Hungary in an amount corresponding to at least one of the investments, which must be current or transferable,
  • who has given a written undertaking that he/she undertakes to make at least one of the investments of the amount and type specified in the law within three months following his/her entry into the territory of Hungary with a guest investor visa.

Our professional team is specialized in the establishment and maintenance of foreign businesses and investments in Hungary. Contact us and we will assist you in registering your company.

According to the law, the implementation of the following investments will be considered in the national economic interest:

  • Acquisition of investment certificates in the amount of at least EUR 250,000 issued by a real estate fund registered with the National Bank of Hungary,
  • Acquisition of ownership (except for the prohibition of alienation and encumbrance) or acquisition of ownership in residential real estate naturally located in the geographical area of Hungary and registered in the real estate register according to its geographical number, free from litigation, encumbrances and claims, with a value equivalent to at least EUR 500,000 or,
  • To make a cash donation of at least EUR 1,000,000 to a higher education institution operated by a public benefit foundation that performs a public duty to support education, scientific research and artistic creative activities.

In order to protect the public order, public safety and national security of Hungary, the immigration enforcement authority requests the opinion of the Hungarian law enforcement and national security agencies on the guest investor visa application.

The guest investor visa is valid for a maximum of two years. The Hungarian Golden Visa – guest investor visa is invalid if a guest investor residence permit has been issued.

Our team will assist you with all requirements.

The new immigration law with the Hungarian Golden Visa for Investors will come into force on July 1, 2024.

Guest investor and Hungarian Golden Visa, (Golden Visa/Residency)

This type of residence permit is a residence permit that entitles the holder to reside in the territory of Hungary and to carry out activities that may be carried out independently for remuneration according to the law or to carry out activities as a senior manager. They may be an officer of a commercial company, cooperative or other legal entity established for the purpose of generating income.

The guest investor residence permit and the related residence permit issued for the purpose of family unity entitle the holder to work on behalf of or under the direction of another person on the basis of a legal employment relationship. Taking into account, the third-country national has the right to work in Hungary without restrictions. In summary, with the Golden Visa for Hungary you gain not only the right to reside but also the right to work.

Gurcan Consultancy offers a wide range of consulting services to serve as your strategic partner, helping with everything from corporate accounting to managing your tax filings, all aimed at promoting the growth of your business.

A third-country national can obtain a Hungarian Golden Visa – guest investor residence permit (Hungary Golden Visa/Residency) in the following cases:

  • Their entry and stay is of national economic interest due to their investment in Hungary and they hold a valid guest investor visa.
  • The application for a Hungarian Golden Visa – guest investor residence permit is submitted by the holder of a guest investor visa or a citizen of a third country by virtue of Article II of Regulation (EU) 2018/1806 of the European Parliament and of the Council. As a citizen of a third country listed in its Annex, he/she submits it to the competent immigration enforcement authority or through the immigration enforcement electronic interface no later than 93 days after the first legal entry into the territory of Hungary and the fulfillment of the obligation (guest visa must be invested in 90 days followed by an application for Golden Residency).
  • The guest investor residence permit has a maximum validity of ten years and can only be extended for the same purpose. The validity period of the guest investor residence permit may exceed the validity period of the applicant’s travel document.
  • If a third-country national applies for the issuance of a guest investor residence permit, he/she must, within three months of entering the territory of Hungary, confirm, through the electronic interface of the immigration authorities, that his/her declaration is correct according to the law and complete the investment undertaken pursuant to his/her declaration. (Proof of completion within the set period is examined by the immigration enforcement office).

 

The investor’s family will also be eligible for the same residence under the Hungarian Golden Visa for Investors. Hungary is in the Schengen Area and the relevant residence gives the right to free travel in the Schengen Area of the European Union.

Hungarian Golden Visa
Hungarian Golden Visa

The third-country national must hold an investment certificate issued by a real estate fund for at least five years in order to fulfill the provisions of the law. At least 40% of the net asset value must consist of investments in real estate in Hungary and the manager of the real estate fund must have at least a simplified site security certificate or a certificate for defense and security acquisitions. 

If €500,000 of real estate is purchased and an Investor Visa is obtained, the real estate must not be sold for 5 years.

(Source: https://uj.njt.hu/jogszabaly/2023-90-00-00 22/11)

A third-country national holding a Hungarian Golden Visa – guest investor residence permit must notify the immigration police through the electronic interface within five days of the occurrence of a change in the data on which the guest investor’s residence permit is based for verification in accordance with the law within the validity period of the guest investor’s residence permit.

The extension of the guest investor’s residence permit may be authorized in accordance with the law.

A family member of a third-country national holding a guest investor residence permit may enter and Hungarian Golden Visa in accordance with this law. Feel free to contact us.

 

Source: 

https://uj.njt.hu/jogszabaly/2023-90-00-00 – 2023. évi XC. törvény a harmadik országbeli állampolgárok beutazására és tartózkodására vonatkozó általános szabályokról / Hungarian source / 2024.01.04

 

Discover our other articles about Hungary:
The Process of Obtaining A1 Insurance for Third-Country Nationals
New Immigration Law in Hungary
Hungary Housing Market: 20-Year Trends and CSOK Impact
Business Immigration In Hungary
Limited Liability Companies in Hungary: From Compliance to Excellence – Optimizing Taxes for KFTs (LLC)
Acquiring Residence Permit in Hungary: A Comprehensive Guide for Third Country Nationals
Real Estate Investment In Hungary

Conclusion

The Hungarian Golden Visa ‘guest investor residency’ (Hungary Investor Visa / Hungary Golden Visa) regulation approved by the Hungarian Parliament offers attractive conditions for those who want to invest in real estate in Hungary, allowing them to reside in the country for 10 years. The application process of the program consists of two stages: guest investor visa and residence permit.

Investment options include
1- €250,000 real estate fund,
2- €500,000 direct investment in residential real estate
or
3- €1,000,000 donation to public benefit projects. This regulation provides a reliable option for those wishing to invest in Hungary, while providing investors with legal support and informed decision-making with the guidance of professional firms. This new regulation opens its doors to international investors, offering an approach that promotes the economic interests of the country. Please contact us.

Simge Ayse Pala LLBs

Feel free to reach us via the following contact information:

E-MAIL: [email protected]

Gurcan Partners Hungary Office:
Address: Westend Business Centre, Váci út 22-24, 1132 Budapest/Hungary

TELEPHONE: +36 1 808 94 49

For Turkish: +90 850 466 42 60