Hungarian Golden Visa Program Launches: A New Pathway to EU Residency

Starting from July 1, 2024, applications for the Hungarian Golden Visa Program are officially open, offering a unique opportunity for foreign investors and their families to obtain long-term residency in Hungary.

Key Highlights of the Hungarian Golden Visa

• Program Overview: The Hungarian Golden Visa Program, announced in the new immigration law effective January 1, 2024, allows investors to secure Hungarian residency,  for up to 10 years with an option forrenewal. This program grants EU residency for 10+10  years, enabling investors and their families to live, work, and travel within the European Union.
  
  
• Eligibility and Requirements: To participate, applicants must: 

   

  • Choose an investment option that suits their preferences.
  • Provide proof of the required funds for their selected investment option.
    
    
• Investment Options: Currently, few investment options are available:
   
  • EUR 250,000: Purchase of bonds issued by a real estate fund registered by the Hungarian National Bank (MNB).
  • EUR 500,000: Purchase of residential real estate in Hungary.
  • EUR 1,000,000: Donate to a designated educational or cultural institution
    
    
• Application Proces: The application process for the Hungarian Golden Visa Program involves three phases:
   
  • Phase 1: Apply for a guest investor visa at the nearest Hungarian consulate to your permanent address
  • Phase 2: Travel to Hungary and complete your chosen investment.
  • Phase 3: Apply for guest investor residency for yourself and your family, providing proof of your investment.
    
    
• Benefits of the Program: The Hungarian Golden Visa Program offers several significant benefits, including:
   
  • Long-term residency in Hungary with an option for renewal.
  • Access to the European Union, allowing for travel and business opportunities across member states.
  • A secure and structured pathway to obtaining EU residency for investors and their families.
    
    
• Further Clarifications: While the program is now live, some details still require clarification. Prospective applicants are encouraged to stay informed about any updates or  changes to the program's requirements and procedures.

Conclusion

The Hungarian Golden Visa Program presents a compelling opportunity for foreign investors seeking residency in the European Union. By offering flexible investment options and a straightforward application process, Hungary aims to attract global investors and enhance its economic landscape. Interested individuals should begin the application process and make their investments to benefit from this newly launched program.

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