Jalsovszky Law Firm

Foreign investor residence permit

Hungary has reintroduced its Golden Visa program, providing an attractive opportunity for non-EU/EFTA investors and their families to obtain Hungarian residence, based on their financial investments. Hungarian Golden Visa holders receive a temporary residence permit for ten years. The residence permit could be renewed for another ten years.

Prior to applying to a foreign investor residence permit, the applicant, who is not allowed to stay visa free in Hungary, should obtain a foreign investor’s visa at the local foreign Hungarian consulate. Within three months as of the issuance of the foreign investor’s visa, the required investment must be made and the application for the foreign investor residence permit (“Golden Visa”) must be submitted to the Hungarian immigration authority.

FAQ

What kind of investments are accepted?

Investment Units: Investors can purchase Hungarian real estate investment units (in Hungarian “befektetési jegy”) issued by a real estate fund registered by the Hungarian National Bank in the minimum amount of EUR 250,000. These investment units must be held for a minimum period of five years.

Real Estate Investment: Investors can also acquire Hungarian residential property. The minimum investment amount is EUR 500,000. The investment must be held for at least five years.

Financial donation: A financial donation of at least EUR 1,000,000 to a university maintained by a public trust foundation with a charitable purpose.

For how long is the permit issued?

The residence permit is valid for ten years.

Is the permit renewable?

Yes, it can be renewed for an additional ten years.

When can I apply for a Golden Visa?

Technically, Golden Visa rules are applicable, certain investment categories are not yet available. We suggest starting the proceeding not earlier than September 2024.

What does the Hungarian Golden Visa offer?

The Golden Visa allows holders to enter and exit Hungary multiple times without the need of additional visas. Visa holders can further travel freely within the Schengen Area and reside in any EU Schengen country for up to six months.

What are the main eligibility criteria?

The applicant must

provide evidence of a clean criminal record;

provide proof of health insurance, covering the applicant and his/her family members; and

demonstrate financial stability and sufficient funds to support his/her investment and living expenses in Hungary.

Can my family members join me in Hungary?

Yes, the Hungarian Golden Visa entitles close family members (e.g. spouse and minor children) to join the applicant.

Can I work in Hungary with a Golden Visa residence permit?

Yes, the Golden Visa residence permit entitles the applicant and his family members to work under the Golden Visa.

What is the length of the administrative procedure?

If the applicant cannot enter Hungary visa free, it is required to apply for a foreign investor visa. This visa authorises the third country citizen to stay in Hungary (and the EU Schengen zone) for a period of six months.

Within three months as of the issuance of the foreign investor’s visa, the required investment must be made. The application for residence permit needs to be submitted within 93 days as of the first entry into Hungary and the fulfilment of the required investment.

The Hungarian Immigration Authority shall resolve on the application within 21 days as of submission. This deadline can be extended if the authority requests further information from the applicant or other authorities for the due judgement of the case.