Hungary Golden Visa Program Explained: How It Works

The situation in the world can hardly be called stable. Therefore, everyone tries to provide the most comfortable living conditions for themselves and their loved ones. Moving to the EU countries is a great opportunity to find a better place to live. People are attracted by the high standard of living, developed infrastructure, health care, education and social services. At the same time, such programs are an effective tool to support and develop the domestic economy through foreign investment. One of the popular destinations today is Hungary and its new Hungary Golden Visa program, which will come into force on July 1, 2024. Read more about it in our review.

Hungarian Golden Visa Programme Overview

What factors contribute to the decision? Hungary became a member of the EU back in 2004.  Today, there are many applicants to live in a country in the heart of Europe with a good quality of life. From July 2024, the Hungarian investment immigration program will be in effect. Anyone can apply for participation. Golden visas are becoming more and more popular against the background of massive changes in conditions or closure of investment programs in many other countries. It is a real way to residency, change of place to live, free traveling, professional growth and so on.

Compared to other European countries, Hungary is known for its affordable cost of living. It applies not only to the capital Budapest, but also to other cities.

For those wishing to obtain an EU Golden Visa, the new program will be an excellent option. The minimum amount of investment starts at 250 000 euros. If you want to buy real estate in Hungary, consider objects from 500 000 euros. You can make a donation in the amount of 1 000 000 euros to a specified educational, cultural institution. Qualified specialists will help you decide on the choice depending on individual preferences and financial possibilities.

Eligibility Criteria for the Hungary Golden Visa

Hungary is one of the best options for those who wish to have a reserve airfield in case of unforeseen situations. Golden Visa allows you to get a residence permit for ten years with subsequent extension. And if you reside in the country permanently for five years or more, Hungary residence permit by investment can be transferred to permanent residence. To apply, you will need to fulfill the following requirements:

• fill in a special form;
• provide justification for entry and stay in the country;
• attach an identity document (passport) and other necessary documents;
• confirm the availability of funds;
• obtain approval of the application (the process takes up to 90 days);
• make an investment.

The person who can obtain eligibility in the program is at least 18 years old with a clean biography and transparent sources of income.

Fulfilling Hungary Golden Visa requirements will be the first step to changing your life. Depending on the number of people listed on the application, you will need to pay some legal fees, application and processing charges.

Essential Reasons to Choose Hungary for Immigration

What makes this offer attractive? In addition to high-quality social services, Hungary is famous for its beautiful landscapes, comfortable climatic conditions. In this country, you can make your dreams come true. The cost of living is more affordable compared to other European countries.

The solid advantages of Hungary golden visa include the following:

• visa-free entry to Schengen countries;
• flexible tax system with the lowest tax rates in Europe;
• excellent conditions for doing and expanding business;
• access to services in international banks;
• reasonable prices for accommodation compared to other European countries;
• European-style education.

The Hungarian government creates conditions for attracting smart, qualified people: students, entrepreneurs, workers and so on.

You can include family members in the application: parents over 65 years of age, children under the age of majority. If the child has already crossed the 18-year-old threshold, he must be unmarried and financially dependent on the applicant.

Conclusion

Take advantage of a truly favorable offer. The benefits of Hungary Golden Visa are undeniable:

• fast approval time (4-8 weeks);
• no permanent residency requirements;
• the possibility of free traveling;
• education;
• career development in an EU country.

You won’t have to learn the language. The friendly population will allow you to adapt to the new environment as quickly as possible. Guest Investor Program is suitable for most users. It is a real opportunity to obtain permanent residence in the long term. The validity period of the Golden Visa is 10 years, with subsequent extension for the same period. Due to the novelty of the program, the publication of additional information about its benefits is expected.

It is possible to study all the nuances independently on the Internet resources. However, to avoid misunderstandings, it is recommended to engage an experienced specialist. Professionals are familiar with all the nuances of the procedure, so you will definitely avoid misunderstandings in the process.