New details of Hungary's investment and migration program

As informs the resource new details of Hungary's investment and migration program have become known. 

To obtain a Hungarian residence permit under the investment and migration program, it is initially required to obtain a national investor visa first. The document allows you to enter the country and apply for a residence permit card.

Grounds for obtaining a national investor visa

  1. Acquisition of an investment certificate (bond) of at least EUR 500,000 issued by a real estate fund registered with the National Bank of Hungary. In this case:
    • Investor must hold the certificate for at least 5 years;
    • Only a fund manager who holds a financial license and manages the fund based on the investment principles set out in the fund management policy has drawn up may establish a real estate fund;
  2. Purchase of real estate for the amount of 500 000 EUR or more:
    • Property must be residential;
    • Property must be free of encumbrances;
    • You are not allowed to sell a property for 5 years (prohibition statement on sale and encumbrance must be registered in the State Real Estate Register)
    • You can own real estate jointly with your spouse and minor children;
    • It is necessary to obtain a permit for the acquisition of real estate from the state authority in charge of the territory where the object is located.
  3. Donation of an amount of 1 000 000 EUR or more to a higher education institution administered by a public foundation performing state functions. 

Funds are still in the launch phase, but local analysts estimate that these funds will be managed by individuals who already have access to financial institutions.

Provisions for Investor Visa application

  • Written commitment to purchase real estate in Hungary within 3 months of arrival in Hungary;
  • Legal source of funds for investment confirmation;
  • The candidate must not have any violations of the Schengen Information System (SIS).

Government of Hungary plans to issue a decree with requirements for the medical and financial security of candidates.

Consideration period: 21 day.

Hungary residence permit

Benefits of Hungarian residence permit

  • Residency in Hungary for an unlimited amount of time;
  • Traveling to Schengen countries without a visa;
  • Opportunity to work and carry out entrepreneurial activities;
  • Opening bank accounts and access to other banking products.

Conditions of obtaining a residence permit card

  • The residence permit card is issued for a period of 10 years with the right to extend it for the same period of time;
  • Family members (spouses, minor children) can also obtain a residence permit for a period of 3 years;
  • Dependents can obtain a residence permit under a separate procedure for up to 3 years (parents, relatives).

Residence permit card application procedure

  • Documents are submitted to the migration authority directly or online through the Enter Hungary system within 93 days of arrival in Hungary;
  • Proof of investment is provided within 3 months.

Residence permit card renewal

  • It is necessary to confirm possession of an investment certificate in the amount of 250 000 EUR or more;
  • Proof of real estate ownership in for the amount of 500 000 EUR or more, if the real estate was sold after 5 years of ownership - provide proof of other investment for this amount;
  • In case of investment in educational institutions - the residence permit is automatically extended;
  • The residence permit can be extended for 10 years.

Obtaining a Permanent residence card

  • Can be obtained after 3 years of residence in Hungary;
  • It is not allowed to leave the country for more than 120 days per year, with a total absence of no more than 270 days in the last three years;
  • Candidate meets the requirements of social adaptation;
  • Candidate must not have any violations in the Schengen Information System (SIS).

Hungarian government plans to issue a decree on social adaptation requirements

Citizenship of Hungary

  • After 8 years of residence in Hungary it is possible to obtain Hungarian citizenship;
  • It is necessary to provide permanent residence permit, place of residence, as well as certificates on absence of criminal record;
  • Hungarian language, culture and history test must be passed.

Program launching stage is still unchanged, the law has been adopted, but the competencies of the state authorities involved in the process are being coordinated. We would also like to remind you that the rules for investors will come into force on June 1, 2024.

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