Hungarian residence permit: the government will not issue a residence permit for direct investment in real estate
On December 23, 2024, information appeared on the network that the Hungarian government would not issue a residence permit for direct investment in real estate. The news about this came 6 months after the launch of the Hungarian residence permit program for investment.
Waitings
Initially, it was expected that the Hungarian government will allow the issuance of a residence permit for the purchase of real estate in the country worth more than 500,000 euros. It was assumed that the program would attract a large number of investors due to the possibility of buying real estate and selling it after 5 years. This would make it possible to invest in real estate, obtain a residence permit for a long time and, after obtaining permanent residence, sell real estate with the possibility of returning finances.
Reality
Information began to appear on the network that the Hungarian government will not open access to the purchase of real estate. The increase in the cost of renting and buying real estate has a negative impact on the population of the country, this is one of the main factors. Also, the trend towards closing access to obtaining a residence permit for the purchase of real estate can be traced throughout Europe, and Hungary is no exception.
Ban on the participation of Russians
Citizens of the Russian Federation will not be able to participate in the program. There is no information regarding participation by citizens of the Republic of Belarus yet.
Existing grounds
There are two available options for participation in the program:
- Investments in excess of €250,000 in funds approved by the Government of Hungary;
- Donations in excess of €1,000,000 to educational institutions or cultural projects.
No public information or other statements from the Hungarian government have yet been published. When such statements appear on official resources, we will inform you about the changes that have already been adopted.
Authors: Yaroslavna Zadesenskaya, Levan Pogosov
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