Hungary’s Golden Visas programme is an attractive option for investors seeking European residency. While there are other Golden Visas programmes across Europe, Hungary offers a unique set of benefits that make it stand out. Ferenc Tihánszky, Director of the Hungarian office, Investment Programs Expert at Immigrant Invest, explains the key aspects of Hungary’s Golden Visa, its requirements, and how it compares to other European Golden Visas.
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What is Hungary’s Golden Visa?
Golden Visa in Hungary is a residence permit program designed for investors. It allows foreign nationals to obtain Hungarian residency by making a qualifying investment. This type of visa is part of the broader European trend of Golden Visa programs, which offer investors a pathway to residence in exchange for financial investment.
To be eligible for Hungary’s Golden Visa, applicants must meet certain investment criteria, including fund units purchase. The visa grants access to Hungary and the wider Schengen Area, which is a significant advantage for global investors seeking to live and travel freely within Europe.
Hungary Investor Visa Requirements
Eligibility requirements for Hungary’s Golden Visa are straightforward and less demanding compared to some other European countries. The most common method to qualify is by investment in government bonds. However, Hungary offers a few different pathways, making the program versatile for various types of investors.
Investment in real estate fund units. The investment amount is €250,000 or higher, depending on the specific fund.
Donation to an institution of higher learning. The investment amount is €1,000,000. The institution must be managed by a public interest trust foundation.
No need for physical residence.Unlike some Golden Visa programs, Hungary’s system does not require investors to reside in the country for a long period. The visa holder is required to visit the country at least once every three years to maintain their residency.
Family inclusion. The Golden Visa program allows investors to bring their family members, including children, parents and spouses, which is a significant benefit for those looking to relocate with loved ones.
Pathway to permanent residency. After a set period of residence under the Golden Visa, holders can apply for permanent residency, leading to full citizenship eligibility, although it is a more extended process compared to other countries like Portugal.
Other Easiest Golden Visa Programs in Europe
Comparing Hungary to other European Golden Visa programs helps investors decide the best option for them. Many European countries have similar programs, but each has its own unique requirements and benefits.
Portugal. Portugal’s Golden Visa program is one of the most popular in Europe. It offers a relatively low investment threshold starting at €250,000 for investment in culture. Portugal is also known for its long-term residency benefits, including low cost of living.
Greece. The Greek Golden Visa program is another low-cost option, requiring a minimum investment of €250,000 in real estate. Greece has one of the shortest residency requirements, but the program doesn’t offer a clear path to citizenship.
Cyprus. Cyprus is known for its Golden Visa program that requires a €300,00 real estate investment. This is one of the higher thresholds in Europe, but it offers fast-tracked permanent residency in a relatively short period.
While these programs all offer opportunities for residency in Europe, Hungary’s Golden Visa stands out due to its lower investment threshold and the option to invest in government bonds, which provides a more straightforward and less risky investment option compared to real estate.
How to Apply for Golden Visas in Europe
Applying for a Golden Visa in Europe generally follows a similar process across different countries. Here is a simple guide on how to apply for a Golden Visa, including Hungary’s program:
- Choose your investment. First, decide where and how to invest. For Hungary, this could be fund units, whereas other countries may offer options like real estate or business investments.
- Prepare your documents. This typically includes proof of investment, background checks, proof of income, and personal identification documents. Ensure all documents are in order before submitting your application.
- Submit your application. Applications are generally submitted through the country’s immigration or investment authorities. In Hungary, this involves submitting the required documents along with proof of your investment.
- Wait for approval. The processing time for a Golden Visa application varies. Hungary’s Golden Visa application process can take several months to a year, depending on the investment and the country’s current processing times.
- Residency and family inclusion. Once approved, you will receive your residency permit, which allows you to live in the country and travel within the Schengen Zone. You can also include your family members in the application.
- Maintain your residency. Ensure you meet the requirements for maintaining your residency status. For Hungary, you are required to visit at least once every three years. Some countries, like Portugal, have a more flexible residency requirement, allowing you to spend more time abroad.
Hungary’s Golden Visa offers a unique and flexible option for investors looking to gain residency in Europe. With lower investment thresholds compared to some other European programs, Hungary provides a straightforward path to obtaining a residence permit with minimal residency requirements. Whether you’re considering Hungary or another European country, the key is to understand the requirements, benefits, and opportunities each program offers.
