In 2024, the Hungary Golden Visa program was renamed the “Residence Permit for Guest Investors,” aiming to attract investors from various countries and continents. This program offers the opportunity to reside in Hungary, simplifying the process for investors and their families. This initiative provides significant advantages for those seeking housing and work in the country.
Overview of Hungary Golden Visa Program:
The Hungary Golden Visa program offers non-EU nationals fast-track permanent long-term residence status in Hungary for buying 250,000 euros in real estate. Golden Visas program provides a 20-year EU residence status, PR under family unification, 10-year guest investor residence permit and has a lot of benefits as well. Benefits include a visa-free Schengen with residence in Hungary and a fast track allowing residents to live, study, and work in Hungary. The program is open to all country nationals and offers risk-free investments in Euros. Applications can be submitted from July 1, 2024. The program is open to all countries’ nationals. To participate, you can contact the representatives for a free offer.
Benefits of Hungary Golden Visa:
Hungary’s Golden Visas program offers many benefits, including:
● visa-free travel;
● tax optimization;
● affordable living;
● access to high-quality education;
● healthcare;
● rich nature and architecture;
● opportunity to work and do business in Europe;
● affordable real estate;
● opening bank accounts in Europe;
● long-term status, and citizenship.
Hungary Golden Visa benefits include the fact that it is a Schengen country, which allows residents to visit the Schengen Area visa-free for 90 days in a 180-day period.
The best Hungarian university is the University of Szeged. According to Immigrant Invest specialists, Hungarian diplomas are recognized worldwide, making it easier for Hungarian graduates to find jobs in other European countries. Hungary is also well-known for its dentistry and cosmetic surgery facilities, as well as its thermal and mineral springs, which cater to medical tourists.
The income tax in Hungary is 15%. Residents of Hungary pay it on both domestic and foreign sources of income. Property taxes are 2 to 4%, when buying real estate. As an investment program expert Vladlena Baranova (Immigrant Invest company) points out, in Budapest, the capital of the nation, property prices are 2.5 times lower than those of Stockholm and 2 times lower than those of Prague, making living there far more affordable than in other big cities of Europe.
Eligibility Criteria for Hungary Golden Visa:
Hungary Golden Visa program has specific eligibility criteria for applicants. These include due diligence, health, investment threshold, investment options, investment hold, physical presence, and investment approval. The current program requires a check of criminal background for applicants 18 and older, identity documentation, and a source of funds from an accredited bank or financial institution. Health screening and health insurance are not mandatory. The minimum investment requirement is €155,000, with the program only valid in Budapest.
Application Process for Hungary Golden Visa:
Applying for Hungary Golden Visa and moving to Hungary involves several steps:
- Due Diligence. Immigrant Invest conducts a first screening of an investor in order to identify and minimize the risk of rejection. The inspection is carried out in strict confidence by Certified Compliance Anti Money Laundering Officers. Only an investor’s passport is needed.
- Gathering the paperwork. The list of all necessary documents is given to the investor by the attorneys at Immigrant Invest. Lawyers notarize and translate them.
- The Guest Investor Visa Application Form. A lawyer applies for the Guest Investor Visa on behalf of the investor. This is the first step toward getting a residence permit. It takes two years to get a Guest Investor Visa.
- Traveling to Hungary. Investors in Hungary have 93 days to invest in a project and apply for a residency permit. The investor must keep the deal for 5 years.
- Residence permission request. Lawyers assist investors with RP applications. Within 21 days, the application is reviewed. After approval, the investor visits a migration office for providing fingerprints and getting the residency permit.
After receiving their residence permit, investors may relocate to Hungary and have three days to register their address on the immigration authority’s computerized platform for process commencement.
Conclusion:
Hungary provides flexible conditions for real estate, hospitality, and charity investments with simplicity and transparency. Accommodation can be obtained without meeting minimum conditions, allowing long-term residence and business expansion in Hungary. The program focuses on economic sector growth and updates residence permits every five years.
Hungary allows access to the European Union, healthcare, and education in all European countries. It also provides significant benefits, for instance, long-term residence, business development, and travel within the Schengen area.
Disclaimer:
CBD:
Qrius does not provide medical advice.
The Narcotic Drugs and Psychotropic Substances Act, 1985 (NDPS Act) outlaws the recreational use of cannabis products in India. CBD oil, manufactured under a license issued by the Drugs and Cosmetics Act, 1940, can be legally used in India for medicinal purposes only with a prescription, subject to specific conditions. Kindly refer to the legalities here.
The information on this website is for informational purposes only and is not a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or another qualified health provider with any questions regarding a medical condition or treatment. Never disregard professional medical advice or delay seeking it because of something you have read on this website.
Gambling:
As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman, and Sikkim, prohibit gambling. Land-based casinos are legalized in Goa and Daman under the Goa, Daman and Diu Public Gambling Act 1976. In Sikkim, land-based casinos, online gambling, and e-gaming (games of chance) are legalized under the Sikkim Online Gaming (Regulation) Rules 2009. Only some Indian states have legalized online/regular lotteries, subject to state laws. Refer to the legalities here. Horse racing and betting on horse racing, including online betting, is permitted only in licensed premises in select states. Refer to the 1996 Supreme Court judgment for more information.
This article does not endorse or express the views of Qrius and/or its staff.
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