Everything You Need to Know About the Hungary Golden Visa
Table of Contents
The Hungary Golden Visa program has become an increasingly attractive option for investors and their families seeking residence in the European Union. This program, officially known as the Hungary Guest Investor Program, allows non-EU nationals to obtain residency in Hungary via financial investment. For people that are non-EU, the Golden Visa in Hungary has been highly desirable since the official announcement on 1st of July, 2024, due to its flexibility, affordability, and the strategic benefits of being part of the EU.
Are you wondering about how to get a Golden Visa in Hungary or how to apply for a Golden visa in Hungary? In this article, we’ll explore the latest updates to the program, its features, and the advantages it offers to potential investors.
Key Features of the Hungary Golden Visa
The Hungary Golden Visa program is tailored for high-net-worth individuals who wish to secure residency in Hungary and enjoy the many benefits associated with being part of the European Union. Here are some of the key features of the program:
- Residency by Investment: Unlike traditional residency options, which may require years of living in Hungary, the Golden Visa program allows applicants to gain residency by making a €250.000 financial investment in the country. The primary route for Hungary residency by investment is through real estate as well as government bonds.
- Passive Income from your Investment: For those interested in a more hands-off approach, real estate funds, REITs, or government bonds may be ideal options to generate passive income. By this way, investors may generate up to 7% yields per annum.
- Access to the EU: One of the most significant benefits of the Golden Visa in Hungary is the ability to live, work, and study within Hungary, as well as travel freely within the entire Schengen Area. With Hungary being part of the European Union, investors and their families also gain access to one of the world’s largest economic markets.
- Dual Citizenship Potential: While Hungary does not directly offer a path to citizenship through the Golden Visa, residency in Hungary opens up the possibility for naturalization after a certain period. Applicants can apply for citizenship after 3 years living in Hungary for a period of 8 years (or potentially 5 years if married to a Hungarian citizen). Once Hungarian citizenship is obtained, applicants gain EU citizenship, allowing access to all the benefits that come with it.
Favorable Tax Environment: Hungary is known for having a competitive tax environment, with relatively low corporate taxes compared to other EU countries. For investors looking to establish businesses in Hungary, the country offers a favorable tax regime, making it an attractive destination for entrepreneurship.- No Language Requirements: Another appealing feature of the Hungary Golden Visa’s requirements is that there are no language necessities for residency. Applicants are not required to speak Hungarian to obtain residency or naturalize in the future, making it more accessible to international investors and their families.
- Fast-Track Residency: The Golden Visa program in Hungary allows for a relatively quick processing time for residency applications. Once the required investment is made, applicants can expect to receive their residency cards in a matter of months, giving them quick access to the EU.
The Benefits of the Hungary Golden Visa
For those considering the Hungary Golden Visa, the program offers several advantages that make it stand out from other European residency-by-investment programs.
1. Security and Stability of the EU:
Hungary’s membership in the European Union offers unmatched stability and security. Investors benefit from the EU’s extensive trade agreements, economic infrastructure, and the overall stability that comes with being part of one of the world’s largest and most influential economic blocs.
2. High Quality of Life with Low cost of living:
Hungary is known for its high standard of living, excellent healthcare system, and robust educational infrastructure. Budapest, the capital, is a vibrant cultural hub with world-class amenities, while the country offers a mix of historical charm and modern convenience. One of the best features is to have all these amenities with a well balanced cost of living.
3. Access to Excellent Healthcare and Education:
As part of the EU, Hungary provides access to top-tier healthcare services and educational institutions. For families, this is an attractive feature, as it allows children to attend EU-recognized schools and universities while ensuring healthcare coverage that meets EU standards.
4. Pathway to EU Citizenship:
With Hungary’s Golden Visa, citizenship is all the more easy via naturalization. Hungary’s naturalization process is relatively straightforward compared to other EU countries, and after 8 years of residency (or 5 years for those married to Hungarian citizens), individuals may apply for citizenship and obtain all the privileges of EU citizenship, including the ability to live, work, and travel across the EU. These make obtaining citizenship through the Golden Visa in Hungary relatively straightforward.
5. Low Investment Threshold:
Compared to other countries offering Golden Visa programs, Hungary’s investment threshold is relatively low, making it an accessible option for many investors. This lower financial barrier allows more individuals and families to benefit from the program without making massive investments.
The Hungary Golden Visa program remains a compelling option for investors looking for a residence permit in the EU. With the opportunity to invest in real estate, gain residency quickly, and enjoy all the benefits of EU membership, it continues to be an attractive pathway for those seeking security, stability, and access to Europe.
While the residency bond option may no longer be available, the current alternative of real estate investment is still a strong, viable option for those interested in establishing a presence in Hungary. If you’re considering an investment in Hungary, the Golden Visa could be the perfect opportunity to secure a European residence for you and your family.
Golden Visa application process in Hungary can be tricky: stay up-to-date on any changes to the program and seek professional advice to ensure that your investment meets the latest legal and regulatory requirements.
