The new Golden Visa for guest investors will be available for non-EU and non-EEA citizens.
The National Assembly of Hungary must first approve the bill to announce the launch date. However, the conditions for a new program are already known.
As the National Assembly’s website states, investors will be able to obtain a residency permit in Hungary if they:
Invest at least €250,000 in local property funds approved by the Hungarian National Bank.
Buy real estate for €500,000. The investor or their relatives should keep the property ownership for at least 5 years.
Donate at least €1 million to public trusts that support Hungarian universities and colleges.
To get a residency permit, a foreigner must first obtain an investor visa for 2 years. The visa allows them to enter Hungary multiple times and stay there for up to 90 days within 180.
The investment condition must be fulfilled within 3 months from the date of the first entry. After this, the investor will be able to apply for a residence permit in Hungary.
A residence permit will be valid for 10 years. It is expected to be extended for the same period. The investor will be able to move to Hungary together with their family, for example, with a spouse and children.
Hungary already had Golden Visas in the past. Investors could obtain permanent residence by purchasing government bonds. The minimum investment amount was €300,000. This program operated from 2013 to 2017 and was closed over a corruption investigation. Over 4 years, investors submitted 6,621 applications and got 4,798 approved.
Nowadays, foreigners can obtain a residence permit in Hungary if they buy an apartment or house in Budapest for at least €155,000. The residence permit is valid for 5 years for the main applicant. Their spouse and children obtain a residence permit for 3 years.
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