The forthcoming Hungary Golden Visa program is set to launch on July 1st, 2024. As authorities finalise preparations, new requirements have been announced, primarily affecting the Guest Investor Visa and the real estate investment option.
Hungary Introduces Changes to the Golden Visa Program
The Guest Investor Visa Updates
The Guest Investor Visa is a national visa that enables candidates for Hungarian residency by investment to enter Hungary, fulfil the investment condition, and apply for a residence permit.
This visa is required for all participants of the Hungary Golden Visa program, except for those from countries that have a visa-waiver agreement with Hungary.
The previous guidelines assumed that the Guest Investor Visa will be issued for up to two years, providing candidates with ample time to make their investments.
The new regulations have shortened the visa validity period to six months. As previously, investors will have 93 days from the first entry to Hungary with the visa to make the investment and apply for residency.
Changes in Real Estate Purchase Option
The Hungary Golden Visa is one of the few residency by investment programs in the EU that allows obtaining residency by real estate purchase. To qualify, applicants need to buy residential properties in Hungary valued at least at €500,000.
The updated legislation has postponed the availability of this option: applications for residency by real estate purchase will be accepted starting January 1st, 2025. Properties purchased before this date will not qualify.
Hungary Golden Visa Conditions at a Glance
The main requirements for the Hungary Golden Visa remain unchanged. To qualify, applicants must come from outside the EU, have no criminal record, prove the legitimacy of their income, and buy health insurance. The investor’s immediate family, including their spouse, minor children, and parents, are also eligible for residency.
Investors can choose from three available options:
invest in real estate fund units for a minimum of €250,000;
purchase residential property within Hungary valued at €500,000 or more;
make a non-refundable donation of €1,000,000 to a higher education institution.
Residence permits will be issued for a period of ten years and can be extended once for an additional ten-year term. Golden Visa holders are not required to move to Hungary; to maintain the status, they must keep their investments for a minimum of five years.
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