The New Hungary Golden Visa Program Officially Launched on July 1st

Brittany Collins

On July 1, 2024, Hungary officially began accepting applications for its highly anticipated Golden Visa program. Announced in late 2023, this program allows foreign investors to secure a 10-year residency by making a substantial investment in the Hungarian economy.

Regulations on the Hungary Golden Visa, officially called the Guest Investor Residence Permit, were published in the updated Immigration Law of Hungary. Although the law took effect on January 1, 2024, preparations for the launch of the Golden Visa program took some time.

Who Qualifies for the Hungary Golden Visa

The Hungary Golden Visa is available to applicants who meet the following criteria:

non-EU and non-EEA citizens;
over 18 years old;
have a legitimate source of income;
purchase health insurance.

The main applicant can include their family members in the application, including a spouse, children under 18, and dependent parents.

Where to invest to qualify for the Hungary Golden Visa

The Hungary Golden Visa program offers three investment options to cater to different investor preferences and goals:

Real estate fund units — €250,000+. Investors must purchase units of a government-approved real estate fund. The investment must be held for 5 years. After this period, fund certificates can be redeemed to return the investment.
Non-refundable contribution — €1,000,000. Investors make a charitable donation to support an institution of higher learning in Hungary. This investment will be used to develop education, science, and the arts.
Residential real estate — €500,000+. Starting January 1, 2025, investors can purchase residential real estate in Hungary. Properties acquired before this date will not qualify for the program. The purchased property must be held for at least five years.

How to acquire a Hungary Golden Visa

The application process for the Hungary Golden Visa involves several key stages and takes from 6 months.

Obtaining a Guest Investor Visa. The applicant must first acquire a Guest Investor Visa from the Hungarian Consulate in their home country. This national type D visa allows the investor to visit Hungary and is valid for six months, permitting multiple entries.
Implementation of the investment condition. Within 93 days of first entering Hungary with the Guest Investor Visa, the applicant must make the required investment and submit a residency application.
Applying for residency. After completing the investment, the applicant must make an appointment with a migration office in Hungary. During the visit, they submit the application and provide biometrics.

The Hungary Golden Visa is valid for 10 years, with an option for a 10-year extension. The investor and their family are not required to reside in Hungary to maintain their status. To renew the permit, they must ensure they meet the same requirements fulfilled when obtaining the initial residence permit.