Hungary, a member of the EU since 2004, has become an attractive destination for those seeking European residency. The upcoming Hungary Golden Visa, also known as the Hungarian Guest Investor Program (GIP), is set to launch in 2024, offering a pathway to residency through investment. As you prepare to start on this journey, let Beyond Global Partners guide you through the essential details, requirements, and benefits of this promising opportunity.
Introducing the New Hungarian Golden Visa Program
The Hungary Golden Visa program introduces a Guest Investor Residence Permit, providing a long-term residency option with a ten-year validity that can be renewed indefinitely. While not offering citizenship directly, this program grants the right to reside in Hungary, making it ideal for investors with specific residency goals.
Application Process for the Hungarian Guest Investor Program (GIP)
The application process involves submitting essential documents such as the application form, passport, proof of funds, and meeting investment requirements. Approval by Hungarian authorities typically takes up to 90 days, ensuring a streamlined process for eligible investors.
Investment Options and Requirements
Starting from 2024, investors can choose from three investment avenues to qualify for Hungary’s Golden Visa:
- €250,000 in a Real Estate Investment Fund
- €500,000 in Real Estate Acquisition
- €1 million as a Non-refundable Public Trust Donation
Additionally, applicants should budget for legal, application, and processing fees based on the chosen investment and number of family members included in the application.
Benefits of the Hungary Golden Visa Program
The program offers numerous advantages, including:
- Efficient pathway to European residency
- Renewable ten-year residency permit
- Visa-free travel within the EU Schengen zone
- No minimum stay requirements
- Tax benefits for non-residents
Navigating Residency and Citizenship in Hungary
Beyond the initial residency permit, non-EEA nationals can apply for a Hungarian residence permit to work, establish a business, or be self-employed. This route also allows for family reunification, including parents over 65 years old, without the need to prove financial dependency.
Citizenship Pathways and Requirements
After residing continuously in Hungary for eight years, residents can apply for Hungarian citizenship, subject to language proficiency and other criteria. Dual citizenship is permitted, enabling applicants to maintain their previous nationality.
Expert Guidance from Beyond Global Partners
Beyond Global Partners offers unmatched expertise and support throughout your Hungary Golden Visa application process and has a dedicated office in Budapest under the direction of Country Director Ms. Nora Gomori, a seasoned professional in the investment migration industry. Benefit from our comprehensive knowledge and personalized assistance to ensure a smooth and successful immigration process.
Act Now!
The new Hungary Golden Visa Program presents a promising opportunity for international investors seeking European residency. Whether you’re considering investment, business establishment, or family reunification, Beyond Global Partners stands ready to assist you at every step. Stay informed with the latest updates on this recently announced program, ensuring you are well-prepared to make Hungary your new home.
