The new Golden Visa Program in Hungary, known as the Guest Investor Program (GIP), is set to launch on July 1, 2024. Here are the key details you need to know about this program:
Purpose and Eligibility
The GIP allows international investors from countries outside the European Union (EU) and European Economic Area (EEA) to obtain residency in Hungary. This residency can lead to visa-free travel within the EU.
Investment Options
Foreign nationals can acquire residency through three investment options:
- Real Estate Fund Unit: Purchase a unit in a real estate fund for at least €250,000.
- Residential Property: Purchase residential property valued at €500,000 or more.
- Donation: Make a donation of at least €1,000,000 to a higher educational institution in Hungary.
Residency Benefits
Residency obtained through the GIP extends to the investor's spouse, minor children, and parents. Applicants must be over 18 years old, have a clean criminal record, and demonstrate a legitimate source of income.
Application Process
Applicants must find an agent to assist with the application process. They will need to visit Hungary to fulfill the investment requirements, apply for residency, and submit biometrics. If all conditions are met, approval for residence permit cards will be issued either by mail or in person.
In summary, Hungary's new Golden Visa Program offers a pathway to residency through investments in real estate or donations, providing opportunities for wealthy individuals from non-EU/EEA countries to obtain residency and visa-free travel within the EU. If you are seeking a job, looking to establish a business, or aiming to obtain residency in Hungary, contact EU Helpers.
