Securing permanent residency might require a long duration and face legal barriers. However, methods do exist to speed up the process and improve the chances of obtaining residency. Golden visa programs, provided by several countries, enhance not only your own but also your loved ones’ prospects for acquiring residency. Discover the advantages of the Hungary Golden Visa, a strategic investment in your journey to European residency.
What is a golden visa?
The term “golden visa” originates from the program’s advantageous features, which typically include a straightforward pathway to securing permanent or long term residency in a foreign nation through investment. Most countries define specific amounts for monetary, bond, or real estate investments as requirements for investors. Individuals obtaining a residence permit through a golden visa program enjoy the freedom to travel or work freely in the country.
Benefits of Golden Visa programs
Acquiring permanent residency grants you the freedom to travel within the country. EU residency provides access to visits to all 27 countries in the Schengen area.
You and your loved ones can secure permanent residency through investment, thanks to the opportunities that Golden Visa programs provide. These programs also make future citizenship applications more accessible.
In addition, you have the permission to work within your country of residence: this opens doors not only for new job opportunities but also lucrative business ventures.
As a permanent resident, you qualify for your country’s healthcare system; this presents an invaluable resource to individuals seeking to mitigate their medical expenses.
Obtaining a golden visa often grants you access to the local educational system, including freely available universities.
Some golden visa holders may enjoy tax benefits and access unique investment opportunities, such as real estate investment.
Hungary golden visa: building a secure future in Europe
As a European Union member, Hungary’s local authorities issue a residence permit that holds validity throughout the entire Schengen Area; this signifies an area spanning 29 European countries. These nations have formally abolished all types of passport and border control at their mutual borders.
The 27 Schengen countries are:
- Czech Republic
All third-country nationals can obtain an exclusive 10-year Guest Investor Residence Permit from Hungary under specific conditions. The applicable Hungarian legislation does not name explicitly this opportunity as a Golden Visa program although it can be classified as a Golden Visa in accordance with the international practice. The Hungary Golden Visa program necessitates applications to:
- invest at least € 250.000 into a real estate fund registered by the Central Bank of Hungary, or
- purchase a residential property in Hungary for at least € 500.000, or
- donate at least € 1.000.000 to a Hungarian college or university maintained by a public charity foundation.
Hungary residence permit by investment
Investors for the Hungary Golden Visa program are required to apply. It is recommended to seek the help of an immigration consultant agency to minimize the risk of costly mistakes. The steps involved in acquiring a Hungary residence permit through investment are as follows.
- Initially, you will receive a two-year Guest Investor Visa. Subsequently, you are eligible to visit Hungary, and it is required to complete the investment within three months.
- Ultimately, you will obtain your Guest Investor Residency Permit valid for ten years.
- After ten years, the investor can renew the Golden Visa for further ten years if the Hungarian investment is still among their assets.
Frequently asked questions
What are the most popular Golden Visa countries in Europe?
Portugal, Malta, Greece, Cyprus, Spain, and Italy are among the most popular golden visa countries but there is a huge chance that Hungary will be among the TOP3 EU countries within a short period.
Why should you choose an EU Golden Visa?
The EU golden visa offers numerous advantages, with the primary benefit being the ability to work and reside in any Schengen country.
What are the main benefits of the Hungarian Golden Visa?
- There is no requirement for the investor to stay in Hungary.
- Other family members (minor children and wife) of the investor are also eligible for Residence Permit for ten years.
- If the Investor Residence Permit holders spend 3 years continuously in Hungary, they will be eligible for Permanent Residence Permit.
- The investments can generate income in the form of yield from the real estate fund or real estate rental income.
Are there specific requirements for obtaining a residence permit in Hungary for non-EU citizens?
No, the residence permit in Hungary for non-EU citizens falls under the same regulations but the residence permit via the Hungarian Golden Visa provides a shorter and easier route for third country investors.
How can we help you?
Over more than 30 years Crystal Worldwide Group, an international business consulting firm specialising in tax planning, asset protection, and golden visa programs, has garnered client respect and trust. Our offerings include professionally sound and lawful solutions for tax savings along with fast, timely services provided at the peak discretion level.