The Hungarian government has unveiled plans to launch an exciting new golden visa programme in 2024, termed the “Guest Investor Residence Permit”. This initiative is set to become the latest and most enticing investment residency programme in the EU. Investors exploring this new opportunity can select from the following investment options, each offering a pathway to Hungarian residency:

  • €250,000: Real Estate Investment Funds
  • €500,000: Real Estate Acquisition
  • €1million: Non-refundable Public Trust Donations

Regardless of the chosen investment, successful applicants and their families will be granted a Hungarian residency permit with an impressive 10-year validity period, with no mandatory minimum stay requirement.

Typically, most Golden Visa residency permits are granted for shorter durations ranging from 1 to 5 years. However, under Hungary’s new Golden Visa programme, investors and their family members can enjoy the benefits of Hungarian residency for a decade. As long as the investment is maintained, investors remain eligible for the extension of their residency without any additional residency duration constraints.

Importantly, this type of ten year visa, known as a long-term residency visa, comes with very similar rights as EU citizenship. Those with long-term residency status can stay in a second EU country for more than three months for purposes including work, study or training, providing you apply and are granted a residence permit in that second country.

The proposed law is scheduled to by voted on by government later this week. Until the law is passed, we await further confirmation on the exact start date of the programme along with other details such as application and processing fees. Stay in the know, and join La Vida’s mailing list for further breaking news and updates.

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Tags: hungary, residency visa

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