ISLAMABAD, AUGUST 10: Hungary has reintroduced its golden visa program, offering a new opportunity for investors and high-net-worth individuals to secure residency in Europe. Known as the “Guest Investor Residence” scheme, this program provides a pathway to residency and work permits.
What is the Guest Investor Residence Scheme?
The Guest Investor Residence scheme enables foreign nationals to obtain residence permits in Hungary through various investment channels. It is designed to attract global investors and skilled workers by offering flexible work and residency rights.
Benefits of the Guest Investor Residence Scheme
The residence permit under this scheme offers several advantages:
- Work Authorization:Guest investors holding the residence permit can engage in independent business activities, earn salaries or other forms of remuneration, and hold executive positions in business organizations or cooperatives, providing significant career flexibility.
- Extended Residency:The initial residence permit is valid for 10 years, providing long-term stability for investors and their families. It can be renewed for another 10 years, ensuring continued residency and work privileges.
- Family Reunification:The scheme allows for family reunification, offering dependent residence permits with employment rights to spouses, minor children, and dependent parents of the principal permit holder, promoting family unity and economic participation.
Eligibility Criteria
To qualify for the Guest Investor Residence permit, applicants must meet one of the following investment criteria:
- Investment in Fund Shares:Invest a minimum of EUR 250,000 in a real estate fund registered by the Hungarian National Bank.
- Real Estate Investment:Own a residential property in Hungary valued at least EUR 500,000 for at least five years (effective January 2025).
- Non-Refundable Donation:Make a non-refundable financial donation of EUR 1 million to support educational, scientific research, or artistic creation activities at a higher education institution maintained by a public trust.
Application Process
- Entry with Visa:Applicants must submit their application within 93 days from their first legal entry into Hungary, either with a visa for guest investors or visa-exempt entry.
- Current Residents:Holders of residence permits in Hungary who are eligible for visa-free entry can apply during their legal stay. Those not eligible must first obtain a guest investor visa abroad.
National Card Eligibility
Nationals from the following countries can be granted a National Card:
- Bosnia and Herzegovina
- Republic of North Macedonia
- Republic of Belarus
- Moldova
- Republic of Montenegro
- Russian Federation
- Serbia
- Ukraine
Residence Permit for Guest Workers
The residence permit for guest workers is available to nationals from:
- The Philippines
- Republic of Indonesia
- Republic of Kazakhstan
- Mongolia
- Socialist Republic of Vietnam
- Federal Republic of Brazil
- Georgia
- Kyrgyz Republic
- Bolivarian Republic of Venezuela
- Republic of Colombia
Hungary’s renewed golden visa program opens new opportunities for global investors, offering an attractive combination of work and residency benefits. With flexible investment options and a streamlined application process, this program is likely to attract a diverse range of foreign nationals seeking to make Hungary their new home.
