Starting July 1, 2024, the Golden Visa program will resume in Hungary. Now foreigners will be able to obtain a residence permit through 3 investment options. Learn more about the features of the Golden Visa program in Hungary

The new Golden Visa program will be launched in Hungary on July 1, 2024. Foreigners will be able to obtain a residence permit under three investment options. 

Unlike similar programs in Spain and Portugal, the Hungarian program allows for a residence permit through real estate investment. 

Starting July 1, wealthy citizens from non-EU and EEA countries will be able to obtain a residence permit in Hungary under the new Guest Investor Program (GIP).

What are the terms of the program and how much do you need to invest?

The Golden Visa program in Hungary grants residence through the option of investing in real estate. Starting July 1, citizens from non-EU countries will be eligible for residence in Hungary following the renewal of the Golden Visa program, now known as the Guest Investor Program (GIP).

Participation in the program requires a significant financial investment and provides three main investment options: 

1. Purchase of a unit in a real estate fund for at least EUR 250,000;

2. Purchase of residential real estate for 500,000 euros;

3. A donation of at least EUR 1,000,000 to a Hungarian higher education institution.

To participate, a person must be over 18 years of age, have no criminal record, and prove sources of income. Participants receive visa-free access to all EU countries. Residence permits also apply to the investor's spouse, minor children and parents.

From 2013 to 2017, the Golden Visa program brought Hungary 1.4 billion euros. However, it was suspended in 2017 due to the lack of positive economic impact. This time, Hungary hopes for much better results.

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For safe relocation to any country in the world, obtaining citizenship and employment, take the advice of an international lawyer. We help to solve complex and simple issues for your comfort and safety in any part of the world. 

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Criticism of the Golden Visa Program in the European Union

The European Commission has called on EU governments to end the practice of granting citizenship to investors in an effort to limit the risks associated with the multibillion-dollar “citizenship for money” industry. 

The outbreak of a full-scale war in Ukraine has heightened security concerns, as fears have arisen that such schemes could be used to circumvent sanctions. The Commission also called for a thorough check on whether the sanctioned Russians have so-called “golden passports” or visas, which is contrary to the core values of the European Union.

The UK government has already decided to abandon the Golden Visa program in an effort to stop the flow of “dirty money” from Russia. Similarly, Bulgaria decided to cancel the scheme due to its low economic efficiency. 

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Igor Usyk - Head of Legal Department at Visit World

To ensure a safe move to Hungary, I advise you to contact a specialist. My colleagues, qualified specialists with legal education, will help you avoid unpleasant situations during migration abroad.

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