Your Pathway to European Residency
Hungary has recently introduced an exciting opportunity for non-EU nationals seeking residency through investment. The Hungarian Parliament has approved a new regulation offering a 10-year residency under preferential conditions for investors. This program, known as the Hungarian Guest Investor Program, opens doors to Europe for investors willing to make a significant financial commitment to Hungary.
An Overview of the Hungarian Guest Investor Program
On December 9, 2023, the Hungarian government passed a law that allows non-EU nationals to gain a 10-year residency in Hungary by making an investment of at least €250,000. The investment must be completed within 90 days after the approval of the visa application. This initiative is part of Hungary’s efforts to attract foreign investments and boost the national economy.
Key Benefits of the Program
The Hungarian Guest Investor Program provides several compelling benefits:
- European Residency: As a resident of Hungary, you and your family, including minor children, can enjoy the freedom to live, work, and travel within the Schengen Zone.
- No Minimum Stay Requirements: Unlike many other residency programs, Hungary’s program does not require you to spend a minimum number of days in the country each year to maintain or renew your residency status.
- Family Inclusion: Your spouse and minor children can be included in your application, allowing the entire family to benefit from this residency program.
Application Process and Requirements
To apply for the Hungarian Guest Investor Program, follow these steps:
- Review Program Information: Thoroughly read all the details about the program to ensure you meet the requirements.
- Submit a Request Form: Fill out the request form to express your interest in obtaining a Hungarian residence permit.
- Due Diligence: We at RCP conduct comprehensive due diligence before signing the service agreement with you. If any issues are found in your background or if you do not meet the requirements, we will not proceed with your application.
Eligibility Criteria:
- You must be a non-EU national with a valid passport.
- You must be able to invest at least €250,000.
- You must pass a national security check by Hungarian authorities.
- You must make the investment within three months of entering Hungary.
- You must have sufficient funds to stay in Hungary.
Investment Options
Investors can choose from several investment options to qualify for the program:
- Real Estate Investment: Invest at least €500,000 in residential property.
- Real Property Bonds: Invest a minimum of €250,000 in bonds issued by a real estate fund registered with the National Bank.
- Public Interest Donation: Donate €1 million to public interest projects managed through designated asset management foundations.
Investments must be maintained for at least five years, ensuring long-term commitment and stability.
Understanding Your Residency Rights
Once you obtain a Hungarian residence permit, you will enjoy most of the rights and benefits of Hungarian citizens. This includes the ability to live, stay, and work in Hungary, and access to public services like education for your children. While the permit does not grant the right to vote in national elections or hold a Hungarian passport, it does provide a residence permit card, which serves as an official ID.
Path to Citizenship and Tax Obligations
If you wish to obtain Hungarian citizenship, you must reside in Hungary for at least eight years. However, the residency permit does not require you to live in Hungary to maintain it. Furthermore, you are only subject to Hungarian tax laws if you stay in the country for more than 182 days within a 12-month period.
In Summary
The Hungarian Guest Investor Program offers a unique and attractive opportunity for non-EU nationals to secure long-term residency in Europe. By investing in Hungary, you and your family can enjoy the benefits of living in a vibrant EU country with the freedom to travel across the Schengen Zone. For more information or to start your application, please contact us to receive a personalised solution tailored to your needs.
At 360 Business Law, we specialise in providing comprehensive legal assistance to investors seeking residency through the Hungarian Guest Investor Program. Our expert team guides you through every step of the application process, ensuring you meet all requirements and make informed investment choices. We conduct thorough due diligence, assist with documentation, and offer personalized solutions tailored to your needs. With our support, you can confidently navigate the complexities of immigration and investment law, unlocking the benefits of European residency for you and your family.