Hungary is relaunching its Golden Visa, here are its special features

Whereas the EU is trying to get member countries to limit the use of "golden visas" or "golden passports"., Hungary recently relaunched its "Golden Visa" programThis initiative aims to attract foreign investors by offering them various investment options, as well as facilities for their families. This initiative aims to attract foreign investors by offering them various investment options, as well as facilities for their families.

The 3 investment options of the Hungarian Golden Visa

To be eligible for Hungary's Golden Visa program, investors must choose from one of the following three investment options :

• Invest a minimum of €250,000 in local real estate funds approved by the Hungarian National Bank.
• Purchase a property worth €500,000 with a commitment to retain ownership for at least 5 years.
• Donate at least €1 million to public trusts supporting Hungarian universities and colleges.

To qualify for a Golden Visa, foreign investors must first obtain a guest investor visa for 2 years. This visa allows them to enter Hungary several times and stay for up to 90 days within a 180-day period. The Hungarian Golden Visa is initially valid for 10 yearswith the possibility of extension for another decade.

Program benefits for investors and their families

In addition to investment opportunities, the Golden Visa program offers other benefits to participants:

• Family gathering : Investors' family members, including spouses and children, may also join the investor in Hungary.
• Visa-free travel : Holders of a Hungarian residence permit can travel visa-free within the Schengen area and enjoy unlimited access to Hungary.
• Employment and business : The residence permit offers employment and entrepreneurial opportunities in Hungary, as well as in the European Union and the Schengen area.

Obtaining permanent residence and Hungarian citizenship

After 3 years' residence in Hungary, foreign investors can obtain a permanent residence permit. After a further 5 years, they can apply for Hungarian citizenship.

The previous Hungarian Golden Visa program

Hungary had already introduced a Golden Visa program between 2013 and 2017. This program offered permanent residency through investments of at least €300,000 in government bonds. However, this program has been discontinued in favor of the new Golden Visa focused on real estate and donations to educational institutions.

• Hungary

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