Exploring Hungary's Golden Visa program

Introduction

It offers non-EU/EEA citizens a 10-year residency permit, renewable for another 10 years, through qualifying investments. The program has garnered attention for its affordability, flexibility, and access to the Schengen Area, making it a compelling option for investors seeking European residency. This guide provides an in-depth exploration of the program’s eligibility criteria, investment options, application process, benefits, costs, family inclusion, renewal options, and comparisons with other Golden Visa programs, based on authoritative sources and recent updates as of April 2025.

Eligibility Criteria

To qualify for the Hungary Golden Visa, applicants must meet the following requirements:

• Citizenship: Be a non-EU/EEA citizen.

• Age: Be at least 18 years old.

• Criminal Record: Have a clean criminal record, verified through due diligence.

• Financial Proof: Demonstrate that the investment funds are from legal sources.

• Health Insurance: Provide proof of health insurance coverage for the duration of the stay.

• Investment: Commit to one of the qualifying investment options.

The program is open to all nationalities, with no reported restrictions based on country of origin, making it accessible to a wide range of investors.

Investment Options

As of April 2025, the Hungary Golden Visa offers two primary investment options, following the abolition of a third real estate purchase option in January 2025:

Note on Real Estate Acquisition:

• A previously planned option requiring a €500,000 investment in residential real estate was postponed indefinitely as of January 2025. However, investors can still gain residency through real estate by establishing a business in Hungary, which may involve property investment.

Additional Requirement:

• Applicants must have a registered address in Hungary, which can be secured by purchasing or renting residential property, regardless of the investment option chosen requiring a registered address.

Application Process

The application process for the Hungary Golden Visa is streamlined and involves the following steps:

1. Obtain a Guest Investor Visa:

   • Apply for a temporary visa, valid for up to 6 months, to enter Hungary and complete the investment.

   • The Hungarian Migration Office conducts a due diligence check to verify the applicant’s background and the legality of funds. Approval for this visa significantly reduces the risk of residency refusal.

2. Make the Investment:

   • Within 3 months of entering Hungary, complete the investment in either the real estate fund or the charitable donation.

   • Provide proof of investment, such as an investment certificate for the fund or a donation receipt.

3. Apply for the Residence Permit:

   • Submit the required documents to the National Directorate-General for Aliens Policing, either in person at a regional office or online via the Enter Hungary platform.

   • The processing time is typically 4-8 weeks, though some sources report 21-30 days.

Required Documents:

• Valid passport (valid for at least 12 months)

• Two recent photographs (3 × 4 cm, taken within the last month)

• Health insurance documentation

• Proof of investment

• Bank statements demonstrating sufficient funds and their legal origin

• Proof of a registered address in Hungary

• Curriculum Vitae (CV) for each family member over 18

• Marriage certificate (if applicable)

• Birth certificates for relevant family members

• Completed residence permit application form required for residency

Timeline:

• The entire process, including document collection, visa issuance, investment fulfillment, and residency approval, typically takes around 5 months.

Benefits

The Hungary Golden Visa offers a range of benefits that make it attractive to investors:

• Long-Term Residency: A 10-year residency permit, renewable for another 10 years, providing long-term stability.

• Schengen Area Access: Visa-free travel within the Schengen Area for up to 90 days in any 180-day period, facilitating easy travel to cities like Vienna, Milan, or Paris.

• Work and Business Opportunities: Holders can work, establish companies, or serve as executives in Hungary without restrictions.

• No Minimum Stay Requirement: Investors are not required to reside in Hungary to maintain the permit, offering flexibility for those with global lifestyles.

• Family Inclusion: Spouses, minor children, and parents over 65 can be included, with access to Hungary’s healthcare and education systems.

• Path to Permanent Residency: After 5 years of full-time residence, applicants can apply for permanent residency.

• Low Risk: The due diligence check at the visa stage ensures that approved investments are unlikely to be rejected during the residency application.

Costs and Fees

Beyond the investment amount, applicants must account for additional costs:

• Administrative Fees: Approximately €65,000 for a family of up to 4 members (main applicant, spouse, and children under 18). Additional dependents incur extra fees: €10,000 per dependent starting with the fifth, €15,000 per child over 18, and a €5,000 subscription fee including administrative costs.

• Legal and Processing Fees: These vary based on the investment option, number of family members, and complexity of the application. Consulting with an immigration expert is recommended for a personalized cost estimate.

• Property Costs: Renting or purchasing property to secure a registered address adds to the overall cost, with rental prices in Budapest varying widely based on location and property type.

Family Inclusion

The program allows for generous family inclusion:

• Spouse and Children Under 18: Automatically included in the main application at no additional investment cost.

• Children Over 18: Eligible if they are financially dependent, studying, and unmarried.

• Parents: Included if they are 65 years or older, with no requirement to prove dependency.

• Additional Dependents: Extra administrative fees apply for each additional family member including family members.

Family members receive the same 10-year residency permit, with work rights and access to Hungary’s healthcare and education systems.

Renewal and Permanent Residency

• Renewal: The 10-year residency permit can be renewed for another 10 years, provided the investment is maintained or the applicant meets other renewal criteria.

• Permanent Residency: After 5 years of continuous, full-time residence in Hungary, applicants can apply for permanent residency.

• Citizenship: The Golden Visa does not offer a direct path to citizenship. Traditional naturalization requires 8 years of legal residence, a registered address, and, for applications after January 1, 2025, passing a cultural written exam in Hungarian.

Due Diligence Process

The Hungarian authorities conduct a rigorous due diligence check before issuing the Guest Investor Visa, which includes:

• Verification of the applicant’s identity and background.

• Confirmation of the legal origin of investment funds.

• Assessment of the applicant’s criminal record.

This process ensures that only eligible applicants proceed to the investment and residency stages, minimizing the risk of rejection. If an applicant is approved for the Guest Investor Visa, the residency application is highly likely to succeed.

Comparison with Other Golden Visa Programs

The Hungary Golden Visa stands out among European residency-by-investment programs for several reasons:

• Affordability: Hungary’s €250,000 investment threshold is among the lowest in the EU, compared to Portugal’s €280,000 or Malta’s €700,000.

• Longer Permit Validity: The 10-year residency permit is longer than the 5-year permits offered by Portugal and Malta.

• Flexibility: No minimum stay requirement makes it ideal for investors who do not wish to relocate.

• Limitations: Unlike Portugal or Malta, Hungary does not offer a direct citizenship path, requiring a longer naturalization process.

Practical Considerations

• Real Estate Funds: Funds like SPRINT, approved by the Hungarian National Bank, offer a structured investment with a 2.5% annual management fee. Investors should research fund performance and management credentials.

• Registered Address: Renting a property in Budapest can cost €500-€2,000 per month, depending on location and size, while purchasing property may range from €100,000 to €500,000 or more.

• Consultancy Services: Firms like Helpers Hungary offer multilingual support (English, Russian, Chinese, Arabic, etc.) and have extensive experience with Hungary’s immigration processes.

• Tax Implications: Hungary’s personal income tax on rental income is 15%, which may apply if investors rent out properties used for the registered address.

Conclusion

The Hungary Golden Visa (Guest Investor Residence Permit) is a compelling option for non-EU/EEA citizens seeking European residency with a relatively low investment and flexible requirements. Its €250,000 real estate fund option is one of the most affordable in the EU, and the 10-year residency permit, coupled with no minimum stay requirement, offers significant flexibility. The ability to include family members and access the Schengen Area further enhances its appeal. However, the lack of a direct citizenship path and the need for a registered address in Hungary are important considerations.

Investors should work with reputable immigration consultancies to navigate the application process and stay informed about updates, as the program’s investment options have evolved since its launch. With its combination of affordability, long-term residency, and Schengen access, the Hungary Golden Visa is likely to remain a top choice for global investors in 2025 and beyond.