Hungary has just announced the relaunch of its Golden Visa program, allowing foreign investors to obtain long-term residency in the country.
The Hungarian Golden Visa Program, which had been closed for six years, permits foreign residents to make qualifying investments in government bonds. This program falls under the guest-investor category and is specifically designed for those who deposit funds in state-run investment projects. To qualify, applicants must either purchase real estate, make a business investment, or contribute to a government fund. In return, investors are granted residency or citizenship.
Recently, a draft bill was presented in the country’s parliament, making a guest-investor visa a basic requirement for applying for Hungarian residence.
The Golden Visa program was first introduced about a decade ago and continued until 2017.
Here’s how to apply for the Hungary Golden Visa Program in 2023:
- Investors need to make a minimum investment of €250,000.
- Foreign investors can meet the criteria by investing in a strategically important project, such as buying a share in a Hungarian real estate fund worth €250,000 or purchasing real estate valued at €500,000.
- Alternatively, investors can make a €1 million donation to an educational or cultural institution.
- For the latest updates and application forms, interested individuals can visit https://konzinfo.mfa.gov.hu/en/visa-application-forms.
- Golden Visa and Golden Passport programs are crucial to the economies of countries like Hungary. However, these programs have raised security concerns due to reports of involvement in irregular acts, including money laundering and other corrupt practices.
- Several European countries, including Spain, Montenegro, Portugal, and Greece, offer similar residency programs.