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What is the guest investor residence permit?
The guest investor residence permit (often referred to as Golden Visa) is a type of residence permit that entitles its holder to residence in Hungary for an extended period.
Similar types of permits are available in other EEA countries, but they are not based on common regulations.
The basic condition for obtaining this permit is the fulfilment of one of the investment opportunities specified by law. By investing, the non-EEA investor and his/her family members obtain a residence permit valid for 10 years. This is a uniquely long validity period among the types of residence permits available to non-EEA nationals.
What kind of investment is needed to get a guest investor residence permit?
To obtain a guest investor residence permit, the applicant must complete one of the following investment options.
- Purchase of investment bonds worth EUR 250 000 from a real estate fund manager registered by the Hungarian National Bank.
- At the time of publishing this article, the list of real estate fund managers complying with legal requirements has not yet been published, so it is not yet possible to obtain a guest investor residence permit with investment bonds.
- A donation of EUR 1 000 000 to a specific higher education institution.
- Purchase of residential property worth EUR 500 000 – this investment opportunity will allow you to obtain a guest investor residence permit from 01/01/2025.
The individual types of investment in detail
- Investment fund bonds
- The real estate fund manager issuing the bonds must be included in the list of qualified market participants under the relevant law.
- At least 40% of the net asset value of the bond must be a real estate investment in Hungary with residential functions.
- Units are blocked in securities accounts for 5 years.
- The guest investor shall release his account manager from the obligation of confidentiality.
- Donation
- The donation may be made to a higher education institution maintained by a public interest trust foundation performing a public service mission. This statutory status can be obtained by a foundation through a qualification process.
- The purpose of the donation is to support educational, scientific research and artistic creative activities.
- Real estate investment
- The real estate investment must take place after the start date specified by law (01/01/2025). Previously purchased property can not be considered.
- Residential property cannot be alienated for 5 years, so the sale, gift or mortgage of the property is restricted, which prohibitions must be entered in the land register.
- When applying for a residence permit, a forensic expert is appointed to check whether there is a significant difference between the actual value of the property and the purchase price indicated in the application. If a striking imbalance in value is found, the authority will refuse to issue the guest investor residence permit. The costs of the expert review shall be borne by the applicant.
- The owner of the purchased property may be the investor and/or his/her family members who are applying for a family member residence permit. However, family members are not required to own real estate in Hungary.
What does a guest investor residence permit entitle to?
- Extended stay of 10 years, renewable
- Family can also apply together
- The holder of the guest investor residence permit and the family members joining him are entitled to work in Hungary without restriction
- The holder of a guest investor residence permit may also act as a company manager or private entrepreneur.
- Visa-free travel to Schengen member countries
- Residence in Hungary is not a condition for obtaining and retaining the permit, i.e. the holder of the permit may maintain his/her habitual residence in his/her home country
How long is a guest investor residence permit valid for?
The guest investor residence permit is valid for 10 years, renewable for 10 years at a time, exclusively for guest investor purposes. It cannot be exchanged for any other type of permit domestically.
The validity of the issued guest investor residence permit may exceed the expiry date of the applicant’s passport.
The extension procedure is influenced by the investment made by the third-country national to obtain his or her residence permit as a guest investor.
- In the case of investment bonds, the applicant must have EUR 250,000 value investment bonds at the time of submitting the application for extension.
- In the case of an investment in residential real estate, ownership of real estate with a value of at least EUR 500,000 must still exist.
- If donation was the basis for issuing the permit, no further investment is required for the renewal process.
Application process
The guest investor residence permit can only be applied for in Hungary. The condition of a domestic application is that those who can enter Hungary visa-free due to their citizenship have a visa-free legal stay in Hungary, and those who require a visa to travel to Hungary, have a guest investor visa (see below).
Anyone who already has a residence permit in Hungary, but could only enter Hungary with a visa due to their nationality, must also apply for a guest investor visa abroad first.
The application for a guest investor residence permit must be submitted after the realization of the investment, within 93 days of first entry into the territory of Hungary.
Applications can be submitted electronically via Enter Hungary or in person at the relevant Immigration office based on the applicant’s address. In the case of a legal representative, the request can only be submitted via the Enter Hungary interface.
If, at the time of submitting the application for a guest investor residence permit, the applicant is not yet able to provide proof of the investment made, he or she must additionally submit the proof of the completion of the investment to the authority as an additional document.
The extension application can also be submitted only in Hungary, online. Applications for renewal of permits shall be submitted not later than 30 days before expiry of the period of validity.
The decision making period for the guest investor residence permit application is 21 days.
Guest investor visa
Non-EEA citizens subject to visa requirements who wish to apply for a guest investor residence permit in Hungary must first apply for a guest investor visa at the competent Hungarian consulate. The visa is valid for up to 6 months and entitles its holder to multiple entries to Hungary, thus helping to prepare and implement the investment.
To apply for a visa, the investor must declare his intention to invest in the future or that he already has one of the necessary investments.
In case of investment intent, the investor must
- commit to make the undertaken investment within 3 months of entry with the visa;
- prove, by appropriate documentation, that:
- has the necessary funds for investment, which amount is available, or can be transferred to Hungary,
- the origin of the available amount of money is legal.
When applying for a guest investor visa, the general visa conditions must be met (e.g. travel, accommodation, health insurance).
Possibility of permanent residence
The law does not preclude the acquisition of long-term residence rights (permanent residence permits) for guest investors and their families. You can apply for a National residence card or an EU residence card according to the usual rules.
How can we help?
We support the entire process of obtaining a guest investor residence permit from the very first steps.
In addition to the full administration of the permit, we also support our clients in the process of investing in real estate.
- Our real estate team helps the client to choose the perfect real estate from a wide range of properties, which fully meets the requirements of a guest investor residence permit.
- Our lawyers provide full support for the completion of the sale, including related legal administration, preparation of the purchase contract and proper registration of ownership.
After the investment is completed, our team of experienced professionals will prepare the documentation required for the guest investor residence permit application and we will submit the application as soon as possible.
We follow up on cases throughout the application process, inform our clients of developments and deliver the completed documents.
If you would like to obtain a 10-year guest investor residence permit with this attractive Hungarian investor program, please contact our office at the contact details on the website and contact us.
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