What is the difference between the new and old Hungarian residency by investment program?
Published at: 09/02/2024 08:27 am
Hungary launched the new residency by investment or Golden Visa Program in 2024. The new solution for "guest investors" to live in an EU country differs from the old Hungarian Residency Bond Program, which closed in 2017.
First of all, the investment type and amount changed. During the previous residency by investment program, the applicants had to invest 300,000 euros in the so-called residency bonds issued by the state with a five-year maturity. Under the New Hungarian Golden Visa Program 2024 has two main investment options:
- Invest a minimum of €250,000 into a properly licenced real estate investment fund.
- Directly invest a minimum of €500,000 into a Hungarian residential property.
Another critical difference is that the applicants received permanent resident status under the residency bond program. Meanwhile, under the new Golden Visa Program, successful applicants receive a renewable residency permit for ten years.
Another essential issue is the length of the investment. During the residency bond program, the bonds had a five-year maturity, and the new Golden Visa holders must also maintain the investment asset under the new scheme for five years.
The processing time of the new Guest Investor residency by investment program is three months, a swift solution in Europan comparison.
What are the typical advantages of the Hungarian residency by investment program?
- As a resident of Hungary, you can freely move or do business in the European Union.
- The investor, spouse, and children under 18 receive EU resident status.
- You can live and work in Hungary but do not have to. You can live in another country and keep your Hungarian resident status.
- Life in Hungary is affordable, and the health care and the schools are excellent.
- Hungary is in the middle of the European Union, so you can easily reach any other member state from here.
Discus Holdings Ltd has over 30 years of experience in Hungarian immigration, company registration, and taxes. Please ask for consultation from the source of knowledge and experience. Our Hungarian colleagues are waiting in our Hungarian office for your questions!