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Residency Program of Hungary
Overview of Hungary
Hungary is a landlocked country in Central Europe, known for its rich history and vibrant culture. It covers around 93,026 square kilometers and has a population of about 10 million. The capital, Budapest, is renowned for its stunning architecture and is bisected by the Danube River. Hungary’s diverse landscape includes the Great Hungarian Plain, the Transdanubian hills, and Lake Balaton, the largest lake in Central Europe.
Historically, Hungary’s legacy dates back over a millennium, including the formation of the Kingdom of Hungary in 1000 AD and its role in the Austro-Hungarian Empire. After significant challenges during World War II and Soviet occupation, Hungary transitioned to democracy in 1989 and joined the European Union in 2004. Today, it has a diverse economy with strengths in manufacturing, technology, and tourism, and is celebrated for its culinary delights and rich traditions in folk music and dance.
Language
Hungarian
Currency
Forint (HUF)
Total Area
93,026 km2
Capital
Asunción
Government
Parliamentary Republic
Population (2024)
10,008,457
Residency Programs of Hungary
Hungary is an attractive destination for those seeking an exceptional living experience and promising investment opportunities in the heart of Europe. The residency program in Hungary offers a unique chance for individuals to invest in the country and benefit from its thriving business environment. The program is known for its simplicity and fast procedures, allowing applicants to include family members and providing freedom of movement within all Schengen countries. These appealing factors make it one of the most attractive programs for investors seeking stability in one of Europe’s most beautiful countries. Investors and their families from outside the European Union can now apply for a Hungarian Guest Investor Residence Permit, becoming long-term legal residents with access to Europe’s Schengen Area.
Which Family Members Can Be Added in the Same Paraguay Residency Application?
- Spouse
- Dependent children under the age of 18
- Parents who are financially dependent on the investor or investor’s spouse
Benefits of Hungary Residency
Hungary offers a unique suite of advantages, especially for those scouting for an attractive tax system and a swiftly growing economy. Some of the factors that prompt thousands to move their residence to this country each year include:
- Having residency in Hungary grants you the flexibility to live, work, and study in the country
- Live in Hungary and enjoy a high quality of life and affordable cost of living
- Visa-free travel to 31 countries in the Schengen Area and EU
- Hungary is one of the countries with the lowest tax rates in Europe. The income tax rate is 15%, and the corporate tax rate is 9%
- Opening bank accounts and deposits in local and international banks with a minimum pack of documents; usually, it’s enough to provide a passport and a residence permit card.
- A favorable business environment and dual citizenship are available
- Obtain a pathway to Hungarian citizenship through the Residency Program
Hungary Residency by Investment Program
In 2024, the Government of Hungary introduced a legislative proposal to grant investors the right to obtain a residence permit through the new Hungary Golden Visa program. This program is available exclusively to non-EU and non-EEA citizens. Investors can choose from three options: purchasing residential property, investing in local real estate funds, or donating to an institution of higher learning. The minimum investment required is €250,000. The Golden Visa residence permit is granted for 10 years and can be extended once for another 10 years.
Applicants must first obtain a Guest Investor Visa and declare their chosen investment option during the visa application process, although completing the investment is not required at this stage. After receiving the Guest Investor Visa, the applicant must travel to Hungary to finalize their investment within three months. They must then apply for a Guest Investor Residence Permit with the immigration authority or via the Enter Hungary electronic platform within 93 days of entering Hungary. Proof of investment must be provided with the application. Once all requirements are met, no further travel to Hungary is necessary.
Investment Types for Hungary Residency
Invest in a local real estate fund
€250,000
Purchase residential property
€500,000
Donate to a higher education institution
€1.000,000
How to Qualify for the Hungary Residency?
- Applicants must be 18 years of age or older and have a valid passport
- Applicants must have a legitimate source of income
- Applicants must be a non-EU and non-EEA citizen
- Applicants must have a birth certificate and marriage certificate (if applicable)
- Applicants must have adequate health insurance
Citizenship and Passport of Hungary
Hungary offers the opportunity to obtain permanent residence after residing in the country for three years. To be eligible, investors must spend a minimum of 183 days per year in Hungary.
Permanent residence is granted for life; however, the ID card must be renewed every five years.
After eight years of residency in Hungary, a foreign national can apply for citizenship. To qualify, they must not leave the country for more than 45 days per year during the entire residency period. Additionally, the investor must pass an exam on the Hungarian language and the country’s history.
Reach us to learn all about Hungary Program, Application Details and Visa-Free Countries
Over the past several years, the Hungary government has successfully worked on expanding its list of visa-free countries.
FAQ’s About Residency Programs of Hungary
How can I get a residence permit in Hungary?
You can get a residence permit in Hungary by investing in one of three options:
- Investing in local real estate funds — €250,000
-
Investing in local real estate funds — €250,000
-
Donating to an institution of higher learning — €1,000,000
How long does it take to get a Hungarian residence permit by investment?
The Hungarian residence permit by investment can be obtained in 4—6 months. The residence permit will be valid for 10 years and may be extended once for the same period.
Can I get residency in Hungary if I buy a house?
Yes, you can obtain a residence permit in Hungary by purchasing residential property for at least €500,000.
Other investment options include making charitable donations to institutions of higher learning and purchasing investment certificates issued by real estate funds registered with the Hungarian National Bank.
What are the benefits of a Hungarian residence permit?
The benefits of a Hungarian residence permit include:
-
visa-free travel across the Schengen Area;
-
opportunity to move to Hungary with the family;
-
right to work and do business in Europe;
-
tax optimisation;
-
access to high-quality education and healthcare;
-
opening accounts in Hungarian banks with a minimum pack of documents.
How do I become a citizen of Hungary?
After eight years of residency in Hungary, a foreign national can apply for citizenship. To qualify, they must not leave the country for more than 45 days per year during the entire residency period. Additionally, the investor must pass an exam on the Hungarian language and the country’s history.
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Other Golden Visa Programs
Portugal Golden Visa
Portugal residency program is one of the most sought-after due to the ability to apply for citizenship after 5 years without the need to reside in the country.
Cyprus Golden Visa
Spain Golden Visa
Spain residency program is known for its flexibility to applicants who wish to maintain their residency permit in Europe without living or visiting the country.
Greece Golden Visa
Greece Residency program is known for offering the lowest cost residency among the European residency by investment programs.