Hungary Introduces New Guest Investor Program for 2024

Hungary has a history of offering residency permits in exchange for investment, with the previous program, which concluded in 2017, enabling the acquisition of permanent residency through the purchase of Hungarian Residency Government Bonds. Now, almost seven years later, the enactment of the Act on the General Rules for the Entry and Residence of Third-Country Citizens (Immigration Act) heralds the introduction of a new regime.

This program allows entrepreneurs and investors from third countries to secure long-term residency by investing in the Hungarian economy. Market anticipation surrounding the program’s regulations has been palpable, with stakeholders eagerly awaiting key details. This article aims to elucidate the fundamental aspects of this initiative.

Administration of the New Guest Investor Program

The implementation of elements within the new Immigration Act occurs in stages. Most of its provisions took effect in January 2024, delineating categories of stay into short-term, long-term, and permanent. A long-term stay encompasses visits exceeding 90 days within a stipulated 180-day period. Provisions regarding the granting of long-term residence permits to guest investors will be enforceable from 1 July 2024. These permits are designed for third-country investors seeking to engage in the Hungarian economy.

Regulations for the Hungarian Guest Investor Program

Prospective applicants are required to apply for a guest investor visa before obtaining a guest investor residence permit. This visa is extended to third-country nationals intending to invest in Hungary, facilitating stays beyond 90 days and allowing multiple entries within 180 days. However, the validity of a guest investor visa cannot exceed two years and becomes void upon acquiring a guest investor residence permit.

Eligibility Criteria for Guest Investor Visas

Guest investor visas may be issued to third-country nationals whose proposed stays in Hungary are deemed of significant national economic interest. To qualify, applicants must make or declare a commitment to invest in one of the designated pathways outlined by the Hungarian government. Should an applicant opt for the latter, they are afforded a three-month grace period to fulfill the investment after their initial entry into Hungarian territory.

Funds allocated for investment must originate from legitimate sources. There are three investment routes intended to stimulate the Hungarian economy through direct foreign investments:

1. Acquisition of investment certificates from a real estate fund regulated and registered by the Hungarian National Bank.
2. Direct investment in residential property in Hungary.
3. Donation to a state-recognized higher education institution in Hungary.

Additional Eligibility Requirements for Guest Investor Visas

Applicants must provide evidence of sufficient financial resources to cover living expenses and healthcare for themselves and their dependents, if applicable. They must not be listed in the Schengen Information System (SIS) for alerts concerning expulsion or entry bans and must not pose a threat to public order, security, health, or national security.

Guest Investor Residence Permit Regulations

Holders of a guest investor visa who fulfill the conditions stipulated in the legislation may obtain a guest investor residence permit. Unlike the residence permit obtained through state bonds from 2013-2017, the guest investor residence permit does not confer permanent residency. Instead, it permits:

– Long-term stays, typically up to ten years.
– Extension of the permit’s validity period once, for the same duration (ten years), and purpose as the initial application.
– Engagement in entrepreneurial and business activities.
– Acting as a company’s executive officer.

These benefits extend to the applicant’s immediate family (spouse and minors).

Citizenship Network, established as a reputable Government Agency in 2016, holds a valid license. Specializing in global citizenship acquisition, our mission is to facilitate a seamless process for our clients in obtaining citizenship. We are providing Hungary Guest Investor Visa program as an official partner. To learn more about Hungary’s Real Estate Market read this and contact us to start your application process.

Contact us today via email, or connect with us on WhatsApp or Telegram to learn more about Hungary’s newly launched Guest Investor Program. Our experts will guide you through the process, providing clarity on eligibility and investment options, so you can make informed decisions while we handle all the details.