Hungary is a nation with a rich history and great beauty, one of the most beautiful countries in Europe. Hungary introduced its Golden Visa Program in 2024 gives the seeker a great opportunity to invest and establish their business in Hungary along with their residency in this great region of central Europe. This guide delves into the program’s specifics, eligibility requirements, and the advantages it offers.
The Hungarian Investor Residence Permit
The Hungarian Golden visa program is also known as the Hungarian guest investor residence permit that provides a way for a long-term stay or a residency in Hungary that has a validity period of at least ten years and is also renewable indefinitely. This program is different from citizenship by investment program, and getting Hungarian citizenship demands a separate process of application.
Embarking on Your Residency Journey: Application Process Explained
The application process for the Hungary Golden Visa involves several key steps:
- Gather Required Documents
- Submit Your Application
- Awaiting Decision
Gather Required Documents
Get your important documents and compile them in one place before applying for the visa, these documents include;
Valid Passport: A passport that is valid for at least six months with two blank pages for visa stamping purposes.
Proof of financial resources
Financial proof that you can afford all the expenses including your living. Investments need to be discussed in another part of the guide.
Passport-sized pictures
Two passport-sized photos according to the requirement of the embassy or consulate for a golden visa.
Itinerary
Describe the whole travel purpose and plan.
Other Documents
The embassy or consulate will ask for additional documents if necessary, make sure you provide them in time.
Submit Your Application
Schedule an appointment with the embassy of Hungary in your home country or where you are living currently and submit your application package along with documents, The consular department will check your application and documents and then they will forward it to the Hungarian Migration Department for processing it for final stages.
Awaiting Decision
The Hungarian Migration Department is authorized to approve or reject your visa application. Usually, it takes up to three months to be notified of the decision taken by the authorities.
Important Note: It’s advisable to initiate the application process well in advance of your intended travel date to account for potential delays.
Unveiling the Investment Options
The Hungary Golden Visa program offers three investment avenues for applicants to choose from:
- Real Estate Investment Fund: Invest a minimum of €250,000 in a Hungarian real estate investment fund.
- Real Estate Acquisition: Directly purchase real estate in Hungary with a minimum value of €500,000.
- Non-refundable Public Trust Donation: Contribute €1 million to a Hungarian non-refundable public trust donation program.
In addition to the investment amount, you may also need to budget for application, legal, and processing fees.
Alternative Residency Options in Hungary
The Hungarian golden visa program is one of the many pathways that can get you residency in Hungary. here are some alternative options that can be considered;
- Residency Permit for Work or Self-employment
- Residency Permit for Family Reunification
Read More… Australia Student Visa under New Rules of 2024
Residency Permit for Work or Self-employment
This is the perfect option for you if you want to work in Hungary or establish a new business you are then eligible for a work or self-employment residency permit.
Residency Permit for Family Reunification
f you have a close family member who is a Hungarian citizen or permanent resident, you may qualify for a family reunification residency permit.
What countries are the part of Schengen Zone
Schengen countries are European countries that have access to each other countries and have abolished passport control at their mutual borders, You can find the complete list of these countries on the internet. If you belong to any of these countries you do not need to apply for a visa and go through all this process.
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