The President of Hungary has signed the decree on Guest investor visa (“vendégbefektető vizum”) and now has been published in official gazette on 21.12.2023 now becomes law, officially opening the Hungarian Golden visa scheme. The new legislation on immigration changes, paves the way for Hungary to reopen the new golden visa program for property investment in Hungary.
The Immigration Bill T/6097 was approved by parliament and was submitted to the President of the Republic for signing. Below is the timeline of the bill passing through discussions and voting in parliamentary sittings.
Bill submitted – 14.11.2023
Voting – 12.12.2023
Signed by National Assembly – 15.12.2023
Signed by President. – 20.12.2023
Gazetted – 21.12.2023
Under the Guest investor regulation, foreigners can buy properties in Hungary to receive a 10 year residence permit for their investment. They should maintain their investment for atleast 5 years. The residence permit is renewable for another 10 years.
Guest Investor Permit
- Real estate Investment Fund – €250,000 (certificate of share)
- Luxury Residential properties – €500,000 (with full title)
- Donation – €1 million donated to Public fund
Bonds and bank deposits do not qualify. The main applicant, members of his/her family (spouse and under-18 children) will receive residency for ten years. There is no minimum residence condition to live in Hungary permanently.
The Office for Aliens policing and Asylum will likely accept first applications from July 2024. Further guidelines and relevant conditions will be published soon by OIF. No applications will be accepted between Jan and Feb 2024.