Given Hungary’s increasing appeal as one of the immigration destinations in the heart of Europe, the Hungary Golden Visa program has attracted investors and immigration applicants as one of the fastest and most flexible ways to obtain permanent residence in this country. This article from ITCILand examines all aspects of Hungary’s Golden Visa—from requirements and necessary documents to application steps and its benefits. Our goal is to provide practical and accurate guidance for individuals seeking immigration to Hungary through investment.
What Is Hungary’s Golden Visa?
The Golden Visa or Hungary’s Golden Residence Permit is a program that allows non-EU nationals to obtain permanent or temporary residence in the country by investing. This program, which was relaunched in 2024 after years of suspension, is considered one of the most attractive immigration options in Europe due to its flexibility and fast processing. Unlike many similar programs in other European countries, Hungary’s Golden Visa does not have strict physical residency requirements, making it ideal for investors who wish to maintain their business activities in other countries.
Investment Options for Hungary’s Golden Visa
Hungary’s Guest Investor Program (GIP) offers several investment options, including:
- Investment in Real Estate Funds: Minimum investment amount of €250,000. This option is very popular due to its lower cost compared to other European countries.
- Direct Property Purchase: Buying property worth at least €500,000. Details regarding restrictions on property types are still being finalized.
- Financial Donation: Donating €1,000,000 to government-designated entities. This option is less popular.
The investment is usually non-refundable for a fixed period (at least 5 years), but after this period, it may be possible to recover the capital in some cases without affecting your residency status.
Eligibility Criteria
Applicants must meet the following criteria to obtain Hungary’s Golden Visa:
- Age: Minimum 18 years old.
- Physical Health: Provide a medical health certificate.
- Clean Criminal Record: Provide a police clearance certificate from the country of residence.
- Financial Capability: Proof of sufficient funds to invest and cover living expenses in Hungary.
- Identification Documents: Valid passport with at least 6 months validity and two blank pages.
- Health Insurance: Provide valid travel or health insurance with minimum coverage of €30,000 in the Schengen area.
Unlike some other programs, applicants do not need proficiency in Hungarian or long-term physical residence in Hungary, making this program very attractive for international investors.
Application Process for Hungary’s Golden Visa
Follow these step-by-step stages to obtain Hungary’s Golden Visa:
- Select the investment type: Choose the appropriate investment option (real estate fund, property purchase, or financial donation).
- Gather documents: Required documents include passport, police clearance, financial documents, visa application form, and insurance certificate.
- Submit initial application: Download and complete the Golden Visa application form from the official Hungarian embassy website.
- Submit the application to the embassy: Submit your application through the Hungarian embassy or VFS Global agency in Tehran. To schedule an appointment, contact via email appointment.hungaryiran@vfshelpline.com or call the embassy phone numbers.
- Make the investment: After initial approval, complete your investment in one of the authorized options.
- Receive the investor guest visa: A 90-day initial visa will be issued to enter Hungary and finalize the investment.
- Apply for residence permit: After arriving in Hungary and completing the investment, apply for permanent or temporary residence permit.
The total process time from investment to receiving residence typically ranges from 5 to 7 months.
Required Documents
Required documents for Hungary’s Golden Visa application include:
- Completed visa application form.
- Valid passport (minimum 6 months validity and two blank pages).
- Two recent passport photos with white background (taken within the last 6 months).
- Police clearance certificate.
- Financial documents (bank statements, proof of funds in English, minimum 50 million IRR per person).
- Travel or health insurance with €30,000 coverage.
- Investment-related documents (such as real estate fund contract or property deed).
- Official translations of identification documents (birth certificate, national ID, and if married, marriage certificate).
Costs of Hungary’s Golden Visa
Costs related to Hungary’s Golden Visa include:
- Investment amount: Minimum €250,000 for real estate funds, €500,000 for property purchase, or €1,000,000 for financial donation.
- Visa processing fees: Approximately €160 for application review and biometrics.
- Additional fees: Translation costs, attorney fees (if using an immigration lawyer), and health insurance costs.
Benefits of Hungary’s Golden Visa
Obtaining Hungary’s Golden Visa has multiple benefits, including:
- Fast permanent residency: Possibility to receive permanent residence in less than 8 weeks.
- Freedom of travel within the Schengen Area: Visa-free access to 26 Schengen countries.
- Flexible residency: No need for long-term physical residence in Hungary.
- Family inclusion: Spouse and children under 18 can be included in the residency application.
- Access to European markets: Hungary serves as a gateway to European markets, offering many business opportunities.
- High quality of life: Hungary offers affordable living costs, quality education and healthcare systems, and numerous tourist attractions, making it an ideal place to live.
Limitations and Important Notes
- No employment as a local employee: With Hungary’s Golden Visa, working as a local employee is not permitted, but you can start your own business.
- Investment risks: Investment in real estate funds or property may carry financial risks. It is recommended to consult financial and legal advisors.
- Need for residence renewal: Temporary residence may require renewal unless permanent residence is obtained.
Reasons for Rejection of Golden Visa Application
Hungary’s Golden Visa applications may be rejected due to:
- Incomplete or invalid documents.
- Failure to prove the source of investment funds.
- Criminal record.
- Failure to comply with legal investment procedures.
- In case of rejection, you can appeal within 8 days by submitting an objection letter in English and supporting documents to the Hungarian embassy. The appeal fee is €160, and processing takes 20 to 30 days.
Frequently Asked Questions
1. Can I recover my investment after 5 years?
Yes, in some investment options like real estate funds, it is possible to recover your investment after 5 years without affecting your residency status.
2. Does Hungary’s Golden Visa lead to citizenship?
To obtain Hungarian citizenship, you must have at least 8 years of continuous residence, pass the Hungarian language test, and take an oath of loyalty.
3. Can children over 18 be included in the application?
No, only children under 18 and spouses can be included in the residence application.
4. Do I need to reside physically in Hungary?
No, Hungary’s Golden Visa program does not require long-term physical residence.
Contact ITCILand
For free consultation and to obtain Hungary’s Golden Visa, contact the ITCILand immigration office.
