For those looking for a simplified route to obtain a residency permit within the EU, Hungary has an extremely simple residency by investment program that is based on real estate investment.
The country boasts a robust and diverse economy, characterised by a strong industrial base, a burgeoning technology sector, and an increasingly competitive position within the European market.
Hungary’s Residence Permit Program offers a gateway to residence in this vibrant European nation, providing an attractive option for individuals seeking long-term relocation.
Hungary’s Residence Permit Program Requirements
To qualify for the program, investors need to:
- Have a clean criminal record.
- Be above 18 years of age.
- Invest a minimum of €155,000 in real estate in Hungary.
- Have sufficient funds to maintain themselves and their family within Hungary without access to public funds.
- Be able to provide proof of the source of funds.
Hungary’s Residence Permit Program Process
The process is as simple as the requirements, all investors need to do is:
- Choose a property (or properties).
- Open a bank account in Hungary and deposit the investment amount and maintenance funds (optional).
- Make a down payment of 10% on the chosen property.
- Submit a full application.
- Once approved, an investor must enter Hungary with their family for biometrics and then obtain temporary residence permits.
- Within 90 days of obtaining the residency permits, the investor must show proof of the property acquisition in Hungary in their name.
The entire process is very quick, taking, on average, three months to complete, and the documentation is minimal.
Applicants do not need to open a bank account in Hungary, but it is advised that they do, as this will greatly simplify the due diligence process and increase the chances of approval.
Applicants do not need to reside in Hungary to maintain their residence permit, which has a validity of up to five years, but they must maintain their investment to renew it.
Hungary’s Residence Permit Benefits
The program comes with a plethora of benefits, such as:
- Adding family members – an applicant can add their spouse and dependent children to the application.
- Obtaining visa-free access to the Schengen Zone.
- Quick and simple process.
- No residency requirement – the temporary residence permit is tied to the investment and investors do not need to reside in Hungary to maintain their status.
- A solid “Plan B” – the lack of any residence requirement and affordable pricing makes it a great contingency plan to hedge against economic or political instability.
- Top-tier education opportunities.
- Access to the EU market.
To know more about the Hungarian Residency by Investment Program or proper immigration planning anywhere in the world, contact us today to schedule a consultation with one of our experts.
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