The guidelines for the Guest Investor (Golden) Visa Programme for 2024, which is aimed at property buyers, have been announced by the Hungarian government. On January 1, 2024, the Immigration Regulations XC of 2023 were formally published in the gazette and subsequently came into force, regulating the admission and residency of nationals of third countries. Hungary revived the Golden Visa Scheme in 2024, having run a previous iteration of the Golden Residence Bond Programme from 2013 to 2017. On July 1, 2024, authorities will begin to accept proposals for investments from visiting investors.
A unique type of visa, the Guest Investor Visa allows multiple visits, a validity length of up to two years, and a stay in Hungary of more than ninety days during a 180-day period. Furthermore, foreign people with a guest investor visa who are in Hungary may apply for a guest investor residence permit.
Third-country nationals who meet certain legal requirements may be granted a Guest Investor Visa by Hungary. These requirements include investing a minimum of 250,000 euros in investment units (shares) linked to a registered real estate fund, buying residential property in Hungary for at least 500,000 euros, or making a legally required monetary donation of at least 1,000,000 euros.
When reviewing applications, the Immigration Enforcement Authority (OIF) takes into account the advice of pertinent agencies as required by law. A third-country national’s Guest Investor Residence Permit renders the Guest Investor Visa null and void immediately.
A citizen of a third country who satisfies the legal requirements for extraordinary circumstances, has a valid guest investor visa, or is exempt from needing a visa under applicable EU legislation, may apply for a guest investor residence permit. They can operate in Hungary as a senior official of a cooperative, commercial firm, or other legal body created to generate revenue with this permit. In order to facilitate family cohabitation, family members may also apply for a residence permit based on the status of the third-country national, which will allow them to work in Hungary under the same terms as Hungarian nationals.
If you enter Hungary using a Guest Investor Visa, you have ninety-three days to apply for a residence permit; if you are exempt from the visa requirement, you have ninety-three days to apply after your initial legal arrival into Hungary. Applications can be submitted electronically using the Enter Hungary system or in person at the immigration police customer service.
Third-country citizens wishing to apply for a Guest Investor Residence Permit must verify via the Enter Hungary system that they have completed the legally-mandated investment within three months of arriving in Hungary. The third-country national’s data must be updated and notified through Enter Hungary within five days of any changes.
The law offers more thorough rules with regard to real estate investments and investment certificates. Third-country nationals must possess an investment certificate issued by a real estate fund that satisfies certain legal requirements for a minimum of five years in order to comply with § 16(3)(a).
The residency permit may be renewed once for an additional 10 years with the same intent, and its maximum validity is 10 years. It is vital to distinguish between different investment types while extending the Guest Investor Residence Permit. The terms of the extension are contingent upon the type of initial investment, which may include obtaining shares of investment certificates, holding onto real estate, or contributing a certain amount of money.
