Yes, Hungary does offer a legal pathway to obtain Residency By Investment. (Although technically speaking, it leverages a legal framework for “non-lucrative residency”, rather than explicit Golden Visa legislation). Launched on 18 April 2023, the country’s residency program offers non-EEA nationals a flexible, Golden Visa style residency in exchange for a residential property purchase of as little as HUF 56,000,000 (~€148,416, or ~$162,520) .
The property has to be completed (i.e. habitable – not purchased off-plan), of a suitable size, and cannot be rented out. Commercial properties are not eligible under the program.
A key drawcard of the program is that no capital has to be committed until such time as residency approval has been granted and the applicants’ Hungarian ID cards have been issued.
And another point that makes the new Hungarian Golden Visa unique – both Russian and Belarusian citizens are eligible to apply.
A con of the program is that you can’t get a local job in Hungary, as this is a “non-lucrative” residency type. You can also NOT start a Hungarian company on this visa (although there is a residency category that caters for this).
Contact us now for more information on the new Hungarian residency program or click here.