Why choose the Hungarian Residency By Investment program as your Plan B in 2023?
Launched in 2023, Hungary’s Residency By Investment program has a minimum capital requirement of just €155,000. Given the imminent demise of the Portuguese Golden Visa, and the looming price increase for the Greek Golden Visa, the newly launched Hungarian Residency By Investment program has already garnered significant interest from foreign investors looking for a back-up plan against the uncertainties their home countries are facing.
(And yes, both Russians and Belarussian nationals are eligible to apply.)
Centrally situated and boasting world renowned cuisine, a vibrant culture, and spectacular Art Nouveau architecture Hungary, and the capital of Budapest, in particular, offers modern sophistication and classic old-world charm.
While from a foreign media perspective Hungary’s politics may seem marred by upheaval, recent research shows that it is one of the EU’s most stable governments. The country’s border control measures are pragmatic and effective, and its economic policies have positioned the country well to prosper in the mid to long term.
Migrant investors can look forward to a high-quality of life – at a cost of living that can be up to 50% lower than in countries like France or Germany.
In addition, Budapest enjoys excellent flight connectivity, and a 3-4 hour office hour overlap with New York City (6-hour time difference).
The city is also fast gaining in popularity as a tech and startup hub. As of April 2023, the city is home to a growing number of startup accelerators and a wide range of funding players (170+ startups, supported by over 4,000 local angel investors).
Hungary serves as an excellent gateway for accessing the rest of the European market (500 million+ potential customers) without any import tarrifs or trade barriers. Manufacturing companies, in particular, are attracted to Budapest due to its central geographical location and great transport links with the rest of the continent.
According to the Hungarian Central Statistical Office’s 2021 data, approximately 57.5% of the Hungarian population identified as Christian, while 27.2% identified as having no religion, or did not specify a religion.
While economic growth is set to remain subdued for the rest of 2023 as the economy gradually adjusts to higher energy prices, the Hungarian economy is projected to grow by 2.6% in 2024, with inflation dropping to 4%.