Have you heard the expression of the Golden Visa? I am sure you had. A RESIDENCY program which allows any third-country national to get residency in Hungary by property investment from 1st January, 2025. Such a permit grants its owner free travelling within the SCHENGEN zone and lots of other benefits. For more details, please read further.

The new immigration law which was launched on the 1st of January, 2024 stated that the new residency permit for guest investors – known as the Golden Visa – will be available from 1st of July this year. The permit can be applied by ANY THIRD-COUNTRY national who decides for one of the three investment options detailed by the law.

The 3 OPTIONS are as follows:

1. acquisition of an INVESTMENT FUND share of at least EUR 250 000 issued by a real estate fund registered by the Hungarian National Bank;
2. purchase of a RESIDENTIAL PROPERTY in a value of at least EUR 500 000 in the territory of Hungary;
3. provision of a FINANCIAL DONATION in an amount of at least EUR 1 000 000 for a purpose of educational, scientific research or artistic creation activities, to a higher education institution maintained by a public trust with a public-service mission;

Currently only the first option, the acquisition of investment fund shares is available for applicants. The possibility of RESIDENCY BY  PROPERTY INVESTMENT will be open from 1ST JANUARY, 2025. Whether the 500,000 EUR has to be invested into one property purchase or the invested amount can be shared between 2 or 3 apartment purchases, it is still an outstanding question.

The residency permit is GRANTED for 10 YEARS which can be extended after its expiry with another 10 years. Exceptional is that the applicant does not have to live within the country to extend his permit, there is no minimim stay requirement. Upon receipt of the permit by the applicant, he/she can start the FAMILY REUNIFICATION process and receive the permit for her/his spouse and minor children.

Beyond the succesful application of the permit, it is essential to INVEST the required minimum amount of 500,000 EUR in the BEST POSSIBLE WAY. This is what I can guarantee for my clients with 20 years of experience on the Budapest property market. From the wide selection of apartments for sale, I can find and select those flats which will offer a long-term safe investment, the possible highest RETURN during its ownership and a lucrative exit strategy.