Hungary is resuming the issuance of "golden visas" for investors
Hungary. Source: Wikipedia
Hungary has announced the resumption of issuing "golden visas." The new program called the Guest Investor Program, is scheduled to be launched in January 2024 and represents an improved version of the previous system with more diverse investment opportunities.
It is noted that this comes six years after the closure of the temporary residence permit program for investments, as reported by IMI.
New terms of the program:
- Investments in local real estate funds starting from €250,000;
- Purchase of residential real estate in Hungary for an amount of €500,000 or more;
- Investing a minimum of €1 million in public funds.
Upon approval of the application, the investor will receive a 2-year visa. While using a two-year visa, a 10-year residence permit is issued.
The Hungarian 'golden visa' does not require residency in the country, grants the right to travel within the Schengen area, and provides access to local healthcare and education.
