Attention! Hungary issues golden visa for non-EU citizens
That is how Hungary would like to attract foreign, non-EU investors to spend their money here.
According to Piac és Profit, the term ‘golden visa’ refers to special types of investments with which people can easily acquire the right to stay in a country.
Hungary began its brand new ‘Hungarian Guest Investor Program’ in January 2024, for which all non-EU citizens are eligible.
Those possessing this visa can travel to Hungary multiple times and stay here. They will have a so-called ‘guest investor residency’ permit to stay in Hungary.
However, there are some criteria you need to meet to get that kind of visa.
First, you can invest at least EUR 250,000 in Hungary. That investment is due within 90 days after your visa application approval. That means you cannot promise the Hungarian authorities that you will invest money in Hungary. You have three months to place your money here after you get that permit.
Your second option is to buy property in Hungary for at least EUR 500,000, and you cannot sell it for five years. That is why a surge of foreign investors is expected in Hungary’s luxury real estate market. We wrote about that HERE.
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The third option is that you support an educational, scientific, research or art project in Hungary with EUR 1 million at least. However, you can only get a visa if you help a foundation university in Hungary with that money.
The validity of the visa is 10 years (which can be extended by another 10 years), and you can spend 90 days in Hungary in a 180-day-long time interval. Furthermore, you may travel freely in the Schengen Zone, which is a considerable advantage. You can bring even your family with you!
Nothing wrong with this, so long as the applicants are well vetted.
Everything wrong with this! Just another form of non Western migration into Hungary/Europe.
Fidesz is creating a non-European foreign rich elite who will buy everything of value after first importing tens of thousand of Chinese into our country.
Plus, they also can take their family.
The next step will be granting nationality, which gives them next to economical also direct political power.
Good for Hungary, it’s already working well in other countries. As long as there’s a thourough control and it aligns with the country’s interest, it should work pretty well.