Hungary Launches Guest Investor Program

The country will resume issuing “golden visas” from July 01

Hungary Launches Guest Investor Program

Hungary is deploying the Guest Investor Program (GIP)The program was discontinued in 2017, and is now being revived under the name Guest Investor Program (GIP), a program of invited investors. It is also known as the Hungary Residence by Investment.Requirements for applicants:• lack of citizenship or residence permit of the countries of the European Union and the European Economic Area;• age over 18 years;• no criminal record;• availability of a legitimate permanent source of income. 
In order to apply for such a permit for the right to long-term residence in Hungary, you need to choose one of three options for investing money in the local economy:1. purchase of a share of one of the real estate funds in the amount of at least 250,000 euros;2. purchase of residential real estate worth at least 500,000 euros;3. donation to one of the universities represented in the state of at least 1,000,000 euros.The first step is to obtain a guest investor visa, which is then used to enter the country to make investments. Initially, the investor was given two years to do this, but now this period has been reduced to six months.In addition, two more important changes have appeared in the regulation on “golden visas”:  – the purchase of residential real estate on the conditions specified above will be credited for obtaining a “golden visa” only if the transaction took place after January 01, 2025; – the list of mutual funds, investments in which are counted for participation in the program, will be determined by the Hungarian Office for Protection The Constitution – after the submission of the application by those and subsequent verification.The holder of the “golden visa”, as well as his/her spouse, minor children and parents, if they are over 65 years old, have the right to obtain a long-term residence permit in Hungary, subject to renewal.If the applicant’s children are already 18 years old, then the opportunity to include them in the program remains, but it is necessary to prove that the children are studying, are not married and are financially dependent.After 8 years of legal residence in Hungary, you can apply for citizenship. You will have to take an exam for knowledge of the Hungarian language.

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