How to Get a Residence Permit in Hungary by Investing in Real Estate: Step-by-Step

Hungary offers an attractive residence permit option for foreign investors looking to move to the European Union. By investing in real estate, you can secure a long-term stay in Hungary, while enjoying access to all the benefits of living in an EU country. 

This article will guide you through the Hungary Golden Visa Program steps to obtain a residence permit by investment, along with the key benefits and requirements.

What is Hungary Residence Permit by Investment

Hungary’s residence permit program allows non-EU nationals to obtain a residence permit by purchasing property. This option is designed for individuals seeking to live in Hungary or the European Union. While it does not immediately grant citizenship, it provides a pathway to long-term residency and access to the EU.

The residence permit can be renewed annually as long as the property remains in your possession. Investors can live in Hungary or travel freely within the Schengen Area. However, it’s important to note that while the permit grants long-term residency, it does not automatically grant the right to work in Hungary unless you apply for additional permits.

You do not need to reside in Hungary permanently to maintain your residency status. The residence permit offers flexibility for those who wish to keep their main home elsewhere while still enjoying the benefits of Hungarian residency.

9 Benefits of Hungary Golden Visa

Why investors choose Hungary for residency.

1. Access to the EU. As a member of the EU, Hungary offers investors the right to live, work, and travel freely within the Schengen Area.
2. Business opportunities. Hungary’s strategic location in Europe makes it a hub for business, trade, and innovation.
3. Affordable living. Compared to other EU countries, Hungary offers a relatively low cost of living.
4. Cultural richness. Hungary has a rich history, stunning architecture, and vibrant cultural life.
5. Tax Benefits. Hungary has favourable tax policies for investors, including low personal income tax rates.
6. Family inclusion. The residence permit can cover immediate family members, including spouses and children.
7. No minimum stay requirement. Unlike some countries, Hungary does not require you to live there for a specific period each year.
8. Path to permanent residency. After 3 years of holding a residence permit, investors can apply for permanent residency.
9. Property market growth. Hungary’s real estate market is growing, offering potential capital gains for property investors.

Residency in Hungary by Real Estate Investment

To qualify for the Hungary real estate residency, you need to invest in Hungarian residential property valued at a minimum of €500,000. The property can be residential or commercial, and it must be free from any legal issues. The investment should also be made in Hungary’s real estate market, as this is the primary criteria for eligibility.

In addition, Hungary allows investors to purchase multiple properties, as long as the total value meets the minimum required amount. This gives flexibility for those who wish to diversify their investment portfolio. Property investors can also rent out their property, generating rental income during the ownership period.

Hungarian Residence Permit Requirements

What you need to meet the eligibility criteria.

1. The minimum required investment is €500,000 in Hungarian real estate.
2. You must hold a valid passport with at least 12 months of validity remaining.
3. You must provide proof of adequate health insurance coverage for you and your family.
4. Applicants must not have a criminal record in Hungary or their home country.
5. You need to demonstrate that you have the financial means to maintain your stay in Hungary.
6. The property must be fully owned and legally registered in your name.
7. You should demonstrate sufficient financial resources to cover your living costs during your stay in Hungary, though the specific amount required can vary based on individual circumstances.

Application Process

Step-by-step guide to applying for a residence permit.

1. Find property. Choose a residential property in Hungary worth at least €500,000. Ensure it is free of legal encumbrances and is suitable for investment.
2. Prepare documentation . Gather necessary documents, including your passport, proof of investment, proof of income, and health insurance.
3. Submit application. Apply at the Hungarian immigration office or embassy. The application process involves submitting your documents and undergoing a background check.
4. Approval. Once your application is reviewed and approved, you will receive your residence permit. This process typically takes 5 months.
5. Travel to Hungary. After approval, you can travel to Hungary to complete additional steps, such as submitting biometrics and attending an interview if required.
6. Receive residence permit. After completing all steps, you will receive your residence permit, which is valid for one year and renewable. The permit can be renewed annually as long as you continue to meet the requirements.

Conclusion

Obtaining a Hungarian residence permit by investing in real estate is a straightforward process, offering long-term benefits. With a €500,000 investment, investors gain access to Hungary and the broader EU, along with opportunities for business, lower living costs, and a high quality of life. This residency option provides a flexible solution for wealthy individuals seeking a stable base in Europe, with the added benefit of a growing real estate market.