Hungary introduces new Golden visa programme

Hungary has approved the investor visa for the purchase of real estate under the new status of the law on mobility of third-country nationals. The duration of the residence permit under the new programme is a maximum of 10 years and it can be extended for the same maximum period.

In order to participate in the programme, an investor should meet one of the conditions: to buy an object worth 500 thousand euros, invest from 250 thousand euros in Hungarian real estate funds or donate 1 million euros to a higher education institution to support educational, scientific or creative activities.

The law has been accepted and signed. According to Tranio’s Hungarian partners, the immigration office is expected to start accepting applications from 1 March 2024. However, it will be possible to purchase property earlier than this date.

Source: Wolters Kluwer