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Starting July 1, 2024, the Hungarian authorities will resume the Golden Visa program. Foreigners will be able to obtain a residence permit in the country by choosing one of three investment options. It is reported by Schengen news.

One of the EU countries resumes the Golden Visa program: details

It is known that the relevant program was closed in 2017, as it “did not bring any benefit to the economy”.

It is emphasized that such a program in Hungary provides for obtaining the right to reside through real estate investment.

In particular, starting from July 1, citizens of non-EU countries will be able to obtain a residence permit in Hungary through the renewed Golden Visa program, now known as the Guest Investor Program (GIP).

It should be noted that participation in the program requires significant financial investments. Foreign nationals can take advantage of the program through three investment options:

• Purchase of a unit in a real estate fund for at least EUR 250,000.

• Purchase of residential real estate for EUR 500,000.

• A donation of at least EUR 1,000,000 to a higher education institution in the country.

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How to participate?

To become a participant in the program, you must be over 18 years old, have transparent sources of income and no problems with the law. Program participants are eligible for visa-free entry to all EU countries. The residence permit also covers the investor's spouse, minor children and parents.

According to the European Commission, the Golden Visa program brought Hungary 1.4 billion euros from 2013 to 2017. During this period, 4,794 residence permits were issued to foreigners. 

We remind you! Citizens of Ukraine can obtain a Blue Card for long-term residence and employment in Germany. It allows not only to work and live in the country, but also provides an opportunity to obtain a permanent residence permit and even citizenship. Read more about what is required to obtain the relevant document.

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Ihor Usyk is the Head of Legal Department at Visit Ukraine

On the Visit Ukraine portal, you can get legal advice on migration law. Our lawyers will answer all your questions and, if necessary, help you collect, submit and receive the documents you need. You can order a specialist consultation or full legal support by following this link.