Hungary introduces a new “residence-by-investment”-program for third-country nationals

From July 1, non-EU citizens in Hungary will be able to obtain a residence permit for 10 years. Many European countries are currently stopping similar programs. Bentley Golden Visa is entering this market.

Budapest, Hungary – April 19, 2024 /MarketersMEDIA/ —

Hungary will introduce a new residence permit option available to third-country nationals starting July 1. The permit will initially be valid for 10 years with the possibility of a subsequent 10-year extension. This new scheme is designed to attract investors and their families, offering them a pathway to reside in Hungary and enjoy visa-free travel throughout the Schengen area.

Eligible for the permit are the investors themselves, their spouses or partners, underage children, and economically dependent parents, all of whom can benefit from this unlimited right of residence.

The program targets three main groups: individuals who desire to relocate to Hungary, international business people seeking to avoid the lengthy visa processes associated with business or tourist travel to Europe, and those looking for a secure Plan B residence option.

Investment Options and Benefits

To qualify for what is being referred to as the Golden Visa, investors can choose between two investment avenues: a €250,000 investment in a Hungarian real estate fund or a direct purchase of property valued at no less than €500,000. Both investment types must be maintained for a minimum of five years. While the properties can be sold after this period, the residence permit remains valid until the end of its initial 10-year term. To apply for an extension, a qualifying investment must be in place at the time of renewal.

One of the distinct advantages of the Hungarian Golden Visa is the absence of a mandatory residency requirement, allowing investors to reside in Hungary at their discretion.

Impact on the Local Housing Market

The program stipulates that 40 percent of funds from real estate investments must be allocated to residential properties within Hungary. This strategy is expected to stimulate the construction sector and mitigate price pressures in the housing market. The high investment threshold ensures that the program does not interfere with domestic housing affordability.

Consultation Services by Bentley Golden Visa

Bentley Golden Visa Ltd, headed by Managing Director Dr. Marc Pinter, offers consultancy services to assist prospective investors in navigating the process to secure their European residence permit.

About the company: Bentley Golden Visa Ltd, Budapest is a professional consulting company for residence permits.

Contact Info:
Name: Dr. Marc Pinter
Email: Send Email
Organization: Bentley Golden Visa Ltd.
Address: Lomb u. 15, 1139 Budapest
Phone: +36 30 966 14 59
Website: https://www.bentleygoldenvisa.com

Release ID: 89127049

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