Hungary NEW Golden Visa: European Residency Made Easy

TL;DR

Hungary has introduced a new golden visa program that allows investors to obtain residency in Europe by investing in real estate, with options starting from €250,000.

Transcript

Hungary has launched a new golden Visa program if you want to get residency in Europe by investing into real estate then Hungary has a brand new option for you what a lot of people don't know is that Hungary already had really easy residency requirements if you wanted to get a shenen residency permit without permanent residency because they scraped... Read More

Key Insights

• 😚 Hungary already had a golden visa program, but it was closed after a misuse by a sanctioned individual.
• ✋ The new golden visa program aims to attract high net worth individuals and investors through real estate investment.
• 😘 With its low corporate tax rate, no wealth taxes, and favorable immigration rules, Hungary is positioning itself as an attractive destination for high-value immigration.
• ♿ The streamlined and official golden visa program will offer a 10-year residency permit, providing stability and access to the Schengen area.
• 😘 The program is expected to attract Chinese and American investors, as well as individuals seeking low corporate taxes and access to the Schengen area.
• 👍 The new program is likely to be approved as it was submitted by Hungary's own government.

Questions & Answers

Q: What was Hungary's previous golden visa program?

Hungary previously had a golden visa program where investors could start a company, buy property worth €240,000 through the company, and earn income from renting them out. This allowed them to obtain a residency permit.

Q: How does the new golden visa program differ from the previous one?

The new program aims to streamline the residency process and make it more guaranteed. It removes the requirement of starting a company and allows investors to directly buy property worth €500,000 anywhere in Hungary or invest €250,000 in a real estate fund.

Q: Can investors obtain permanent residency or citizenship through the golden visa program?

No, investors can only obtain a residency permit through the golden visa program. Permanent residency or citizenship can be obtained by living in Hungary, learning Hungarian, and meeting the respective requirements.

Q: What are the additional options for obtaining residency in Hungary?

Apart from the golden visa program, investors can also obtain residency by buying an apartment worth over €100,000 and renting it out or opening a company and engaging in business activities while paying the 9% corporate tax.

Summary & Key Takeaways

• Hungary had an easy residency program with permanent residency options, but it was closed after a Syrian man who was sanctioned by the US took advantage of the program.

• The new program, called Guest Investor Program (GIP), requires a minimum investment of €250,000 in a real estate fund or €500,000 in real estate.

• The details of the program, such as open market access or restricted locations, are yet to be disclosed, and it will not be active until late 2024.