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Why Hungary is a Top Destination for Seeking Permanent EU Residency?
Hungary is a landlocked country situated in Central Europe. It is well known for its rich diversity, exquisite landscapes, natural resources, and much more. The country’s Residency by Investment program offers a secure and prosperous lifestyle for individuals and families seeking permanent residency.
We will review the Hungarian Residency program in detail, including its benefits, investment options, eligibility criteria, process timeline, and more. This will assist you in making an informed decision about how Hungary’s Residency program can best suit your needs.
About Hungary
Hailing as one of the European Union members, Hungary is known for its picturesque beauty and harmonious lifestyle. Its capital city, Budapest, is known as one of the top tourist destinations around the world for its stunning architecture, art museums, and a range of UNESCO World Heritage sites.
The country experiences warm summers and cold winters, creating a climate that supports a balanced lifestyle. The official language is Hungarian, though English is also widely spoken throughout the region.
The population of the country is 9.6 million, ensuring an inclusive community. The currency of the country is known as the Hungarian Forint. (1 DHS =99.68 HUF)
About Hungary’s Residency Program
Hungary’s Residency by Investment program, often referred to as the Hungarian Golden Visa was launched in 2023 and designed to attract foreign investors as well as provide them with a pathway to permanent residency.
This program is particularly appealing for its fast-processing time, favourable tax systems, premium lifestyle, and more, making it an ideal choice for individuals and families looking to settle in the European region.
Benefits of the Hungarian Residency Program
The Hungarian Residency program is known for its wide array of benefits. Some of the top advantages of the program are given below-
- Easy EU Mobility: Obtaining Hungarian residency allows for travel within the Schengen Zone without the need for additional visas. This grants residents the freedom to explore 26 European countries easily.
- Access to Excellent Education and Healthcare: Permanent residents in Hungary can access high-quality education and healthcare services, enhancing the overall standard of living for families.
- Easy opening of bank accounts in Europe: As a Hungarian resident, individuals gain access to a wide range of banking services across Europe. This allows investors the ability to open personal and business accounts with ease, facilitating everyday transactions and financial management.
- Family Inclusion: The program permits applicants to include their family members in one application, such as spouses and children under 18. This makes it a secure option for families looking to relocate together and build an opportunistic future.
- Business Opportunities: Hungary offers a premium business environment owing to the country’s growing and robust economy. This enables individuals to work in leading business industries and plan for their future more efficiently.
- Fast Processing Time: The Hungarian Residency by Investment program can be completed within the timeframe of just 3 months from submitting the documents to the issuance of a renewable 10-year Hungarian residency permit.
- Tax-Friendly Environment: Hungary offers a favourable tax environment, featuring the lowest corporate tax rates in the European Union at just 9%, with no taxes imposed on dividends or capital gains. Additionally, it has a personal income tax rate of only 15%.
- Cultural Richness: Living in Hungary provides an opportunity to immerse oneself in a rich cultural heritage, with vibrant museums, historical monuments, and a diverse culinary experience.
Investment Options for Hungarian Residency
Applicants can choose between two investment options to obtain residency in Hungary. The two investment routes are-
- Investing in the Real estate investment fund supervised by the Hungarian National Bank.
Minimum Investment Amount: €250,000
- Investment in residential real estate property in Hungary.
Minimum Investment Amount: €500,000
Eligibility Criteria for Hungarian Residency
To apply for Hungarian residency, the applicant must fulfill the following criteria.
- The applicant must be 18 years of age.
- The applicant must complete a background check.
- The applicant must showcase a clear criminal record.
- The applicant must present proof of adequate financial resources to support themselves and any dependents.
Please note- There may be additional requirements in specific cases.
Process Timeline of Hungarian Residency
- Client Assessment: Conduct a thorough evaluation of the client’s eligibility and requirements for residency.
- Client On- Boarding: Finalize the contract and complete the payment of professional and legal fees associated with the residency application.
- Application Submission: Submit the residency visa application at a Hungarian consulate.
- Financial Verification: Demonstrate the availability of funds for the investment, which may involve opening a bank, brokerage, or escrow account in Hungary.
- Residency Permit Application: Travel to Hungary to file for the residency permit in person or submit the application electronically.
- Investment Implementation and Registration:. Execute the investment and register it with the Immigration Office to finalize the residency process
- Approval of the Application: Once the requirements are met, wait for the application approval to successfully complete the process.
Get in Touch
Considering embarking on the journey towards a second citizenship through investment? We’re here to guide you every step of the way. Our team of experts is just a call or an email away, ready to provide you with bespoke advice tailored to your unique needs. Reach out to us at +971 4 393 0 393 or drop us an email at info@uno-capital.com.
