Golden visas are becoming increasingly popular among global investors and business professionals seeking to expand their capabilities and horizons of doing their business, assets and freedom by obtaining a residence permit or citizenship in different countries. Hungary offers entrepreneurs and wealthy individuals a unique opportunity to gain access to the European Union and take advantage of life in this thriving economic center. Which is one of the first and most important factors when choosing where exactly you want to go for this purpose. If you are a businessman interested in exploring various ways to obtain a golden visa to Hungary, you have come to the right place. In this comprehensive guide, we will guide you through the entire process and provide you with fully up-to-date information, tips on expanding your horizons on the submitted issue.
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Understanding the Golden Visa Program
The term “Golden Visa” refers to the state program for obtaining a residence permit, which grants investors and their families (also please pay attention to this, since not every country is ready to provide you with this opportunity) the right to residence or citizenship in exchange for significant monetary investments. These programs are attractive because they can offer many benefits, including visa-free travel within the Schengen area, access to local healthcare, education and other social benefits in your host country. The Hungarian Golden Visa program allows you to obtain a residence permit for yourself and your family members (spouse, minor children and dependent parents), and eventually you will be able to apply for citizenship. And to be fully and officially a citizen of this beautiful country.
Investment options in Hungary
There are several ways to invest in the Hungarian market in order to meet the requirements for obtaining a residence permit:
Real estate Investment: Buying a property in Hungary can speed up the process of obtaining your residence permit and has a number of advantages. The minimum requirement is the purchase of a property worth at least 300,000 euros. The property can be used for residential or commercial purposes. It is important to note that Hungarian law requires foreigners to obtain the approval of the relevant authorities before buying a property. So before concluding a deal, you must wait for the official confirmation of the government.
Investing in Business: Investing in business can also grant you a residence permit, provided that the investment is substantial and contributes to the development of the Hungarian economy. This option usually requires a minimum investment of 200,000 to 300,000 euros, depending on the nature, niche, structure and location of the business.
Government Bonds: Hungary used to offer a resident bond program that provided residency for investments in government bonds. However, in March 2017, the program was suspended. It is important to keep an eye on the latest updates and possible new options in this area, as the situation may change and this type of investment will be available to you again.
The process of applying for a golden visa in Hungary is relatively simple, although it involves some minor bureaucratic obstacles. Before submitting an application, it is extremely important to have a clean criminal record, a document confirming the availability of medical insurance, and a valid passport. The following steps describe the application process:
Choose your investment option: Think about which investment option best suits your financial and personal goals. A professional financial advisor or immigration lawyer can help you make an informed decision and prepare the necessary documentation with you. Also, do not forget that these specialist services are paid separately according to the price list set by them.
Prepare the necessary documents: Regardless of the investment option, you will need various documents, such as passports, birth certificates, proof of financial means and proof of medical insurance. It is extremely important that all documents are translated into Hungarian and duly notarized. Since without this action, your personal data will not be accepted for processing.
Apply to the Hungarian Consulate: Send your application, proof of investment and supporting documents to the Hungarian Consulate in your home country or country of residence. Processing times vary, but expect a decision to be made within a few weeks. This is a fast time, also a pleasant moment that it is not necessary to go to Hungary for this and you can stay in the country of residence when applying.
Obtaining a residence permit in Hungary: If your application is approved, you will be issued a residence permit in Hungary, which must be obtained while already in Hungary. The permit is usually valid for five years.
The path to citizenship
After obtaining a residence permit in Hungary for a period of eight years and successfully passing the assessment, which includes an interview for naturalization, a test of knowledge of the Hungarian language, which can be easily passed while in the country for some time and socialized in society and a background check, you can apply for citizenship. Obtaining Hungarian citizenship will give you access to benefits such as the right to vote, greater mobility within the EU and the possibility of obtaining a Hungarian passport to facilitate travel around the world.
Expert help is important
Although the process of applying for a golden visa in Hungary is relatively simple, it can take a lot of time and be overwhelming for those who are not familiar with the laws and regulations of the country. Hiring a professional translator, financial advisor or an experienced consultant can simplify the process, ensuring that you meet all the requirements and avoid bureaucratic mistakes.
Hungary’s Golden Visa provides entrepreneurs and investors with a unique opportunity to obtain a residence permit or even citizenship in this dynamically developing economically and culturally country. By understanding the investment options, the process of applying for a residence permit and the potential path to citizenship, you will be able to better navigate the often complex world of residence permit and citizenship programs. Proper research, qualified guidance and a clear understanding of the requirements and expectations can help you unlock the incredible possibilities of the Hungarian Golden Visa.