Looking to obtain Hungarian residency by investment in 2020? While the often controversial €300,000 Hungary Government Bond Residency Program was discontinued on 31 March 2017, foreign investors can still apply for Hungarian residency through business formation – for now. Find out more about this relatively unknown EU investor visa program below, or contact us now for a free consultation.
NEW: As of February 2023, foreign investors also have the option to obtain Hungarian residency on the basis of property investment.
With eligible investments priced from around €155,000 (HUF 56m) excluding professional service and governmental processing fees, and with the ability to reunify your family right away, the Hungarian “Golden Visa” is the fastest, most affordable EU residency by property investment program on the market in 2023.
Moreover, you only have to purchase a property once your residency has been approved, and your family’s Hungarian ID cards have been issued.
And unlike with most competing programs, there are no significant annual maintenance costs associated with your Hungarian residency.
The Hungary Business Investment Visa Program at a glance
Hungary also offers non-EU nationals the ability to apply for Hungarian residency by establishing and capitalising a Hungarian company. A minimum business capitalisation of only €50,000 is required, with professional fees from €30,000. In addition, applicants are required to provide proof of legitimately obtaining the funds being invested, and they have to be of good international standing. A clean criminal record is another key requirement.
Upon having met the business formation and capitalisation requirement, applicants can apply for a 1-year temporary residency permit (visa). This permit can be extended for a period of 2 years, after which a long term residency rights are granted for a period of 5 years.
MINIMAL CAPITAL INVESTMENT: With a minimum business capitalization requirement of only €50,000 and facilitation fees from only €30,000, the Hungarian business investment residency program offers unparalled value for money – especially when compared to the Portuguese Golden Visa or the Spanish Golden Visa Programs.
(Alternatively, you can also have the option of simply acquiring a property worth just around €155,000, in which case the service fees are €30,000, and the government processing fees are an additional €30,000. See this option above.)
In addition, the returns on your investment can help offset the required social contributions and mandatory costs associated with maintaining your residency.
STRATEGIC LOCATION: Situated in close proximity to Austria, Slovakia, Romania and Croatia, Hungary is an excellent choice for South African business people seeking to establish a footprint in Schengen Europe. Most of Europe’s key cities can be reached by air within 2 hours or less, and doing business remotely with South Africa is a synch, given the closely correlated time zones.
PATH TO CITIZENSHIP: After having maintained residency and the minimum required in-country presence for a period of 8 years, residency holders can apply for Hungarian citizenship, obtaining EU citizenship rights in the process.
START YOUR BUSINESS IMMIGRATION APPLICATION REMOTELY: A key benefit of the program is that the applicant can complete the company formation and bank account opening stages prior to visiting the country.
EU FAMILY RESIDENCY RIGHTS: The primary applicant’s spouse and dependent children aged 18 or younger can also apply for Hungarian residency under the primary investor’s application.
NO LANGUAGE PROFICIENCY REQUIRED: While gaining a basic proficiency in Hungarian would be very useful, the program does not require applicants to be able to undertake any language tests as a pre-requisite requirement.
GLOBAL LEGACY: EU residency rights can be transferred to your loved ones and their descendants, making acquiring EU residency by business formation one of the best long term investments you can make on behalf of your family.
FLAT FEE COMPANY TAXATION: Hungarian corporate tax is levied at a flat rate of 9%, making it a highly attractive jurisdiction from a taxation perspective.
Golden Visas gives you access to some of the EU’s most acclaimed investor residency programs. We specialise in both Golden Visa Programs and residency by investment programmes, and work with the finest investment emigration specialists in the country.
Complete the form below to get in touch today. Annual client intake slots are limited, and EU residency legislation is rapidly becoming stricter, so get in touch now to avoid missing this closing window of opportunity.