Hungary has announced restarting offering Golden Visa program that allows foreign investors to obtain residency for decades in the European nation.

Hungarian Golden Visa

The Central European nation allows foreign residents to make qualifying investments in government bonds as the Golden Visa Program which was closed six years back.

Hungary Golden Visa Program lies in the guest-investor category, but is specifically for those who deposited amounts in state-run investment projects. The applicant needs to purchase real estate, make a business investment, or contribute to a government fund, and in return, investors are granted residency or citizenship.

Lately, a draft bill was presented in the country’s parliament, and as per the scheme, a guest-investor visa is a basic condition to apply for Hungarian residence.

The scheme was first introduced its Golden Visa program around a decade back, and it continued till 2017.

How to apply for Hungary Golden Visa Program 2023

To avail the opportunity, applicants need to invest at least €250,000.
As per the conditions, the foreign investor need to invest in strategically important project, by buying a Hungarian real-estate fund share of €250,000 or real estate worth €500,000.
Make 1Million Euros donation to educational or cultural institution

Please visit https://konzinfo.mfa.gov.hu/en/visa-application-forms to get latest updates.

Schemes like Golden Visa and Golden Passport are known for being crucial to economies of the countries like Hungary, but it also raises security concerns in wake of reports of their involvement in several irregular acts, including money laundering and other corrupt practices.