On 27 January, the Hungarian National Directorate–General for Aliens Polising announced the second real estate investment fund eligible for the Residence by Investment program. Below are some details and a brief overview of the key terms and conditions of the program.
Highlights of the Hungary Residence by Investment program
Hungary has launched an updated Residence by Investment program at the end of 2024. Its participants are granted a 10-year residence permit with the right to renew it once for the same period.
The investor may include a spouse and children in the application. If the applicant is not planning to obtain subsequent citizenship, no minimum period of residence is required.
There are two ways to participate in the program:
- A donation to a higher education institution in Hungary amounting to $1,000,000 or more.
- Investments of €250,000 or more in government approved property funds.
Which funds are eligible for the program?
The investor may purchase units in property funds listed as “qualified market operators”. Among the conditions for being included in the list is successful completion of a national security verification.
Currently, there are only two verified funds, investments in which give the right to obtain a residence permit.
SPRINT was the first fund to receive approval by the authorities in autumn 2024, which was six months after the launch of the program. At the moment of publication of this article, it does not accept applications from Russian citizens, regardless of whether they have a second passport.
The second fund, which was announced at the end of January, is Gránit Fund Management. It informed that applications will be accepted without restrictions on nationality.
However, the final decision rests not only with the fund, but also with the management company, migration authorities, and others.
What are the additional costs involved in fund investing?
Administration fees: from €60,000 for 1–4 persons per family.
Health insurance: from €250 per person.
Fund subscription: from 0,800% to 4% of the total investment, subject to the fund selected (i.e. from €2,000 to €100,00).
Asset management fee: from 2% to 2,5% of net asset value per annum.
Custody fee: from 0% to 0,09% per annum of the net asset value.
Maintenance fee: from 0% to 0,175% per annum of the total investment.
What are the rights and benefits of the Hungary Residence by Investment?
Hungary residence permit allows you to live, establish accounts, and do business in the country, as well as enjoy visa-free access to other Schengen states. In case of permanent residence for 8 years, successful completion of the language test, and integration into the society, investors can apply for citizenship.
What is the procedure for obtaining the Hungary residence permit?
1. Consultation with Astons immigration expert and document preparation
2. Application for a Guest Investor Visa at the Hungarian Consulate. This is a single entry visa that allows the investor to come to Hungary. It is valid for 6 months and is issued only to the investor, as family members join the application under the “family reunification” program.
3. Applying for the Hungary residence permit. The investor must visit Budapest within 3 months to submit documents and biometrics (1-2 days).
4. Opening an investment brokerage account and application by family members, which can be dine remotely at the Hungarian Consulate in your country of citizenship/residence.
5. Investment commitments fulfilment
6. Receiving a resolution on the residence permit (the application is processed within 21 days)
7. Obtaining a residence card
