The attractiveness of relocation is determined by the complexity of the citizenship procedure. Today, attention is paid to the proposals of Hungary, which has introduced a new program with simplified requirements for foreigners.
Compliance with the conditions is not difficult, and the Hungary Golden Visa has a low investment threshold. Adding to this the visa-free regime, it becomes clear that interested investors have a lot to think about. To begin with, let’s focus on the requirements for foreigners and advantages of citizenship.
New Hungarian Golden Visa Program 2024
The Hungarian government has introduced a new version of the investment program. Today, supply is in demand as the country is joining the EU. The ways of entry and the privileges offered are the main points that require attention. Foreigners have access to the benefits of visa-free travel, residence in the Union, and access to quality healthcare.
The expected relaunch of Hungary’s golden visa program has led to the introduction of new rules. The changes are subject to review:
Minimum investment level. The amount of the contribution is from 250 thousand euros. These funds are allocated to real estate funds to improve existing residential properties and stimulate the creation of new buildings. At the same time, the options of purchasing premises and donating to education remain available.
Number of applicants. The main applicant can now add family members to his or her application. In this case, the added persons are exempt from paying any costs, including processing fees. Approval of the application leads to the possibility of studying or residing in the country.
Timeframe for consideration. The decision on an investor’s application does not take much time. The procedure takes up to 2 months, after which you can pretend for obtaining a residence permit and enjoy numerous benefits.
Approval of the request allows you to start enjoying the rights of the local population. Among other things, residents are offered to cross borders without a visa. Investor’s children have the right to receive education and work legally. In addition, applicants have the option to change their country to another one that also has EU membership.
Requirements for Applicant
According to expert Zlata Erlach (Immigrant Invest), you first need to learn about the requirements for an invited investor. This information will help to compare the conditions for obtaining a residence permit and the benefits of participation. The following documents can be used to confirm compliance with the Hungary golden visa criteria:
Bank statement. The funds that a foreigner sends in the form of investments must be obtained in a legal way. It is also necessary to prove the financial capacity to support the added members and live in the country independently.
Information on criminal record. The absence of open criminal proceedings is a confirmation of reliability. According to the terms of the investment program, it is necessary to provide evidence of the legality of obtaining capital. Fulfillment of these requirements allow you to get a preliminary approval of application.
Family status. Children who have reached the age of majority can be added to the list of applicants. This condition is valid for those who are not officially married. To do this, it is necessary to prove that they are dependent on the investor. Other added applicants must also provide documents proving their financial dependence on the entrepreneur.
Filing applications together with an accredited agent allows you to prepare the required package of documents in advance. The list of requirements includes translation into Hungarian and apostille certification. Cases will be considered starting from July 1, 2024.
Obtaining Process
Application processing takes up to 2 months. An investor who submits the documents to the consulate in advance will receive a response faster. The procedure for considering participation in the program consists of the following stages:
Preparation of documents. The package is collected while staying in your home country. For consideration of the case, it is necessary to apply for a guest visa to Hungary. For this purpose, it is proposed to use an online service from anywhere in the world.
Pre-approval. Under the terms of the Hungary golden visa program 2024, the investor must provide documents for verification. Upon completion of this stage, the main applicant deposits the capital in a specified way within 90 days. Confirmation of fulfillment of the obligations undertaken to participate in the program is attached to the previously prepared package.
Final approval. The main applicant and the added persons receive a residence permit in Hungary. The decision comes into force immediately after the announcement. The permit is valid for 10 years. During this time, the investor has the same rights as the permanent population.
Citizenship can be obtained after 8 years of residence. Invited foreigners draw up documents in accordance with the procedure established by law. Approval of the application for citizenship allows you to issue a passport, if it does not contradict the legislation of your country.
Conclusion
The preparation of documents and the application processing time stimulate demand for the offer. Due to the popularity of the program, it is easy to find answers to the question of how to obtain a Hungary Golden Visa. Consultation of accredited agents will be necessary to ensure that the process is carried out quickly and with minimal time.
