The GIP will award successful applicants with a “ guest investor visa” valid for two years. During his period, they can obtain a ten-year residency permit. New Hungarian Residency, ten-year residence permit, is not a permanent residency and that may prove much better in taxation sense. Validity for 10 years and can be prolonged if the investment was proved to be properly done. Plus, there are other conditions yet to discover. APEX lawyers in Hungary are monitoring the situation, and we will definitely tell you more about the program as it develops.
Hungary shut down a similar program in 2017 for a number of different reasons, including a scandal involving a Syrian under US sanctions who received a residence permit. That one granted residency and unfettered travel in the EU to buyers of €300,000 of government bonds.
What can you apply for now if you are interested in Hungary, that is, a residence permit in the EU?
Buying or renting an apartment in Budapest can become the basis for applying for a Hungarian residence permit of the Other Purposes type for the whole family. There are certain requirements for stay, but registration can be started remotely.
