Hungary, a sovereign state and EU member, boasts a developed parliamentary republic since 1989. With a strong economy, attractive investment opportunities, and a high standard of living, Hungary is an ideal destination.
As a landlocked Eastern European country, Hungary offers a unique blend of history, culture, and economic growth. The country's commitment to a liberal parliamentary democracy ensures a stable and secure environment for residents.
Investors in Hungary benefit from a moderate to high economic growth rate, with over 80% of the GDP contributed by the private sector. Foreign investment is common, and the country serves as a strategic location within the EU.
Hungary's currency, the Hungarian forint, is the financial backbone, and the country stands out for its work-life balance and social relations. While challenges exist, especially in areas like income and education, Hungary remains an affordable EU country with vast potential for those seeking a golden visa opportunity.
The Hungarian Residency by investment program
The Hungarian Residency by Investment Program is an unparalleled opportunity that stands out as the most cost-effective EU Golden Visa solution.
This initiative strategically channels investments into the thriving real estate market of Budapest, recognized as one of Europe's most promising and dynamically growing urban centers. What sets the Hungary Golden Visa apart is its unique risk-free approach—investments are only required after receiving official approval. This distinctive feature ensures investor confidence, making the program a secure and compelling choice for those seeking European residency.
Investment Requirements
Real Estate Investment in Budapest
To qualify for the program, the chosen property should possess a minimum value of €155,000 (approximately $170,000 USD). Whether opting for a newly constructed residence or one from the existing inventory, all types of residential properties are deemed eligible. However, prospective investors must secure preliminary approval from the Land Committee, ensuring adherence to regulatory standards.
Additionally, a thorough evaluation process awaits, involving Due Diligence and Income checks, with a stipulated requirement of establishing an annual income of at least €75,000 for a family of four. Upon selecting the desired property, investors are obligated to make a 10% deposit. Following the crucial step of obtaining final approval, the remaining property price and all associated program fees must be settled in full within 90 days, solidifying your pathway to Hungarian residency through this dynamic investment initiative.
Additional Program Fees
Some of the additional program fees are:
Sales tax – 4%
Stamp duty – €135
Other expenses – €200
Budapest legal fees for property transaction – from 0.4 to 1%
State immigration fees for residency process – €30,000
Benefits of Hungary Residency
Some of the benefits of the Hungary residency are:
Route to EU Status: achieve permanent residency in just 3 years, and the possibility of citizenship after 8 years.
Free travel: With legal residency in Hungary comes the right to travel throughout most of Europe, including the 26 remaining EU countries, the Schengen Zone, Monaco, and Andorra.
Eligible Family Members: the program is inclusive, allowing the main applicant, spouse, financially dependent and unmarried children, and parents to be included on a single application.
No Physical Residency Required: Successful investors must maintain property and address but are not obliged to physically reside in Hungary.
Renewed residency: The initial residency permit is for 5 years and can be easily renewable for continued benefits.
No language, residency, or knowledge requirements
No Government Donations: Real estate investment is the sole option, with no government donations or contributions required.
European Tax Haven: Hungary offers a hidden gem within the EU, boasting a corporate tax rate of 9% and an income tax rate of 15%.
Advice
When considering participation in the Hungarian Residency by Investment Program, it is crucial to note several key factors for a smooth and successful experience. Opting for the full cash option is mandatory, as mortgages are not a viable choice in this context. Additionally, it's essential to be mindful that the acquired property cannot be utilized for rental income purposes. Furthermore, sustaining ownership and maintaining a valid physical address are indispensable prerequisites to ensure the continuity of your residency. Taking heed of these considerations will undoubtedly pave the way for a seamless and prosperous journey through the program.
In conclusion, Hungary's Residency by Investment Program presents a unique gateway to European living, blending cultural richness with economic opportunities.
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