The Hungarian Government has removed the buying properties for Golden visa (guest investor) program, in an abrupt last minute move to protect the country from rising property rents and overvaluation of the property market. The Guest investor visa program for real estate investors was scheduled to start on Jan 1, 2025.
The amendments to the law was published in National Gazette No. 131. With these new changes, for those applying for Hungary guest investor visa, now only two options remain open to secure a 10+10 (20 year) golden visa.
- €250,000 Real Estate Investment Fund
- 1€ million Public donation (Education and Universities)
The Law of entry/exit of third country nationals also makes the following changes for Guest investors:
1. The application for a guest investor residence permit shall be submitted by the third-country national with a guest investor visa within 30 days of his or her first lawful entry into the territory of Hungary, to the competent immigration authority or via the electronic portal.
2. After submitting application for the issuance of a guest investor residence permit, the third-country national shall, during the validity period of the guest investor visa or within six months of his first lawful entry into the territory of Hungary must complete the investment on the basis his declaration, else the visa issued shall be revoked.
3. The issuance of a guest investor visa shall be refused if the third-country national does not meet any of the conditions of the act or has provided false information or untrue facts to the competent authority in order to obtain the visa or based on the available data and facts, third-country national has not made the investment or legal obstacle to making the investment undertaken
