Türkçe
Hungary's residence-by-investment route goes by two names depending on where you read about it. The government calls it the Guest Investor Residence Permit. Most international guides call it the Hungary Golden Visa. Both describe the same programme, relaunched in July 2024 after Hungary's earlier bond-based residency scheme closed in 2017.
As Ketenci & Ketenci, we advise clients on this programme alongside the other EU residency-by-investment routes we handle, including Portugal, Greece, and Malta, so a Hungary application is assessed against those alternatives rather than in isolation.
One point we raise with every prospective client early on: nationality-related restrictions here matter in practice. Hungarian migration officials have publicly stated that Russian nationals, including dual citizens, are not currently being accepted into the programme, and Belarusian nationals face similar treatment. This does not appear as an explicit blanket ban in the programme's official factsheet, but sanctions screening, fund-level KYC checks, and banking restrictions mean applications from these nationalities face a materially different, and often unsuccessful, path in practice.
How the Hungary Guest Investor Program Works
A non-EU, non-EEA national completes a qualifying fund investment or donation, obtains a Guest Investor Visa to enter Hungary, and converts that visa into a 10-year residence permit once the investment is finalised and biometrics are recorded. There is no requirement to speak Hungarian, hold a degree, or run a business, and no minimum stay obligation to keep the permit valid.
Hungarian, EU, and EEA nationals are not eligible, since they already hold free-movement rights in Hungary. The programme is intended specifically for third-country nationals.
The Law That Replaced the Old Bond Scheme
The programme is regulated under Act XC of 2023 on the General Rules for the Entry and Stay of Third-Country Nationals, with detailed procedural rules set out in Government Decree 450/2024 and subsequent implementing instruments issued through 2025 and 2026. The National Directorate-General for Aliens Policing (OIF) administers applications, and the residence permit application itself is filed through the Enter Hungary online platform following entry.
Two Routes Left, After a Third Was Scrapped
A third route, direct real estate purchase from €500,000, existed briefly after the programme's 2024 relaunch but was formally abolished on 15 January 2025. Two routes remain:
| Route | Minimum Investment | Details |
|---|---|---|
| A: Real Estate Investment Fund Most Popular | €250,000 | Units in a fund registered by the Hungarian National Bank. The fund manager must appear in the register of qualified market operators and hold the required AIFM authorisation and assets-under-management thresholds. At least 40% of the fund's net asset value must be Hungarian residential real estate. The shares must be deposited in a securities sub-account blocked for at least 5 years. |
| B: Higher Education Donation | €1,000,000 | A non-refundable donation to a public-interest trust foundation supporting a Hungarian higher education institution, directed toward education, scientific research, or artistic and creative activity. |
Practical Note: Real Estate Investment Fund
This is typically the route considered by applicants who prefer an investor-owned financial asset to a non-refundable donation. It is not a direct property purchase: the fund itself owns the underlying real estate, and the investor holds fund shares that must be deposited in a securities sub-account blocked for at least 5 years. The shares remain subject to normal market risk; their value at redemption may be higher or lower than the original subscription. Not every fund on the market qualifies, since the fund manager must be registered with the Hungarian National Bank, appear in the qualified market operators register, and meet specific AIFM authorisation and assets-under-management thresholds. We verify a fund's current status against the official qualified list before any subscription is made.
Practical Note: Higher Education Donation
The donation route suits clients who are not looking to recover the investment and prefer a fixed, one-time contribution over a five-year holding period. Because the funds are non-refundable, this route carries no exit strategy by design, which is the trade-off against its simplicity. We confirm that the receiving institution and trust foundation currently qualify before a donation is made.
Not Sure Which Route Fits Your Situation?
Our legal team will review your circumstances, confirm nationality eligibility, and recommend the most suitable route, at no obligation.
Get in Touch Call Us: +90 532 132 92 33From Visa Application to Residence Card
Our team manages the process end to end, coordinating with the fund manager or receiving institution and the Hungarian immigration authority on your behalf. The route differs slightly depending on whether your nationality requires a visa to enter Hungary:
- Initial eligibility review, including nationality and source-of-funds screening, before any commitment is made
- Selection of the qualifying fund or donation route
- Visa-required nationals apply for the Guest Investor Visa at a Hungarian consulate abroad before travelling; visa-exempt nationals may enter directly
- First legal entry into Hungary
- Residence permit application filed within Hungary, via the Enter Hungary platform or in person, within 30 days of first legal entry (visa-exempt) or during the visa's validity (visa-required)
- Proof of the completed investment submitted within the applicable deadline: generally the Guest Investor Visa's validity period, or 6 months from first entry for visa-exempt applicants from Annex II countries
- In-person biometric appointment, fingerprinting, and facial photograph, required even for applications filed electronically
- Decision and delivery of the 10-year Guest Investor Residence Permit by post
Application Timeline
The official administrative processing period for a complete application is 21 days, though this period specifically excludes the time between filing and submitting proof of the completed investment, so it understates the real end-to-end wait in most cases. The Guest Investor Visa itself is valid for up to six months. Taken together with fund or donation processing, document preparation, and the in-person biometric appointment, the full process typically runs 4 to 6 months from initial visa application to permit card in hand. Applicants must also demonstrate sufficient accommodation in Hungary and a valid passport; no single bank balance figure applies uniformly, since financial and accommodation evidence is assessed against each applicant's actual circumstances.
Extension works differently from initial issuance: it is filed only from within Hungary, at least 30 days before the current permit expires, and only while the permit remains valid. The fund route requires the investment still be held at the time of extension; the donation route requires no further investment once the original donation was made.
What the Permit Actually Gives You
- 10-year residence permit, renewable once for a further 10 years, subject to the investment and statutory conditions being maintained
- No general minimum-stay requirement to obtain or maintain the permit itself
- Unrestricted right to work or run a business in Hungary; work in other EU states still requires the usual local authorisation
- Visa-free travel within the 29-country Schengen Area for up to 90 days in any 180-day period
- No language, education, or business background required for the residence permit itself
- Family inclusion for a spouse, minor children, and, subject to dependency conditions, adult children and parents
- A comparatively fast process against other EU residency-by-investment programmes
Who Qualifies, and Where the Line Gets Drawn
Applicants must be third-country nationals (non-EU, non-EEA), free of Schengen Information System alerts or entry bans, and able to pass a national security background check.
- Main applicant, third-country national
- Spouse
- Children under 18
- Unmarried children over 18 who remain financially dependent on the applicant or spouse
- Parents, where dependency conditions are satisfied
Hungarian migration officials have stated publicly that Russian nationals, including those with a second citizenship, are not currently being accepted, and Belarusian nationals face comparable treatment, though this is not spelled out as an explicit blanket ban in the programme's official factsheet. In practice, sanctions screening, fund-level KYC checks, and banking restrictions make applications from these nationalities, and from other sanctioned or security-flagged jurisdictions, subject to enhanced scrutiny and a materially higher risk of refusal. We confirm current nationality and security screening practice with the relevant fund manager or institution and the immigration authority before any client commits funds.
Does Holding the Permit Make You a Hungarian Taxpayer?
Holding the Guest Investor Residence Permit does not, by itself, make an investor a Hungarian tax resident. Tax residency generally follows physical presence and centre of vital interests, broadly consistent with the approach used elsewhere in the EU. Investors who do not relocate to Hungary should not expect the permit alone to create a Hungarian tax liability, though this should be confirmed against your personal circumstances and any relevant tax treaty.
Permanent Residency and the Path to Citizenship
A National Residence Card generally requires at least 3 years of actual, lawful, and uninterrupted residence in Hungary, together with the applicant's continued long-term residence being in Hungary's interest and other statutory criteria. Simply holding the Guest Investor Residence Permit for three years without actually living in Hungary will not ordinarily satisfy this requirement, since the no-minimum-stay feature of the Golden Visa itself and the physical presence requirement for permanent residence are two different things. National Residence Card and EU Residence Card applications are also generally subject to a Hungarian cultural knowledge examination introduced from 1 January 2025, subject to statutory exemptions.
General naturalisation may become available after a period of lawful and continuous residence, commonly cited as 8 years, subject to actual residence, a clean record, livelihood and accommodation conditions, a Hungarian language requirement, and an assessment of constitutional and civic knowledge, all evaluated under the rules in force at the time of application. The Guest Investor Program does not grant citizenship directly, and dual citizenship is permitted under Hungarian law.
Hungary Against the Other EU Options
Hungary combines a comparatively accessible entry threshold with genuine EU and Schengen access and a lower cost of living than many Western European alternatives.
No Relocation Pressure
No minimum stay requirement means the permit does not force a change in where an investor and family actually live day to day.
Investment Rather Than Donation
The fund route keeps the money as an investor-owned financial asset rather than a non-refundable contribution, though its value is not guaranteed.
Central European Base
Budapest sits within easy reach of Vienna, Prague, and other EU capitals, useful for investors splitting time across the region.
Family Coverage
Spouse, minor children, and, subject to dependency conditions, adult children and parents can be included.
Faster Than Many Alternatives
A 4 to 6 month typical timeline compares favourably with several other EU residency-by-investment programmes.
Long Permit Duration
10 years, renewable once for a further 10, is longer than the initial permit period offered by several comparable EU programmes.
Ready to Begin Your Hungary Golden Visa Application?
Speak with our legal team today. We confirm eligibility, including nationality restrictions, before you commit any funds.
Start Your Application [email protected]Why We Handle This Alongside Portugal, Greece, and Malta
With over 40 years of senior legal experience, Ketenci & Ketenci advises investors across the EU residency-by-investment landscape, not on Hungary alone, which is why we can tell clients honestly when a different programme fits their circumstances better.
- Nationality screening upfront: we confirm practical eligibility, including the current treatment of Russian and Belarusian nationals, before any funds move
- Fund and institution verification: we check a fund's current regulatory status or an institution's donation eligibility before a client commits
- Cross-programme perspective: we advise on Portugal, Greece, Malta, and Hungary together, so a client can compare routes rather than seeing Hungary in isolation
- Multilingual support: assistance available in English, Turkish, Arabic, and Mandarin
- Transparent fee structure: full cost breakdown, including fund, government, and processing fees, provided upfront
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This page is provided for general informational purposes only and does not constitute legal advice. Investment thresholds, nationality restrictions, and procedural requirements are subject to change by the Hungarian authorities. For advice specific to your circumstances, please contact our legal team directly.