The Hungarian government has presented the framework for a new “golden visa” program in parliament as part of a proposed bill regulating immigration from third countries to Hungary. The bill introduces the “guest-investor visa” category for individuals affiliated with projects labeled as “strategically important investments” by the government.
Under the draft, obtaining the “guest-investor visa” becomes a prerequisite for applying for a residence permit, allowing the visa-holder a 10-year stay in Hungary, extendable by an additional 10 years.
This initiative follows the discontinuation of a previous “golden visa scheme” in 2017, prompted by concerns after a Syrian individual, under U.S. sanctions, obtained residency status in Hungary. The earlier program, initiated in 2013, required foreigners to purchase Hungarian bonds up to 300,000 euros for permit eligibility.
According to the new proposal, the “strategically important project” label can be acquired through an investor buying a Hungarian real-estate fund share worth 250,000 euros or real estate valued at a minimum of 500,000 euros in Hungary. Additionally, a 1 million euro donation to public interest asset management foundations, facing EU scrutiny for conflicts of interest with the government, could grant investors the “strategic importance” label, paving the way for the coveted “guest-investor” status.
Hungary has experienced an uptick in eastern investors, with Asian battery manufacturers like CATL and Eve-Power planning to establish factories near German carmakers in recent years.
