Emigration to Hungary through investment: what you need to know.

Emigration to Hungary through investment: what you need to know.

Emigration to Hungary through investment: what you need to know.
The changes to the Hungarian State Investment Program came into effect.
On July 1, 2016, amendments to the Hungarian State Investment Program came into effect. In “Immigrant Invest” they told what benefits potential investors can get in this regard.
The Hungarian immigration program for investors was launched in 2013. Its main advantages are short terms of processing of documents, absence of necessity of obligatory residence in the country, mandatory return of investment funds in 5 years and the possibility to travel to Schengen countries without visas. Confirmation of the investor’s source of income when entering the country is not required.
The Hungarian government not only launched the program, but also controls the implementation of all formal procedures, somehow related to its work. So, an investor can purchase government bonds only through the intermediation of accredited companies. This guarantees the absence of bureaucratic delays and makes the mechanism for obtaining permanent residence transparent.
What changed?
Since July 1, 2016, the terms of the state program of investment immigration to Hungary have become even more loyal. Now permanent residence in the country can receive the spouse of the investor, as well as his parents, minor children and grandchildren. Their rights will be the same as those of the main applicant. This means, among other things, that the parents of investors will have the opportunity to apply for medical insurance in the EU. But here there is a restriction: Hungarian insurance companies do not work with persons from the age of 65 years. For this reason, permanent residence for parents should be completed in advance.
One of the advantages of the program in its current iteration is the minimum number of necessary documents. The list includes a certificate of absence of previous convictions, marriage and birth certificates, photos and the statements themselves. Adult children and parents will have to provide copies of foreign passports. Collection and preparation of documents are carried out within 2-3 days. The term of their submission is 1 day.
It is no longer necessary to issue a residence permit.
Now also there is no need to issue a residence permit: the investor receives permanent residence in Hungary, bypassing this procedure. In addition, if earlier the procedure for obtaining permanent residence could stretch for 9-16 months, but now it will take a maximum of 2 months. The current formal limit of consideration of the application is 30 days.
The mandatory registration address is not included in the list of requirements for the investor. It is necessary only to obtain a European permanent residence and citizenship. This procedure can take up to 5 years, and the acquisition of Hungarian citizenship – up to 8 years. The Hungarian parliament is discussing the possibility of investors obtaining Hungarian citizenship on an expedited procedure.
A little bit about investments.
To participate in the immigration program of Hungary, it is necessary to invest 300 thousand euros in government bonds. The funds are guaranteed to be returned after 5 years from the date of application. More precisely, the investor will receive his money on December 31 of the fifth calendar year. A package of necessary documents should be prepared in advance.
In addition to this, the investor will have to pay a one-time fee of 60 thousand euros. This amount includes obtaining a permanent residence in Hungary for a spouse and children under 18 years of age. Parents, children over 18 years of age and the grandsons of the applicant must additionally pay an administrative fee of 30 thousand euros.
An investor does not have to become a tax resident in Hungary, but he can do it at any time if there is such a need.
More information about the program can be obtained from representatives of the company “Immigrant Invest”. The organization assisted 200 families in obtaining a permanent residence in Hungary through investments. “Immigrant Invest” is the official representative of Hungary’s state investment program, which accompanies investors until the return of investments.


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