Our team specializes in guiding individuals and families through the complex journey of moving to Hungary and acquiring a residence permit. We offer tailored support at every stage, skillfully managing the application procedure.
Advantages of Residence Permit in Hungary
Affordable Cost of Living
Hungary is known for its cost-effective living. For instance, average monthly expenses for a single person are estimated around €600-€800, while a family of four can live comfortably on about €1,400-€2,000 per month, excluding rent.
Path to Citizenship
After 8 years of continuous residency, you can apply for Hungarian citizenship. Hungary also allows dual citizenship, enabling you to retain your original nationality.
Access to the Schengen Area
A Hungarian residence permit grants you visa-free travel within the 26 countries of the Schengen Area, offering extensive travel opportunities across Europe.
Hungary's corporate tax rate, at 9%, is one of the lowest in the EU. It also offers incentives for foreign direct investments, particularly in manufacturing, technology, and services sectors.
The Hungarian residence permit program allows for the inclusion of immediate family members in the application, facilitating family unity.
About the Residence Permit by Purchasing Real Estate in Hungary
Obtaining a residence permit in Hungary is possible for individuals who purchase property in Budapest. A minimum investment of €155,000 in a completed and habitable property qualifies an applicant for this permit. The property must provide a minimum living space of 6 square meters per family member.
Family members of the primary applicant are also eligible for residence permits, which vary in duration:
The main applicant and their unmarried, financially dependent children over 18 years old can receive a 5-year residence permit.
The spouse, parents, and children under 18 years of age are eligible for a 3-year residence permit.
These residence permits can be renewed indefinitely, offering long-term residency options in Hungary. This investment pathway not only facilitates living in the heart of Europe but also provides an opportunity for families to reside together in Hungary, fostering familial unity and offering a stable European base.
Requirements for Residence Permit Applicants
For eligibility, applicants are required to demonstrate the following:
They must be at least 18 years old.
A clean background, with no criminal records, sanctions, previous residency rejections, or history of deportation from Hungary.
Possession of valid health insurance coverage.
Furthermore, family members who may also qualify include:
The applicant's spouse.
Children under the age of 18.
Adult children, regardless of age, who are financially dependent on the applicant, unmarried, and not employed.
Parents of any age who rely financially on the main applicant.
This comprehensive eligibility criteria ensure that applicants and their families can safely and legally reside in Hungary, provided they meet these essential requirements. The inclusion of financially dependent parents and adult children extends the opportunity for family reunification, making it a viable option for a wide range of applicants seeking residency in Hungary.
The applicant is required to purchase a property and cover associated costs. To demonstrate financial stability, they must show a bank account balance of at least €27,000, with an additional €16,000 required for each dependent family member.
Property Purchase: A minimum of €155,000 investment in Budapest, ensuring a living space of at least 6 square meters per family member.
Administration Fee: €30,000.
State Fees: These can amount to up to €500.
Professional Services: Expenses for realtors, lawyers, and notaries may reach up to 5% of the property's value.
Transfer Tax: This ranges between 2% and 4% of the property value.
Bank Account Balance: The main applicant must maintain €27,000, with an additional €16,000 for each dependent.
Residency Application Fee: €110 per applicant.
Consular Certification Fee: €30 per applicant.
Timeframe for Processing
Hungary boasts one of the quickest application processes for residency. Typically, the process takes between 1 to 2 months following the submission of a fully completed application. This expedited timeframe is one of the many advantages of applying for residency in Hungary.
Step-by-Step Procedure for Obtaining a Hungary Residence Permit by Purchasing Real Estate
Preliminary Check Process: Our Compliance Anti Money Laundering Officer conducts an initial check of the applicant's background using international databases. Should any issues arise, our legal team is prepared to provide solutions, such as including additional documents in the application or considering alternative programs. This preliminary check is completely confidential, with only our legal team having access to the results. Our thorough Due Diligence process significantly boosts the likelihood of obtaining a residence permit, with a success rate of up to 99%.
Service Agreement Execution: Clients are supported at every step of their property purchase by our skilled real estate experts and legal professionals. The service agreement details all the services provided.
Document Preparation: Our lawyers compile a personalized list of required documents, complete government forms, and handle document translation and notarization.
Application Submission and Approval: Applications are submitted to the Hungarian Consulate and Immigration Office, typically processed within 21 days. Upon approval, the applicant receives a D visa for entry into Hungary and subsequent receipt of their residence permit.
Residence Permit Card Issuance in Hungary: Once in Hungary, applicants visit the Immigration Office for biometric data collection and photograph submission for their residence permit cards. These cards are then mailed within 2 to 3 weeks.
Real Estate Acquisition: Within 90 days of gaining residency, the applicant must purchase residential property. Our real estate experts assist in selecting appropriate property in advance, ensuring the seller's credibility and a clear property title. Concurrently, our lawyers secure real estate purchase permission from the Budapest Municipality. The applicant reserves the chosen property with a 10% deposit and completes the main sale and purchase agreement with municipal approval. After paying the remaining property value and applicable taxes, the buyer obtains a property ownership certificate from the Land Register within two weeks. This certificate, along with the purchase agreement, is submitted to the Immigration Office as proof of meeting residency requirements.
Residence Permit Extension: The residence permit is valid for either 3 or 5 years. For extension, applicants must apply online via the Enter Hungary website no later than 30 days before the expiration of their residence permit card. They must demonstrate continued ownership of suitable property, residence at the registered address, financial solvency, and a minimum of 183 days spent in Hungary annually.
Dual Citizenship in Hungary
Hungary allows for dual citizenship, which means individuals can hold Hungarian citizenship alongside another nationality. This policy is particularly relevant for those who have obtained Hungarian citizenship through naturalization, descent, or other legal means.
Frequently Asked Questions
Is it Mandatory to Live in Hungary Once I Obtain a Residence Permit Through Real Estate Investment?
No, you are not required to live full-time in Hungary. However, maintaining your investment and fulfilling the minimal requirements set by Hungarian immigration law is essential to keep your residency status active.