- July 7, 2017
- Posted by: CIP Journal
- Category: Citizenship, Residency
Hungary joined the schengen agreement in 2007 and maintains close relationship with other EU member states. The Residency bond program (€300,000), otherwise called ‘Hungarian citizenship by investment program’ offers expedited path to Hungarian citizenship through permanent residency. But the bond program is currently closed by Government.
The Entrepreneur investor program in Hungary offers a cheaper way to become a resident in Hungary with a minimum investment from EUR 15,000 onwards for entrepreneurs or self employed persons. It is necessary to invest this money in a new Hungarian company and create jobs. Investors qualify for temporary residence permit issued for 2 years including spouse and children.
Investors have a possibility to invest in Hungarian real estate market through a holding company with an investment of EUR 100,000 or more. Apartment prices in central Budapest start from EUR 70,000 (studio) and luxury real estate prices start from EUR 200,000. The per square prices hover around EUR 1300 to EUR 1700 per square metre.
EU blue card is issued to highly skilled professionals employed in Hungary with a valid employment contract.
It is possible to apply for settlement permit in Hungary after 3 years of living without being absent for 90 days each year. Other conditions include adequate financial support, paying taxes and healthcare.
Hungarian citizenship is possible after 8 years of living in Hungary in total. One of the basic legal requirements for Hungarian citizenship is to understand and communicate in Hungarian language on a sufficient level.