October 1, 2017
Since the Hungarian residency bond program was cancelled in April 2017, there was no fast-track way to Hungarian residency. Now you can again choose a simple procedure in the Hungarian Real Estate Residency Program.
Residency through real estate
Purchasing real estate in itself does not make you eligible for Hungarian residency. However, running an operational company and getting steady revenue from it does. As a result, if you purchase property in Hungary AND set up a company for property management (that is, collecting revenue from renting the property), you can already submit your application.
Company set-up and property investment
Registering a company in Hungary takes only 2-3 business days, and can be done through a power of attorney. This way you have to travel to Hungary only once, to open your company bank account. While you are here, you can take a look at our portfolio of Budapest apartments that promise the best ROI, and get all the paperwork done that enables you to make the purchase.
For a feasible business, investors are advised to purchase at least two Budapest apartments, with a value of ca. EUR 100,000 each. This is a perfectly safe investment, as you (your company) will be the sole owner of the properties. As a result, you can sell them again anytime you decide you do not need the Hungarian residency anymore.
Residency and Schengen visa for the whole family
Hungarian residents may also apply for residency for their family members (spouse and underage children). As a result, your entire family can become residents of Hungary. And with your Hungarian resident permits, you will be able to travel to any of the Schengen countries without an additional visa.
You will be required to renew these visas every few years, but that you can do without any fuss as long as you maintain your Hungarian real estate investment and your Hungarian property management company.