Indians now have a new opportunity to live their European dream as Hungary has launched its Golden Visa programme, officially introduced in July 2024. The scheme, known as the Guest Investor Residence Permit, allows non EU and non EEA citizens to secure long term residency in Hungary.
The Hungarian Golden Visa provides a 10 year residence permit, which can be renewed for another 10 years. Successful applicants and their families can live, work, study and conduct business in Hungary, while also enjoying visa free travel across the Schengen Zone.
For Indian professionals, business families and high net worth individuals, the programme offers several advantages. Permanent residency can be obtained within three years, and citizenship in eight years, subject to requirements. Unlike many countries, Hungary does not impose a minimum stay rule to maintain residency. The country also offers favourable taxation, with a flat personal income tax rate of 15 percent and a corporate tax rate of 9 percent.
Applicants must be 18 years or older, have no criminal record and demonstrate sufficient financial means to support themselves and their families in Hungary.
To qualify, investors can choose from three approved options. These include investing €250,000 in Hungarian real estate investment fund shares or making a €1 million donation to a Hungarian public trust that supports education, research or the arts.
The application process involves five steps. First, applicants must apply for a Guest Investor Visa at the Hungarian consulate in India, which allows them to travel to Hungary for up to six months. Within 93 days of entry, they must complete their chosen investment. Proof of investment must then be submitted to immigration authorities, after which they can apply for the Guest Investor Residence Permit. Once approved, the applicant receives a 10 year residence permit, renewable if the investment is maintained.
Key documents required include a valid passport, proof of funds, health insurance, bank statements, criminal record clearance, passport sized photographs, and if applicable, marriage and birth certificates.
While the investment amount is significant, Hungary’s Golden Visa offers a direct route to long term residency, visa free access to the Schengen Zone, low taxes and a pathway to citizenship, making it a valuable opportunity for Indians looking to relocate to Europe.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
