Hungary's 'Golden Visa', kwon as 'Guest Investor Program': A Historical Overview and Current Status in 2025

By Citinavi team

Receiving this visa is a prerequisite to apply for a residence permit, which would allow the visa-holder to stay in Hungary for 10 years, extendable by a further 10 years, according to the draft. The new programme comes after a previous "golden visa scheme" was scrapped in 2017 after a Syrian man who was under U.S. sanctions received residency status in Hungary. The programme, launched in 2013, required foreigners to buy a Hungarian bond for up to 300,000 euros to obtain the permit.

According to the proposal, the "strategically important project" label could also be obtained by an investor buying a Hungarian real-estate fund share worth 250,000 euros or real estate worth at least 500,000 euros in Hungary.

Hungary's residency-by-investment initiative, commonly referred to as the 'Golden Visa' program, has undergone significant transformations since its inception. As of 2025, the program offers select pathways for foreign investors seeking residency in Hungary. This article provides a comprehensive overview of the program's evolution and its current offerings.

• 2013-2017

  In 2013, Hungary introduced the Hungarian Investment Immigration Program, allowing foreign investors to obtain permanent residency by purchasing special government bonds valued at €250,000. This initiative attracted over 8,000 applicants. However, concerns regarding financial losses and security issues led to its suspension in 2017. Notably, reports indicated that the program resulted in an approximate €192 million loss for the Hungarian budget, and instances emerged where individuals under international sanctions acquired residency through the scheme.

  
  
  
  

  

  
  

  Relaunch and Evolution

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    November 2023: Announcement of the Guest Investor Program

    In November 2023, the Hungarian government announced plans to relaunch the residency-by-investment program under the new title of the 'Guest Investor Program' (GIP). The revamped initiative aimed to attract foreign capital through diversified investment options, moving away from the previous bond purchase model.

  
  

• July 1, 2024: Implementation of New Investment Pathways

  The GIP officially commenced on July 1, 2024, introducing three primary investment avenues:

  - Real Estate Investment Fund: A minimum investment of €250,000 in a state-approved real estate investment fund, with a mandatory holding period of at least five years.

  - Residential Property Purchase: Acquisition of residential property in Hungary valued at a minimum of €500,000, also requiring a minimum holding period of five years. (Suspended in January 2025)

  - Charitable Donation: A non-refundable donation of €1 million to a higher education institution in Hungary, aimed at supporting educational, scientific research, or artistic activities.

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Current Status in 2025

As of March 2025, the GIP offers the following investment options:

1. Real Estate Investment Fund: Investors can invest €250,000 in a state-approved real estate investment fund, with a mandatory holding period of at least five years.

2. Charitable Donation: A non-refundable donation of €1 million to a Hungarian higher education institution, supporting educational, scientific, or artistic endeavors.

   
   

Program Benefits

Participants in the GIP are entitled to several advantages:

• Long-Term Residency: A 10-year residence permit, renewable for an additional 10 years, granting the right to live, work, and study in Hungary.

• Family Inclusion: Eligibility to include immediate family members, such as spouses and minor children, in the residency application.

• Schengen Area Access: Visa-free travel within the Schengen Zone for up to 90 days within any 180-day period.

  
  

Hungary's 'Golden Visa' program has evolved to balance attracting foreign investment with addressing previous concerns. As of 2025, while the direct residential real estate investment pathway has been discontinued, the program continues to offer viable options for investors through real estate funds and charitable contributions. Prospective applicants should stay informed about potential policy changes and consult with legal experts to navigate the application process effectively.