Hungary To End Investor Visa Programme

The Hungarian government has announced the closure of its investor visa programme on 31st March 2017. Applicants wishing to invest in the programme and gain permanent residency in Hungary must submit their applications by this date.

The Hungarian programme was launched in 2012 and requires an investment of just €300,000 into government bonds. The scheme is one of the quickest life-long Permanent Residency programmes in Europe, and after all the correct paperwork is submitted, applications can be approved in just 30 days. Not only does the scheme allow investors the freedom of travel throughout the Schengen zone, there are also no minimum stay requirements. The government guarantees to return the investment in full after 5 years, making this programme extremely interesting.

The move by the Hungarian government to close the scheme is a reminder to potential applicants of any such programmes that these are often transitory and rules may be changed or programmes closed at short notice. The Hungarian closure follows news that the USA EB5 residency investment programme, also subject to amendment by the US Congress could see its qualifying limit raised from $500,000 to $1.3 million in April.

Any clients considering a residency or citizenship investment programme are advised to contact our consultants for up to date news and advice. Applications for the Hungarian programme must be submitted to our office by Monday 6th March in order to meet the processing deadline.

Key Points:

– Quickest permanent residency programme in Europe;
– Full return on investment after 5 years;
– Life-long permanent residency;
– Spouse, dependent children, dependent parents (no age restrictions) can all be included;
– No minimum stay requirements;
– No tax obligations for non-residents;
– Permitted to reside permanently in Hungary;
– Visa free travel to all countries in the schengen zone;
– Applications approved within 30 days;
– Set up a business in Hungary and take advantage of 9% corporation tax
– Total amount: €360,000 (€300,000 investment + €60,000 application and processing fee).