60 UGLOBAL IMMIGRATION MAGAZINE
HOW TO APPLY FOR THE HUNGARIAN GUEST INVESTOR VISA
BY CSABA MAGYAR
While the country ’ s Guest Investor Visa program is legally in force since July 2024 , some circumstances make it difficult for investors to proceed .
Upon the announcement of the Hungarian Guest Investor Visa program in July 2024 , investors from third-country nations are waiting for the opportunity to apply for a 20-year residence permit in Hungary .
While the program is legally in force , some circumstances make it difficult for investors to proceed . Here is the current state and challenges of this visa program in Hungary , a country part of the European Union .
WHAT IS HUNGARY ’ S GUEST INVESTOR VISA ?
Hungary ’ s so-called “ Golden Visa ” program offers golden opportunities . It allows third-country nationals and their family members to enter the Schengen Area without restriction , create business investment opportunities , and enable them to live , study , and work in the European Union ( EU ) while engaging in any social activity .
Applying for the Hungarian Guest Investor Visa ( GIV ) has two major steps :
1 . Applying at the Hungarian Consulate of the applicant ' s habitual residence country .
2 . Apply for the Guest Investor Residence Permit in Hungary upon getting the visa .
To obtain the Guest Investor Visa , besides the usual requirements , the applicant must show a “ National Economic Interest .” This unique requirement lays down the purpose of the residence by investment programs . For decades , countries have tried to pull in wealthy individuals and success by enticing high-net-worth individuals ( HNWI ) to move in by granting them permanent residency or something equivalent . To make this happen , these