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While the main objective of the new Hungarian investment residency program is not to provide work permit in Hungary, holders of the so called guest investor residence permit will be able to work in Hungary without limitations.
Investment residency in Hungary
Hungary has just launched their new investment residency program, officially called the “guest investor program”, informally referred to as the “Hungarian Golden Visa Program”.
Investors have 3 investment options to choose from, and in exchange they can obtain Hungarian residency for themselves and their family members (meaning spouse and underage children). The residence permit will be valid for 10 years, with an option for extending it for another 10 years upon expiry.
Working as an investor in Hungary
Third-country nationals usually need a work permit if they want to enter employment in Hungary. The work permit is tied to the employer, so if you want to start another job, you will need to apply for a new work permit.
Investors who obtain Hungarian residency through the guest investor program might not necessarily want to work in Hungary. However, if they do, they will not need to apply for a separate work permit, and they will be able to switch jobs as often as they want. This is true for the main applicant, their spouse, and their children too (in Hungary, minors are allowed to work starting from the age of 16 – although most of them are still studying and work only through student organizations).
As the holder of the Hungarian guest investor residence permit, not only will you be able to travel visa-free in the Schengen zone, but you will also have the option to start a job or set up a business without changing your residence permit – which is normally a requirement in these cases.
How to become a guest investor in Hungary?
You can apply for the guest investor residence permit if you realize a significant investment in Hungary. It cannot be just any investment, but you will have to choose one of 3 options:
- EUR 250,000 investment in a real estate fund
- EUR 500,000 investment in residential real estate
- EUR 1 million donation to a designated institution of higher education
Once you have decided which option to go with, you just have to complete 3 simple steps:
- Apply for a guest investor visa with a declaration of your intentions and a proof of funds
- Travel to Hungary and make the investment
- Apply for the guest investor residence permit for the entire family
Your new guest investor residence permit will let you travel without a visa in the Schengen zone, and start a job or set up a company in Hungary without any additional administration. At the same time, there is no minimum stay requirement, so you can come and go as you please.
Got you interested? Learn more now.
Helpers is Hungary’s leading provider of business, immigration, and investment services. While we offer work permit assistance to companies that want to bring talent to Hungary, our team has unrivalled experience in handling all types of residency applications, including the guest investor residence permit. We would be happy to help you too.
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