Six years after Hungary Golden Visa, It launches a “guest-investor visa program.”

The Hungarian government has submitted a draft bill governing immigration from third countries to Hungary, which includes the idea of a new "Hungary golden visa" scheme to parliament.

The bill, submitted on Tuesday, creates a new category of "guest-investor visa program" for visitors to Hungary who are connected to projects that have been awarded the government's "strategically important investment" designation.

According to the draft, obtaining this visa is a requirement in order to apply for a residence permit, which would grant the bearer of the visa a 10-year stay in Hungary that might be extended by an additional 10-year period.

The new program replaces an earlier "Hungary golden visa scheme" that was discontinued in 2017 following the acquisition of resident status in Hungary by a Syrian individual who was subject to US sanctions.

When the Program was launched in 2013, foreigners needed to pay up to 300,000 euros for a Hungarian bond in order to be granted permission.

The plan states that an investor may also get the designation of "strategically important project" by purchasing real estate in Hungary for at least 500,000 euros or a share in a Hungarian real-estate fund valued at 250,000 euros.

The public interest asset management foundations that have come under EU investigation for their conflicts of interest with the government would also be able to get the status of "Hungary guest-investor program" by virtue of the donation of one million euros. This would also confer on investors the designation of "strategic importance".

Eastern investors have been pouring money into Hungary in recent years as Asian battery manufacturers, like CATL and Eve-Power, want to establish factories close to German automakers.


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