How long does it take to get a Golden Visa for Hungary?

Visa vs. Residency Permit: Understanding the Difference

When considering a move to Hungary, it's essential to understand the difference between a visa and a residency permit. These two documents serve distinct purposes in your journey to living in Hungary.

A visa is an official document that grants you entry into a country for a specific purpose and period, such as entering Hungary to finalize your Golden Visa investment. The Guest Investor Visa allows you to enter Hungary legally and remain for up to 6 months while completing the required investment. However, a visa is temporary and does not grant the right to live in the country long-term.

A residency permit, on the other hand, is your ticket to long-term or even permanent residence in Hungary. After making your investment (with the help of your visa), you can apply for the Guest Investor Residency Permit, which allows you to live, work, and travel freely within Hungary and the Schengen Area. This permit is valid for 10 years and can be renewed, offering greater security and benefits than a visa.

So, think of it this way: a visa gets you in the door, but a residency permit lets you stay and enjoy all the benefits of living in Hungary.

How To Get The Golden Visa

Obtaining Hungary's Golden Visa involves a well-structured process designed to ensure you meet immigration regulations and smoothly transition to residency. Here's a breakdown of the key steps involved:

1. Initial Consultation and Eligibility Assessment

This crucial first step involves a detailed consultation with an immigration expert (like us) to discuss your goals and circumstances. They will conduct a thorough eligibility assessment to ensure you meet the criteria, such as being a non-EEA citizen and having sufficient funds for the investment.

2. Gathering Documentation

Once eligibility is confirmed, the next phase involves collecting all necessary documents. This stage involves gathering essential documents, such as:

• Proof of identity (passport)
• Proof of funds
• Documentation verifying the source of your investment funds
• Bank statements
• Tax documents
• Passport photo

A complete and accurate submission of documents will prevent delays later in the process.

3. Preparing the Investment 

Before applying for the visa, you'll need to choose your qualifying investment:

• purchasing real estate with a preliminary contract, 
• buying shares in an investment fund, or 
• making a donation to a Hungarian university. 

The type of investment you choose will depend on your financial preferences and long-term goals. Once your investment is selected, the necessary financial preparations will be made.

4. Submitting the Visa Application

With your investment chosen and documents gathered, you'll officially submit your visa application to the Hungarian immigration authorities (typically the nearest consulate). This application outlines the type of investment you plan to make within three months of receiving your visa, along with supporting documents like proof of funds.

5. Government Review and Approval

During this stage, the Hungarian government conducts a thorough review of your application, including a background check, security screening, and verification of your documents and investment plans. The processing time for this stage is generally 21 days but can vary.

6. Issuance of Visa

If your application is approved, you'll receive a Golden Visa valid for six months. This visa allows you to enter Hungary and finalize your investment within the country.

7. Investing in Hungary

You have three months to complete your chosen investment, whether it's purchasing real estate, investing in a fund, or making a donation. All transactions must be legally documented and comply with Hungarian regulations.

8. Applying for Residency Permit

Once your investment is finalized, you can apply for your residency permit within 93 days of arriving in Hungary. In addition to proof of investment, you'll need to provide:

• Proof of health insurance
• Proof of accommodation in Hungary
• Proof of investment
• Etc.

9. Granting the Permit

After a final review, the Hungarian immigration authorities will grant the Guest Investor Residency Permit, which is valid for 10 years. This permit allows you to live and work in Hungary with the possibility of renewing it for another 10 years. From this point forward, you and your family will enjoy the many benefits of Hungarian residency, including visa-free travel within the Schengen Zone and the freedom to live, work, and do business in Hungary.

Average Processing Times for Hungarian Golden Visa

Remember, there are two main phases in this process: obtaining the initial Guest Investor Visa and then applying for the Guest Investor Residency Permit.

Visa Process

The process for obtaining a Hungarian Golden Visa starts with submitting a Guest Investor Visa application. The immigration authority typically handles the application within a 21-day processing period, which begins the first working day after the submission. However, this timeline can be extended if additional information or documentation is requested, or in cases where external factors such as postal delays or technical issues arise. It is also important to note that public holidays or non-working days will affect the timing, with any deadlines extending to the next working day. After submission, an additional security check is conducted, which may take up to 15 working days. Therefore, you can expect the initial visa application process to take approximately 36 days in total.

Residency Process

Once the Guest Investor Visa has been issued and the required investment has been made, the next step is applying for a residency permit. You must submit your Guest Investor Residency Permit application within 93 days of arriving in Hungary. The immigration authority typically processes these applications within 21 working days. However, this period can be extended by an additional 24 days if more information or documentation is needed. On average, the residency application process can take around 1 to 1.5 months. 

In total, from start to finish, obtaining a Golden Visa and residency permit in Hungary can take about 3 to 4 months.

How to Speed Up the Process?

To expedite the process, consider these strategies:

• Prepare all required documents in advance: Ensure all necessary documents are complete, accurate, and readily available.
• Use a local legal expert: A Hungarian immigration lawyer can guide you through the application process, ensuring your submission is complete and compliant with local regulations.
• Monitor application status: Stay informed about your application's progress and respond promptly to any requests for information.
• Plan ahead for unforeseen delays: While the average processing time is relatively short, be prepared for potential delays due to public holidays, technical issues, or other unforeseen circumstances.

Common Delays in the Golden Visa Application Process

Although the standard processing time for immigration procedures in Hungary is typically 21 days, several factors can influence the timeline of your Golden Visa application:

• Incomplete or inaccurate documentation
• Expert opinions or evaluations
• Requests for further information
• Holidays or non-working days
• Technical disruptions or postal delays
• Security checks

Post-Approval Timeline and Next Steps

Here's what you need to know after your residency is approved:

1. Family Unification
A major benefit of the Hungarian Golden Visa is the opportunity to reunite with your family with a connecting residency status. Spouses, minor children, and even dependent parents of both the applicant and their spouse are eligible to apply for residency. The residency permits granted to family members are typically valid for the same 10-year period and are renewable for another 10 years, allowing your entire family to stay in Hungary long-term.

2. Retaining Your Investment
Your residency status is tied to your investment, which you must maintain for at least five years. Whether you've invested in real estate or an investment fund, this holding period is crucial for maintaining your residency.

3. Future Residency Renewal
Your initial residency permit is valid for 10 years and can be renewed for another 10 years if you continue to meet the program's requirements. After the five-year holding period, you have more flexibility with your investment. However, if you plan to renew your residency, any changes to your investment must still meet the program's requirements.

Conclusion

In conclusion, obtaining a Golden Visa for Hungary is a relatively fast and straightforward process compared to other European countries, with the entire timeline typically ranging from 3 to 4 months. By investing strategically, you can secure residency in Hungary, gaining access to the many benefits it offers—such as the freedom to live, work, and travel within the Schengen Zone. Whether you're looking to invest in real estate or other financial opportunities, Hungary’s flexible residency-by-investment program ensures that you and your family can enjoy a new chapter in one of Europe’s most dynamic countries.

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