Hungary Starts Golden Visa Program for Real Estate Investors
- Previous residency program was shut down after graft concerns
- New iteration is part of bill that seeks to limit immigration
Hungary will offer a residency permit for those who purchase expensive property in the EU nation.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
Hungary will offer a residency permit for those who purchase expensive property in the European Union nation, six years after corruption allegations led authorities to shut a similar golden-visa program.
The “guest-investor program” allows those who invest at least €250,000 ($271,000) in local property funds or €500,000 in Hungarian real estate the right to apply for a 10-year, renewable residency permit in Hungary, according to legislation filed by Prime Minister Viktor Orban’s government.