Obtaining a residence permit in Hungary through the purchase of real estate
The purchase of a house or apartment in an Eastern European country is the only available way to obtain residency status for investment. To obtain a residence permit, a foreigner must meet all the requirements of the state authorities and select an object that meets the conditions of the program.
If you want to navigate how to get a Hungarian residence permit for buying real estate, contact Intelligent Solution Group. Migration specialists will tell you all the nuances of the procedure and help you to obtain a residence permit with 100% guarantee.
What does owning a residential property in Hungary give you?
Foreign citizens choose the country for living and doing business because of:
- cheap by the standards of Europe real estate and minimal bureaucracy in the registration of transactions;
- not too high tax rates. Corporate tax at a tax base of less than 1.8 million euros is 10%, above this amount - 19%, VAT - 27% (general rate), 18% (production of flour and dairy products), 12% food production, pharmaceutical industry, medicine, hotel and transportation services) and 5% (publishing);
- opportunities to open accounts in European banks;
- excellent conditions for recreation and travel in Schengen countries.
It is possible to obtain a residence permit in Hungary for investment in 2023 only by purchasing real estate. Moreover, buying a home is a profitable way to invest. Since 2014, the value of square meters on the Hungarian market has been steadily increasing. According to Magyar Nemzeti Bank, in the fourth quarter of 2022, housing prices in Budapest, provincial cities and villages fell by 1.1%, 2.9% and 6.6% respectively.
In Q1 2023, the number of contracts decreased by 43%. A similar trend can be observed across the EU. The current conditions are quite favorable for transactions. When the housing market revives, prices will go up again.
Conditions and requirements of the program
The opportunity to acquire a residence permit in Hungary for the purchase of real estate have foreign citizens:
- who have reached the age of 18 years;
- have not been prosecuted for violating the laws in their home country and abroad;
- with proven financial support: €27 thousand per applicant + €16 thousand for each family member. The latter includes spouse and other financially dependent persons (including children and parents).
The purchased object must meet the following criteria:
- secondary or primary, commissioning is mandatory;
- the cost - from €155 thousand, paid in full in one installment;
- not less than 6 square meters of space per 1 person (excluding non-residential premises - corridor, bathroom and toilet, etc.).
Individuals wishing to retain residence permit are not allowed to sell real estate.
How the procedure works
Obtaining a residence permit through Intelligent Solution Group consists of the following main steps.
- Analyzing the client's case, checking the client's reliability and grounds for obtaining a residence permit.
- Preparation of documents. We conduct consultations, fill out state forms and give them to the applicant for signature.
- Submission and approval of the application. The representative of the company in Hungary checks and translates into the national language the client's package of documents, submits them to the Migration Service Department for confirmation of the Hungarian residence permit. Consideration takes up to 30 days.
- Passing biometrics at the Migration Service Office in Budapest. To visit the country, you must have a biometric passport (for citizens of countries with visa-free entry) or a Schengen visa. An applicant for a residence permit should plan 2-3 days to stay in the country to submit documents and biometrics.
- Obtaining ID-cards. Documents are produced in about 10 days. Representatives of our company can pick them up on their own, by power of attorney.
- Purchase of a house, apartment, apartments - within 6 months after receiving residence permit.
- Submission of documents on the purchase of real estate to the immigration service, granting a residence permit to the owner of real estate for 5 years, persons staying on his maintenance – for 3 years.
Our specialists control the process at each stage.
Why you should turn to Intelligent Solution Group
In order to buy real estate to obtain a Hungarian residence permit without any problems, it is necessary to properly execute the documents, comply with the deadlines and requirements of the immigration service. If you do it on your own, there is a high risk of rejection and delaying the process.
With the support of specialists, you will be able to achieve the result in the shortest possible time, without delving into the intricacies of the process. After obtaining a residence permit, Intelligent Solution Group employees provide detailed advice on its retention and extension.
You can find out more details about cooperation by calling the number listed on the website or leaving a request for a callback.
What documents are needed at the initial stage?
The applicant should prepare:
- internal passport of the country of residence and a foreign passport, similar documents for all family members, birth certificates of children and marriage;
- bank account statement with balance and details of money movement for the last 6 months;
- health insurance;
- certificate of no criminal record.
Filling out applications, forms and resumes is done by Intelligent Solutions Group staff.
Is it mandatory to be present in person when submitting an application?
The procedure is started remotely from anywhere in the world. A visit to the country is required after the residence permit application has been approved for biometrics and photography.