Permanent residency renewals from previous golden visa program

Before the current Golden Visa Program was introduced, Hungary had a Residency Bond program for investors. It also offered permanent residency, and participants are now up for their second residency renewal.

Investment residency then and now

The current golden visa program, officially called guest investor residency, offers Hungarian permanent residency to investors and their closest family members (spouse and underage children) for 10 years in exchange for a EUR 250,000 investment in government appointed real estate funds. This is not the first time Hungary had an investment residency program, however: the Residency Bond program was active between 2013 and 2017, and it also offered permanent residency in exchange for a 5-year investment of EUR 250,000, and later EUR 300,000. That permanent residence permit was available only for 5 years, so now we are in the middle of renewing the residence permits of bond clients.

Long-term support with Helpers

The Helpers Team was already providing comprehensive support to investors in the Hungarian Residency program, and we were also here during the first residency renewal period. We are still here to support second renewals while we are also processing new applications in the current golden visa program. Renewals and new applications, while have different requirements, receive the same attention from our experts.

Old and new permanent residency in Hungary

Permanent residency has changed a bit over the last few years. Most importantly, now it requires a cultural exam to show that applicants are at least somewhat familiar with the history and traditions of Hungary. This exam, however, is not relevant to participants of any of the investment residency programs. Whether you are now renewing your bond residency or applying for the guest investor residence permit, feel free to ignore the exam requirement.

Additionally, the National Residence Card, which is the current version of the Hungarian permanent residence permit, is available not for just 5, but already for 10 years. Bond residency holders can take advantage of the extended validity, same as investors participating in the current program.

Neither investment residency program had a minimum stay requirement. You do not even need a local address; you will be able to renew your permanent residency regardless. At the same time, if you do have a Hungarian address and a plastic address card, you might consider if you want to apply for Hungarian citizenship (which becomes available after 8 years of continued residency, although it also requires thorough knowledge of Hungarian history and law). At the same time, your investor residence permit already allows you visa-free access to the Schengen zone, so you may enjoy up to 90 days of stay in any member state without worrying about returning to Hungary on time.

About Helpers Hungary

The Helpers Team provides administrative support to international clients in Hungary. Our focus is on business setup, investment, and residency application, as well as accounting and advisory. This naturally involves renewals once residence permits expire.

If you want to take advantage of Hungarian residency as an investor, feel free to contact us, and we will help you achieve your goals in Hungary.