Residence permit in Europe. Hungarian residence permit type “Other purposes”

Hungarian residence permit

At the moment, there is no official program in Hungary, thanks to which investors can obtain a residence permit in Hungary for the purchase of real estate. However, owning real estate in Hungary may be the basis for obtaining a residence permit. Practically this option is subject to the conditions for applying a residence permit type “Other Purposes”. So, the property may already be owned by the applicant, or it may be acquired specifically for applying for a Hungarian residence permit. First of all, the living area of the apartment must correspond to the number of family members in the application. This program is valid for the applicant’s spouse and his children under the age of 18. Please note that in order to obtain a residence permit, everyone, including children, will need to visit the country.

The Hungarian residence permit, “Other Purposes” type, is not an insert in the passport, but a resident card

You will be able to move around the Schengen countries without a visa. And also become a full-fledged client of the EU banking system. But mind that as this residency card is not of the Golden Visa type you will have to stay at least 90 days each half a year in Hungary (or Schengen zone) to be able to request prolongation after your residency will expire.

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An example of an apartment in the center of Budapest from the Apex Capital Partners catalog

Real estate for applying Hungarian residence permit

As a first step, registration of a residence permit begins with a purchase and sale transaction. This stage of registration takes approximately 45 days. So, if the applicant purchased real estate in Hungary, this is a connection with the country and at the same time an address of residence. Moreover, it will be necessary to obtain special permission from the authorities that this property can be used as a basis for applying for a residence permit in Hungary. So, first a certificate of ownership is issued, and then APEX lawyers prepare documents for a residence permit. 

– Is there a minimum amount of the value of residential real estate for obtaining a Hungarian residence permit?

– There is no fixed property value limit for obtaining a residence permit. But you cannot imagine a one-room apartment with an area of ​​22 square meters as a basis for obtaining a residence permit for a family of 4 people. 

– Is it obligatory to buy a property or can I sign a contract for a long-term lease?

– It is also possible to rent an apartment rather than buy it. In this case, the lease agreement must be at least 3 years. Since this is exactly the period for which you can apply at the first stage.

– Is it possible to make an investment in commercial real estate and present it as a basis for obtaining a Hungarian residence permit of the “Other Purposes” type?

– No, it is impossible. You must show a permanent address for living.

In addition to buying real estate, you will need to show the availability of funds for living in Hungary. For example, proof of regular income (monthly bank statement), savings (balance statement), etc. 

– Who might be interested in Hungarian Residency Permit?

–For those who want to temporarily or permanently reside in the EU and have access to the European banking system. There are no restrictions on accepting applications, but you will need to show the availability of funds and income outside of Hungary in the country from which the transfer of funds to Hungary can be made. 

Please note that mandatory government fees will be added to real estate costs. As well as legal support services. Get a complete calculation of the Hungarian residence permit upon request at APEX.

For investors we offer a wide range of Citizenship by Investment Programs to choose from. Please, contact Apex Capital Partners to get more information and ask personal questions. You can get free consultation from Apex Capital Partners on the program of Citizenship of Turkey, Portugal’s Golden Visa. As well as Cyprus, Caribbean (Citizenship of St. Kitts and Nevis, Dominica, Grenada, Saint Lucia, Antigua). Ask your question –

If you are a private banking specialist, a family lawyer, or work as a financial consultant in Middle East, Africa, China or any other region of the world, do not hesitate to contact Apex Capital Partners and become a partner, a part of our strong professional network. APEX has all the main local agent licenses to work with Citizenship by Investment Programs, including all key Caribbean CIPs. Please contact – Armand Tannous,

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Caribbean citizenship by investment is allowed in Antigua & Barbuda, Anguilla, Dominica, Grenada, Saint Lucia, and St. Kitts & Nevis. Acquiring a second passport in Caribbean countries has many benefits.

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The experience of Apex Capital Partners with the real estate market allows us to find reliable developers around the world whose projects allow you to obtain citizenship for real estate.

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