Hungary - The residence permit through the purchase of real estate

RESIDENCE PERMIT IN HUNGARY BY PURCHASING OF REAL ESTATE


Hungary is a country with a huge number of thermal springs,  mild climate, rich history, no wonder it is called "hot key of Europe".
 


ADVANTAGES AND FEATURES OF THE PROGRAM OF OBTAINING A RESIDENCE PERMIT IN HUNGARY:

 

  • opportunity to get a residence permit until purchase of real estate;
  • no need to pay monthly charges;
  • is it possible to include dependent parents over 65 years old.
  • the opportunity to live in Europe all year round;
  • the opportunity to apply for national permanent residence after 3 years.

 
OPTIONS FOR OBTAINING A RESIDENCE PERMIT IN HUNGARY:

  • It is necessary to purchase property in the amount of 86 thousand euros within 3 months after receiving a residence permit 

 
THE COST OF THE RESIDENCE PERMIT IN HUNGARY:

 

  • The registration of residence permit for the main applicant  5 000 euros.
  • The registration of residence permit for each additional family member - 1 000 euros.


THE TERMS FOR OBTAINING A RESIDENCE PERMIT IN HUNGARY:

 

  • Registration of a European residence permit - 1 month

 
DOCUMENTS REQUIRED FOR OBTAINING A RESIDENCE PERMIT IN HUNGARY:

 

  • a copy of the external passport (all pages);
  • copy of passport (all pages);
  • certificate of income;
  • Bank statement for the last 3 months;
  • medical insurance 

 
 
Among the countries of the European Union Hungary is the most affordable and quickest option for those who are planning to obtain a residence permit in Europe. The presence of this status provides a number of advantages, including free travel throughout the Schengen zone. However, visa-free entry into European countries is not the only positive side of a residence permit in Hungary: in addition, this status includes the provision of a number of other privileges.


THE PROS AND CONS OF OBTAINING A RESIDENCE PERMIT IN HUNGARY:


 
The program of obtaining a residence permit of any state have both advantages and disadvantages: the choice of the country and the specific method of acquisition of this status, usually determined by the needs of the person (for example, the need to live in country of the EU or opportunity to conduct business on favorable terms) and the available financial resources. Hungary is one of the few countries (along with affordability and high-speed processing of a residence permit) can offer many advantages for owners of this status.


 
Among the main advantages of the Hungarian residence permit:


 

  • Visa-free travel to Schengen countries. The registration of residence permit provides a unique opportunity – unrestricted admission of all countries to travel which in the absence of a residence permit need a Schengen visa is available to owner of the status. Thus, the holder of a residence permit can travel and make business trips at any time without a visa.
  • The use of banks. Absolute advantage is the access to the use of European banks (performance of monetary transactions, storage of funds).
  • The possibility of inclusion the parents over the age of 65 years in the application. The program of obtaining a residence permit provides for the inclusion dependent parents older than 65 years in the application. Due to this, the applicant's parents can register insurance and use the services of medical institutions.
  • Conduction of business in the EU. The status of residence permit provides the right to do business in the countries of the European Union.
  • The opportunity to become a full citizen of the country in the future. Registration of the status of residence permit involves making permanent residence upon the expiry of three years and citizenship after five years. Thus, you can become a citizen of Hungary for eight years. Hungarian citizen acquires all the rights of a citizen of a country member of the European Union.
  • Tax benefits. The holder of the status release from the obligation of paying monthly taxes.
  • The availability of safe alternative accommodation. The status of residence permit provides the possibility of changing one's residence in case the need arises.
  • The important fact is that the residence permit gives an opportunity to stay in the country with a high standard of living. The definite advantages of Hungary as a place of residence are a mild climate, stable political situation, low crime, excellent conditions for doing business and a quality education. It is necessary to note that there are the many thermal spas and mineral springs in the country combined with development medicine. Hungary is a great option for those who are accustomed to take care of your health. In addition, the good geographical position of Hungary (in combination with visa-free entry to a Schengen country) to travel around Europe.

Obtaining residence permit by purchasing of real estate. In addition to all these benefits, Hungary is a cost-effective investment option. The added advantage is no annual tax payments on residential property (except for objects that are in the major tourist centers of Hungary – Balaton and Heviz).
 
It should be noted that the acquisition of real estate in this country has its specificity. Thus, the execution of all transactions involves the mandatory participation of lawyers who, in addition to documentary support, carry out an audit of the selected object. This ensures maximum transparency of the transaction.
 
The validity of the residence permit is one year. After this period, the filing of an application for renewal provides (residence permit is extended for two years). Then it is possible to submit documents for obtaining permanent residence.
 
The disadvantages of the Hungarian residence permit can include the requirement to stay on the territory of the state: so, the owner of the status must be in the country for at least 183 days a year. Police monitor this requirement: law enforcement officials can visit the place of residence of person who got a residence permit and request documents, which should confirm the presence in the country within a specified period. In the case if, the owner of the status was in the country for less than 183 days in a year, there is a possibility of denial of the renewal permit.


THE PROCESS OF OBTAINING A RESIDENCE PERMIT IN HUNGARY ON THE BASIS OF PURCHASE OF REAL ESTATE:


The residence permit on the basis of acquisition of real estate is the most cost-effective and affordable option. The procedure for obtaining the status implies the registration of the annual visa D. For this the applicant need to contact the Consulate of the country, located at the place of permanent residence. For visa D it will be required to provide documents in accordance with the established list (copies of civil and external passports, Bank statement of account status, insurance policy etc.).
 
After getting the visa the applicant must go to Hungary to submit documents to receive a residence permit card. Legislation provides for a three-month period of documents review, however, in reality this procedure usually does not take more than two weeks. After reviewing the documents, the applicant receives a residence permit card valid for the year. Purchase of real estate is carried out within three months after obtaining the status. The minimum threshold value of the purchased real estate is 86 000 euros.


Is there a risk of refusal to grant a residence permit?


 
In some cases this situation is indeed possible: an obstacle to obtaining a residence permit in Hungary can be violations of the law (Hungarian or migration), as well as providing false information and forged documents. In addition, the decision to refuse is taken in case if the issuance of a residence permit may threat the national security of Hungary. One of the conditions for obtaining the status is also the absence of a criminal record.
 
So, obtaining a residence permit in Hungary has a number of advantages that make this offer one of the most popular and attractive. The status provides accommodation in economically and politically stable country, allows to do business on favorable terms and to visit the countries of the Schengen agreement without visas. In addition, the residence permit allows to aspire for citizenship of Hungary after an eight-year period. The only disadvantage of the program is the need to stay in the country for six months. However, for those applicants who really plan on living in a comfortable and safe country, a residence permit in Hungary is the most attractive and affordable offer.

 


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