Hungary guest investor permit: the real estate option buys fund units, not a home

The cheapest way in is units in a Hungarian real estate fund, held in a securities sub-account blocked for at least five years. You own a share of a fund, not a flat, and you still have to show where you will live; the immigration authority lists no option for buying a home directly.

Someone who wants a flat in Budapest and a residence permit is buying two separate things here. The figure above buys units of a real estate fund registered by the Hungarian central bank. At least 40% of the fund's net assets must be homes in Hungary, but those homes belong to the fund. Your own place to live is proved separately, with a lease, a title deed, a host's letter or a paid booking.

Which fund qualifies

The fund's manager must appear on the authority's list of qualifying managers. Your securities account manager issues a document showing the units are blocked. If any detail behind the investment changes while you hold the permit, you report it within five days.

The order of steps

Nationals who need a visa apply abroad for a guest investor visa, valid up to six months, with a written declaration of the investment they plan to make. They file the permit application in Hungary after entering on that visa; visa-free nationals file within 30 days of first entering. Proof that the units were bought can come after the application: by the end of the visa's validity, or within six months of first entry for visa-free nationals. The permit lasts up to ten years and can be extended for up to ten more, as long as you still hold the units.

The other route is a donation four times the figure above to a university maintained by a public trust. It is a gift, and an extension needs no second one.

The state's charges and the fund manager's

To the Hungarian state: a visa fee paid in euros at the consulate, and a permit fee paid in forints in Hungary, lower when you file through the online platform than in person.

To the firms: the fund's entry, management and exit charges, the account manager's fees, and any adviser's fee.

Ask the fund distributor or adviser:

1. Is the manager on the immigration authority's list today?
2. What will the fund charge to buy, to hold for five years, and to sell?
3. Who issues the document proving the five-year block, and when?
4. Where will you live, and on what document will you prove it?
5. If the permit is refused, or the rules change after the units are bought, can you sell them, and at what cost?

A fund distributor's subscription offer or an adviser's quote for the permit can go through the box above: answer yes at its top, and it is read line by line against the published rules and the prices firms on file publish for this route. With neither in hand, answer no and enter the amount you plan to put into the fund. The check compares a document or a figure with the published rules, and does not look at your application or advise on it; for advice on your own case, speak to a qualified immigration lawyer.

General information, not legal advice.