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Hungary Permanent Residence Card Renewal

7 September 2021

Hungary Permanent Residence Card Renewal

Hungary Permanent Residence by Investment - Residency Card Renewal

Hungary is among the peak of the tourist destinations in Europe with the capital Budapest regarded as one of the gorgeous cities worldwide. Despite its quite small size, the country is home to numerous World Heritage Sites, UNESCO Biosphere Reserves, the second largest thermal lake in the world (Lake Hévíz), the largest lake in Central Europe (Lake Balaton), and the largest natural grassland in Europe (Hortobágy).Furthermore, it has low living costs, outstanding public education, almost no violent street crime, reasonably priced real estate, great moderate climate, 9% corporate tax.

The Hungarian Investment Immigration Program

The Hungary residence permit for non EU citizens (Hungarian Residency Bond Program) was launched in October 2013, and promised Hungary residency by investment to investors and their immediate family members (spouse and underage children) in return for an investment in Hungarian government bonds and a fixed government processing fee. The expedite investor program granting a five-year residence permit to investors investing EUR 300,000 in government bonds. This investment would be returned after five years without any interest being paid by the government.

The sunset of the Hungary residences permit by investment

The Hungarian residence permit by investment program (Hungary residency bond program) was closed in March 2017. Hungary citizenship by investment program is no longer possible.

The benefits of a permanent residency by investment in Hungary

The applicants who managed to get permanent residence through investment in Hungary and are at the present only renewing it, enjoy a number of benefits:

  • The Permanent residency through investment could be renewed after five years at no additional cost.
  • The Hungarian citizenship could be applied for after eight years but under firm conditions including a language test.
  • As Hungary is a full member of the Schengen zone in Europe, the Hungarian residence permit will allow the investor and her/his family to travel visa-free within the whole Schengen area.

Hungary residency bond program refund

Arranging for the Hungary residency bond program refund might acquire time. Since many residency bonds mature around the same time, expect a delay in processing the request.

How to renew permanent residence card by investment in Hungary

If you became qualified for Hungarian residency through investment , credit to your investment in the government bonds, then your permanent residence card in Hungary will most likely expire shortly. Verify the expiry date on your Hungarian residency card.  If you wish to keep enjoying the benefits of Hungarian residency, plan to begin the renewal procedure.

For the Hungarian residency through investment renewal, you will have to obtain the same documents as for the primary application. This will contain the promissory note that verifies your original bond investment. Since you received permanent residency through investment in Hungary, the residency card renewal itself is not related to what happens to your investment. Consequently, do not hang around until the Hungarian residency bond refund is arranged; begin the procedure for your residency card renewal in time.

Hungary permanent residence card application should be prepared from 1 to 2 months before the expiration of the permanent residence card. You also need to submit your passport, ID and Hungarian address card. If all was done properly, the card will be reissued within four-eight weeks. If your family members also received permanent residency in Hungary based on your investment, all the above applies to their residency renewal as well.

Hungary Permanent residence by investment alternatives

In Europe, an alternative residence permit for investment is provided by GreecePortugal, Malta and Spain

Final thought

There are a number of countries in Europe that offer an investor visa to non-EU/EFTA nationals. Choosing the Residency or Citizenship Program that best suits your needs can be difficult, especially when there are so many options available to you. We, therefore, encourage you to contact us before deciding on a Program and to help you make the right choice.

QICMS (Invest-visa.com) is one of the leading companies in the world in acquiring various immigration statuses: permanent residency permits, second citizenship and second passports.

To view our European Golden Visa Program comparison table, please click here.

If you would like to see our Residency and Citizenship Programs through Real Estate Investment comparison table, please click here.

Fill out our Free Assessment to see if you qualify for any of the immigration programs offered and to receive a free and confidential consultation. This is a secure online evaluation protected by SSL encryption.

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