The relaunched Hungary Golden Visa is a sought-after option for investors seeking European Union residency.
However, Hungary residence by investment is not the only one of its kind in Europe.
To help you make the right choice, let’s compare the requirements of the Hungary program and several popular European alternatives.
Commonalities between the Hungary Golden Visa and other EU programs
Before we begin, it is important to remember that many EU Golden Visas have common things among them, as well as program-specific differences.
Commonalities that are as follows:
- only non-EU/non-EEA citizens can apply for an European Golden Visa;
- main applicants must be over 18;
- all applicants must have clean criminal record and obtain health insurance;
- investors must prove the legality of funds;
- while the initial application can be remote, applicants eventually must travel to the country to finalise the process; they submit biometric data and get residence cards;
- visa-free access to the Schengen Area becomes available to all European Golden Visa holders; they can stay in other Schengen countries within for up to 90 days within a 180-day period;
- holders can access most public services of the host country, either for free, or for a reduced fee;
- no European Golden Visa programs provide direct citizenship, only a residency permit; but holders can become eligible in time.
Differences usually include permitted family composition, required stay, tax incentives, and the right to work.
Hungary Golden Visa Program
Relaunched in 2024, the Hungary Golden Visa, or Hungary Residence Permit by Investment program offers a 10-year residency in exchange for investments.
Investment options and minimum thresholds:
- Real estate funds. Minimum investment is €250,000. Investors must purchase units in real estate funds registered with the Hungarian National Bank. The investment is refundable after five years when the units can be sold.
- Residential real estate, available from January 2025. Minimum investment is €500,000. Investors must purchase property in Hungary and maintain ownership for at least five years.
- Non-refundable contribution. Minimum donation is €1,000,000 to Hungarian public interest foundations for education, scientific research, or artistic creation.
Benefits of Hungary Golden Visa include
- 10-year residency permit that can be renewed;
- right work, Hungary;
- lowest in Europe personal and corporate tax rates, and no wealth tax;
- no required stay;
- residency can be provided not only to spouses and minor children, but to financially dependent parents as well.
The obtainment process takes 5+ months.
Permanent residency can be applied for after three years of continuous temporary residency.
Citizenship eligibility after 11 years of continuous residency, with Hungarian language and history proficiency requirements.
Portugal Golden Visa
This program was relaunched in 2023, and provides investors with a 5-year residence permit. Unlike many other Golden Visas, including the Hungarian one, it does not have a real estate option.
Investment options and minimum thresholds:
- Culture and heritage. Minimum investment is €250,000 in the arts or in cultural restoration projects approved by the Portugal government. The amount is reduced to €200,000+ for low-density areas.
- Investment fund. Minimum investment is €500,000. Investors must buy shares in a qualifying Portugal investment fund with a maturity of at least five years. At least 60% of the fund’s value must be invested in Portugal companies.
- Business and job creation. Minimum investment is €500,000 in the incorporation of a business in Portugal that creates a minimum of five permanent jobs, or in the expansion of an existing business that maintains or creates at least ten jobs.
- Scientific research. Minimum investment is €500,000 in Portugal’s scientific research projects.
- Starting a company that creates at least ten jobs.
Benefits of Portugal Golden Visa include:
- right to work in Portugal;
- partial access to public services;
- not just spouses and minor children, but dependent children under 26, and dependent parents can be included.
Obtainment process takes 12+ months.
Permanent residency can be obtained after five years.
Citizenship is possible after five years, with basic knowledge of Portuguese language required.
Italy Golden Visa
Investment options and minimum thresholds:
- Government bonds. Minimum investment is €2,000,000 in Italian government bonds. The bonds must be held for at least two years.
- Italian company shares. Minimum investment is €500,000.
- Innovative startups. Minimum investment is €250,000.
- Charitable donations. Minimum donation: €1,000,000 to public interest projects in culture, education, or scientific research.
Benefits of Italy Golden Visa
- right to work in Italy;
- special tax regime for 15 years — for a flat €200,000 annually there is no need to pay foreign income taxes;
- not just spouses and minor children, but also dependent children of any age and dependent parents are eligible.
Obtainment process takes 4+ months.
Permanent residency is possible after five years.
Citizenship is possible after ten years, with a B1 Italian language proficiency requirement.
Cyprus Golden Visa
Investment options and minimum thresholds:
- Real estate investment. Minimum investment is €300,000 in real estate. Property must be held for at least five years.
- Business investment. Minimum investment is €300,000 in a business in Cyprus.
- Capital transfer. Minimum transfer is €300,000 into a Cypriot bank account.
Benefits of Cyprus Golden Visa
- right to move a foreign business to Cyprus, buy shares in local companies, or start new companies;
- one of the lowest corporate tax rates in Europe, no global income tax;
- not just spouses and minor children, but also partners, financially dependent children under 25, and disabled children of any age are eligible.
Obtainment process takes 3+ months.
Permanent residency is granted immediately after approval.
Citizenship is possible after 5 years, with a Greek language proficiency and cultural knowledge test.
Greece Golden Visa
Investment options and minimum thresholds:
- Real estate investment. Minimum investment depends on location. In Attica, Thessaloniki, Mykonos, Santorini, or islands with over 3,100 residents it is €800,000. In other regions — €400,000. In some cases the threshold can be as low as €250,000 if a property is meant for restoration or conversion into a residential space.
- Investment funds purchase — €350,000;
- Tourist accommodation lease for 10 years — €400,000+;
- Tourist accommodation timeshare — €400,000+;
- Real estate as a gift or inheritance — €400,000+;
- Fixed-term deposit — €500,000+;
- Government bond purchase — €500,000+;
- Capital investments in a Greek company — €500,000+;
- Greek traded corporate bond purchase — €800,000+.
Benefits of Cyprus Golden Visa:
- a flat €100,000 annual tax on global income instead of the progressive scale of up to 45%
- right to move a company’s tax residency to Greece.
Obtainment process and timing takes 4+ years.
Permanent residency is possible after 5 years.
Citizenship is possible after 7 years of residency. Greek language, culture, history, and government structure knowledge is tested.
To conclude
The Hungary Golden Visa provides a 10-year renewable residency with investment options, no required stay, and tax benefits. Compared to other EU programs, it offers competitive terms, but individual requirements and investment thresholds vary across countries. Careful comparison and a professional consultation are essential.
