Hungary to restart a program of Golden Visa

Under new conditions, those investing not less than €250,000 in national property funds or €500,000 into real estate will be able to apply for a renewable residency permit for a period of 10 years. In addition, it is planned to be provided for those who will invest minimally €1 million in the so-called public trusts. They were created by Hungarian government in order to ensure university activities.

It's worth mentioning that the former program was closed in 2017 amid a corruption scandal. At that time, a residence permit, along with the opportunity to freely move around the EU were provided for the purchase of government bonds amounting to €300,000. This resulted in an immigrant growth coming from Russia and China. Ultimately, the program was closed after a wave of media publications.

The decision on the new program is expected in early or mid-December. It is unclear when it will come into force, whether directly after it's been adopted, or later. Obviously, the government will need time to develop new legal parameters.