Budapest, Hungary – The Hungarian Golden Visa program continues to be an attractive pathway for investors seeking long-term residency in Europe. One of the key benefits of this program is the opportunity to convert temporary residency into permanent residency after fulfilling specific requirements. With Hungary’s strategic location, business-friendly policies, and Schengen Zone access, the permanent residency option provides significant advantages for global investors and their families.
Eligibility for Permanent Residency
To successfully convert a Hungarian Golden Visa into permanent residency, applicants must meet the following criteria:
•Residency Period: Applicants must hold a temporary residence permit for at least five consecutive years.
•No Extended Absences: The individual must not have left Hungary for more than six consecutive months or a total of 10 months over the five-year period.
•Legal Compliance: The applicant must have maintained a clean legal record during their stay in Hungary.
•Financial Stability: Proof of sufficient income and accommodation to support themselves and any dependents.
In addition, the permanent residency application requires submitting updated documentation, including proof of continuous residency and health insurance.
Application Process for Permanent Residency
1.Document Preparation: Collect and update necessary documents, including proof of residence, bank statements, and police clearance certificates.
2.Submission: Submit the permanent residency application through Hungary’s National Directorate-General for Aliens Policing.
3.Approval Timeline: The processing time for permanent residency applications typically ranges from 2 to 6 months. Upon approval, the applicant and their family members receive permanent residency cards.
Key Benefits of Permanent Residency in Hungary
•Unlimited Stay: Permanent residency allows individuals to reside, work, and study in Hungary without the need for additional permits.
•Schengen Zone Travel: Enjoy visa-free travel to 26 Schengen countries.
•Family Inclusion: Permanent residency can extend to spouses and children, offering long-term security for the entire family.
•Pathway to Citizenship: After holding permanent residency for three additional years, applicants may become eligible to apply for Hungarian citizenship.
Why Choose Hungary for Permanent Residency?
Hungary’s location in Central Europe makes it a strategic base for both business and travel. The country offers a relatively low cost of living, access to quality healthcare and education, and a rich cultural heritage. Additionally, its permanent residency process is considered more straightforward compared to other European countries.
