Published: November 24 2023
Hungary's Parliament is currently debating a new bill regarding the introduction of another golden visa program. This program aims to attract foreign investors by offering residency for a period of ten years. In this blog post, we will provide a summary of the opening address and highlight the key points of the debate.
Investment Residency Programs in the EU
The first speaker in the parliamentary debate noted that several EU member states already have golden visa programs in place. These programs typically involve investments in real estate, financial instruments, or support for public institutions. The investment amounts required can range from EUR 60,000 to EUR 1.2 million.
Compliance with EU Regulations
The speaker emphasized that the proposed Hungarian golden visa program is in line with EU regulations. The application process includes various types of background checks to ensure national security, as well as thorough scrutiny of the financial background of the investors.
Attractiveness of the Program
One of the key points raised in the debate is the attractiveness of the program. Granting residency for a period of ten years is expected to make it particularly appealing to investors. The aim is to attract foreign investment and stimulate economic growth in Hungary.
The parliamentary debate on the new golden visa program is still ongoing. Our team is closely following the proceedings and will provide updates on any new developments. Stay tuned for more information on this topic.
Hungary's Parliament is currently discussing the introduction of a new golden visa program aimed at attracting foreign investors. The proposed program is aligned with EU regulations and offers residency for a period of ten years. The ongoing debate will determine the final details of the program.
Questions & Answers
What is the Hungarian golden visa program? The Hungarian golden visa program is an investment residency program that grants residency for ten years to foreign investors who make certain investments in Hungary.
What are the investment purposes for the Hungarian golden visa program? The investment purposes for the Hungarian golden visa program typically include real estate or financial instruments. In some cases, public institutions may also be supported by such investments.
How much do investors need to invest to qualify for the Hungarian golden visa program? The investment amounts for the Hungarian golden visa program vary between EUR 60,000 and EUR 1.2 million.
Is the Hungarian golden visa program in line with EU regulations? Yes, the Hungarian golden visa program is in line with EU regulations. The application process involves various types of background checks to avoid risks to national security, and the financial background of investors is also scrutinized.
Who is eligible to participate in the Hungarian golden visa program? Foreign investors who make the required investments in Hungary are eligible to participate in the Hungarian golden visa program.
How long does the residency granted by the Hungarian golden visa program last? The residency granted by the Hungarian golden visa program lasts for ten years.
Are there any updates regarding the Hungarian golden visa program? The new bill about the introduction of another Hungarian golden visa program is currently being debated in Parliament. The debate is still ongoing, and updates will be provided as soon as possible.
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