Guest Investor Visa and Permit Frequently Asked Questions (FAQ)

FREQUENTLY ASKED QUESTIONS (F.A.Q.)

IN CONNECTION WITH AN APPLICATION FOR A VISA FOR GUEST INVESTORS AND A RESIDENCE PERMIT FOR GUEST INVESTORS

 

 

1.      Can a third-country national with a valid residence permit submit an application for a residence permit for guest investors in Hungary?

If you are a holder of a residence permit in Hungary and are entitled to enter the territory of Hungary without a visa on grounds of your nationality, you can submit an application for a residence permit for guest investors during your legal stay, after your investment has been realised. If you have a residence permit in Hungary and, on grounds of your nationality, you are not entitled to enter Hungary without a visa, you do not have the option to apply for a residence permit for guest investors. In this case, you must first apply for a visa for guest investors abroad.

 

2.      Is there a statutory entry deadline for a visa for guest investors?

 

After the respective visa for guest investors is issued, you can enter Hungary at any time within its validity period. However, please note that if you have undertaken to realise the investment in a statement when applying for the visa, you must complete the investment within 3 months of the visa being issued, and within 3 months of entering the territory of Hungary, you must certify via the platform of Enter Hungary interface that you have realised the undertaken investment.

 

3.      What is the validity period of a visa for guest investors and the respective residence permit?

 

A visa for guest investors is valid for a maximum period of 6 months, while a residence permit for guest investors is valid for a maximum period of 10 years. It is not possible to extend a visa for guest investors; a residence permit for guest investors can be extended once, for another 10 years. The validity period of a residence permit for guest investors may exceed the validity period of the foreigner’s travel document, accordingly, the authority does not limit the period of validity of the permit.

 

4.      Is there no requirement for a mandatory minimum stay in Hungary regarding the residence permit for guest investors?

 

Regarding the residence permit for guest investors, there is no rule regarding the minimum length of stay in Hungary for holders of such a permit document.

 

5.      In case of the extension of a residence permit for guest investors, is there no requirement for a mandatory minimum stay in Hungary either?

When processing the application for the extension of a residence permit for guest investors, the Directorate-General does not examine whether the third-country national’s stay in Hungary with a residence permit exceeded 90 days within any 180-day period prior to the submission of the application, nor will the residence permit be withdrawn on such grounds.

 

6.      If a visa for guest investors or a residence permit for guest investors is refused for any reason or it is not possible to submit the respective application (because, for example, the third-country national is delayed in realising the investment or submitting the application for the respective residence permit), is the third-country national entitled to submit an application for a new visa for guest investors or the respective residence permit again?

 

If a third-country national’s application for a visa for guest investors or a residence permit for guest investors is refused, (s)he has the option of submitting a new application, during which the circumstances that led to the refusal of the previous application can be remedied; however, the legal stay of the applicant entitled to a visa-free stay in Hungary will be examined by the aliens policing authority even in this case.

 

7.      Pursuant to Section 227(1)b) of Act XC of 2023 on General Rules for the Admission and Right of Residence of Third-Country Nationals (“Act XC of 2023”), the issuance (or extension) of a residence permit for guest investors shall be refused if, based on the available data and facts, it is likely that the third-country national will not realise the undertaken investment after the issuance of the visa for guest investors. What causes, reasons may lead to the refusal of the application for a residence permit for guest investors on such grounds?

 

Acting within its powers of discretion, the aliens policing authority assesses the available data and circumstances in this regard. The residence permit will be refused if the third-country national no longer has the financial resources to complete the investment.

After taking a decision on refusal, the aliens policing authority will also take measures to revoke the visa for guest investors, if it is established that the third-country national does not implement the undertaken investment within 3 months after the issuance of the visa, or does not verify the completion of the investment based on his/her commitment via the platform of Enter Hungary within the deadline.

 

8.      What conditions shall the investment fund share and the real estate fund manager managing it meet in order to be sufficient for applying for a visa for guest investors or a residence permit for guest investors?

 

With regard to the realisation of guest investment with investment fund shares, the third-country national is required to hold an investment fund share issued by a real estate fund for at least five years, at least 40% of the net asset value of whose investments is in residential real estate in Hungary, and whose real estate fund manager is listed in the register of qualified market operators under Act XXX of 2016 on the Procurement for Defence and Security Purposes (hereinafter: “Vbt.”). Another important rule regarding the real estate fund manager is that the respective manager must qualify as an alternative investment fund manager and must be authorized to manage an alternative investment fund (AIF) in which the value of the managed assets exceeds a threshold of EUR 100 million in total (including assets created through leverage), or exceeds a threshold of EUR 500 million in total, where the portfolios of AIF comprises of AIFs which are not financed through leverage and in whose cases no redemption rights shall be exercised within five years of the date of the original investment into the various AIFs. Apart from the abovementioned, also fund managers shall act who, qualifying as an investment fund manager under Act XVI of 2014 on Collective Investment Trusts and Their Managers, and on the Amendment of Financial Regulations (“Kbftv.”/CITA), manage a real estate fund in which the value of assets under management exceeds a threshold of EUR 600 million in total.

 

9.      From which real estate fund managers can investment fund shares be purchased that can be used in the guest investment procedure? Does the aliens policing authority know of distributors of investment fund shares?

 

The aliens policing authority does not keep records that contain data related to real estate funds or real estate fund managers. Therefore, we are currently not in a position to provide our clients with information in this regard.

 

10.  What is the administrative service fee for the application?

 

Information on the administrative service fees for applications can be found in the information note on fees for procedures related to the entry and residence of persons with the right to free movement and residence, and of third-country nationals, by clicking here .

 

11.  What type of an application can family members of guest investors submit?

 

They can submit an application for a residence permit for the purpose of family reunification, for which you can read detailed information here .

 

12.  How can a holder of a residence permit for guest investors undertake employment?

 

A residence permit for guest investors, as well as the related residence permit issued for the purpose of family reunification, entitles its holder to perform actual work for or under the direction of others, for remuneration, under contract for employment relationship; the third-country national is entitled to work in Hungary without restrictions.

 

In view of this, in case of undertaking employment or business, it is not necessary to change the residence permit for guest investors or the related residence permit issued for the purpose of family reunification to a residence permit issued for another purpose, as they entitle their holders to enter into employment relationship without restrictions.

In this regard, employers of third-country nationals are subject to a reporting obligation.

 

13.  Is it necessary to have an authentic Hungarian translation of the foreign-language enclosures/attachments, which can only be prepared by the Hungarian Office for Translation and Attestation Ltd. under Decree No.  24/1986 (of  26 June) of the Council of Ministers?

 

In case of foreign documents issued in a language other than English, it is necessary to attach/enclose an authentic Hungarian translation of the respective document made by the Hungarian Office for Translation and Attestation Ltd. (“Országos Fordító és Fordításhitelesítő Iroda Zrt”, “OFFI”).

 

14.  If the enclosure/attachment of the visa for guest investors or the respective residence permit is a document issued by an authority, employer, or third party (e.g., a certificate by a credit institution, employer or tax authority), how much earlier can the date of issuance precede the date of submission of the application?

 

Documents supporting the application (a certificate from an employer or tax authority, a certificate from a credit institution, and a turnover statement) issued in the period immediately preceding the submission of the application, credibly substantiating the applicant’s work and income conditions, must be submitted. In case of real estate purchases and sales, a contract of sale and purchase, in case of inheritance, a certificate of succession or an official attestation, etc., can also serve as additional credible means of proof. Nonetheless, in case of any potential deficiency, the authority can request the client to remedy the deficiencies (call for missing documents).

 

 

15.  If the conditions for a visa for guest investors or residence permit (financial coverage for the whole duration of the stay, including the costs of accommodation and subsistence and travel; coverage for the full range of health care or the ability to cover the costs of health care) are to be verified by a certificate of coverage, what is the level and amount of coverage per person accepted by the authority?

 

The Directorate-General will assess all the circumstances of a given procedure, both individually and as a whole, in view of their specific nature, and no specific amount can be given for the subsistence to be assessed in the case of a visa for guest investors or residence permit. It should be noted, however, that subsistence in Hungary is not a criterion to be assessed in the case of an application for a residence permit for guest investors.

 

16.  If the applicant does not wish to prove that (s)he is insured for the full scope of healthcare services by means of a certificate of coverage, it is acceptable to submit (1) an official agreement on the access to healthcare services (and proof that the applicant has paid 24 + 1 monthly amount at the time of the agreement and is therefore entitled to receive healthcare services from the first day of the month following the month in which the agreement was concluded) or (2) a copy of the policy of any private health insurance covering the territory of Hungary.

 

The applicant may prove his/her entitlement to healthcare benefits in accordance with Section 9(8) of Government Decree no. 35/2024 (of 29 February) on the Implementation of Act XC of 2023 on General Rules for the Admission and Residence of Third-Country Nationals. Please also note that the proof of subsistence and healthcare insurance is not required when applying for a residence permit, but when applying for a visa for guest investors.

 

17.  Can an application for a residence permit for guest investors and the related application for the purpose of family reunification be submitted together, or an application for a residence permit entitling to family reunification can be submitted only after the sponsor of family reunification has received his/her residence permit for guest investors?

 

An application for a residence permit for the purpose of family reunification may be submitted by family members in parallel with the application for a residence permit for guest investors submitted by the main/sponsor applicant. However, it is crucial that the family member(s) of a third-country national holding a visa for guest investors are not entitled to stay for the purpose of family reunification until the family reunification partner (i.e. the sponsor) has not been granted a residence permit for guest investors. With regards to third-country nationals who are subject to a visa requirement when crossing external borders, please note that they are not allowed to apply for a residence permit for the purpose of family reunification within the territory of Hungary. In view of this, please be advised that the time of submission of the application for a residence permit for the purpose of family reunification of third-country nationals subject to the visa requirement should be based on the time of submission of the application for a residence permit for the purpose of family reunification of the sponsor (only within the territory of Hungary), as there is no legal constraint to start both procedures at the same time or to submit the application for family reunification at a later stage.