Residency by Real Estate Fund Investment in Hungary

What is residency by real estate fund investment in Hungary?

Hungary grants a long-term residence permit to non-EU nationals who invest at least €250,000 in an approved real estate fund. This is the fund route of the country's guest investor program, and it is currently the main investment pathway to Hungarian residency by investment.

The permit is valid for up to 10 years and can be extended once for another 10 years, according to the official OIF guidance. The alternative to the fund is a €1,000,000 donation to a higher-education public trust, which most applicants skip because it is non-refundable (source).

For the wider scheme and its two routes, see our overview of Hungary's Guest Investor Program. This guide focuses specifically on the real estate fund option and what it involves.

How does the real estate fund route work?

Instead of buying an apartment, you buy units in a regulated real estate fund. The fund must be registered with the Magyar Nemzeti Bank (the National Bank of Hungary), and at least 40% of its net asset value has to be invested in Hungarian residential real estate (source).

The minimum subscription is €250,000 in fund units, held as a share certificate of at least that value, and you must keep the investment for at least five years before you can redeem it (source). These vehicles are euro-denominated and aim for stable, moderate returns: the remaining assets of a typical fund sit in government bonds and money-market instruments to keep the product liquid and relatively conservative, according to published fund summaries.

As of 2026 only a small number of funds have been approved for this purpose. The approved list is maintained by the authorities and can change, so the current live list should always be confirmed before you commit any capital.

Why can you no longer just buy an apartment?

When the guest investor program launched in mid-2024, a direct property purchase was meant to be one of the routes. The government removed that option before it ever took effect, so from the start of 2025 buying real estate directly no longer qualifies for the golden visa (source).

The stated reason was to protect housing affordability and avoid pushing up prices for local buyers (source). The fund route keeps investor capital flowing into Hungarian residential development without applicants competing directly for individual flats.

You can still buy an apartment to live in. That simply is not what earns the residence permit anymore, so the purchase and the immigration case are treated as two separate matters.

What does the guest investor permit give you?

The guest investor residence permit is valid for up to 10 years and can be renewed once for a further 10 years, as long as you keep the qualifying investment (source). Holders can live, work and study in Hungary. The guest investor program has been running since it launched in 2024 (source).

Unusually for a residency-by-investment scheme, there is no minimum stay requirement: the authority does not examine how many days you actually spend in the country when you extend the permit (source). As a Hungarian residence permit, it also gives short-stay access to the wider Schengen area.

This permit is not permanent residence or citizenship in itself, but it can be a stepping stone toward both. See how the long-term route works in our guide on going from golden visa to permanent residence.

Who qualifies, and can your family come?

The program is open to non-EU and non-EEA nationals. EU and EEA citizens already have free movement and use a simple registration certificate instead, so this investment route does not apply to them. Applicants must show sufficient, legally sourced funds for the investment, backed by a bank certificate (source).

Family members can join through family reunification. In practice this covers a spouse, minor children and dependent parents, who receive dependent permits that include work rights (source). There is no language test, and no subsistence-income threshold is assessed specifically for this permit (source).

Because eligibility hinges on nationality and on proving the source of your funds, applicants from countries with complex banking or tax histories should prepare their documentation early to avoid delays.

What is the application process and timeline?

The route usually starts with a guest investor visa, which is valid for up to six months and lets you enter Hungary to complete the investment. You then have 30 days after entry to file the residence permit application, at which point the visa lapses (source).

Applications are handled by the immigration authority (OIF). The authority may take up to 90 days to decide (source). Applications and supporting files are submitted through the official Enter Hungary portal or at a consulate abroad. Typical documents include a valid passport, the bank certificate of funds, proof of the fund subscription, and biometric data captured in person.

Many applicants complete the fund subscription and the immigration filing in parallel with a local adviser, because the two processes have to line up precisely on timing and paperwork.

What does it cost, and how is it taxed?

The headline number is the €250,000 fund subscription, which is an investment rather than a government fee. You can redeem the units after the five-year holding period, subject to the fund's performance and rules. On top of that, budget for professional fees, fund entry costs and official charges, which vary by provider.

Residency does not automatically make you a Hungarian tax resident, but if you do become one, Hungary applies a flat 15% personal income tax and a 9% corporate rate, among the lowest in the EU (NAV; source).

High-net-worth newcomers often structure the move around this tax profile. Our guide to tax planning for high-net-worth newcomers covers residency triggers and common pitfalls in more detail.

What should you check before you commit?

Three things deserve close attention before wiring any money. First, confirm the fund is genuinely registered with the National Bank of Hungary and currently approved for the program, because the approved list is short and can change. Second, understand the five-year lock-up and the exact redemption terms of the units. Third, treat every figure here as general information that is subject to change, since the program rules have already shifted once since launch.

This is a high-value, document-heavy process where a Hungarian immigration lawyer earns their fee: reviewing the fund subscription agreement, confirming eligibility, and making sure the residence application is filed correctly and on time. Getting independent legal advice, rather than relying only on a fund's sales team, is the single best safeguard for a commitment of this size.

For related high-value routes and the wider picture, browse the rest of our investing and retiring in Hungary guides.

Frequently asked questions

Is the 250,000 euro a fee or an investment I get back?

It is an investment, not a government fee. You buy units in an approved real estate fund and must hold them for at least five years, after which you can redeem them subject to the fund's performance and terms (source).

Can EU citizens use Hungary's golden visa?

No. The guest investor program is for non-EU and non-EEA nationals. EU and EEA citizens have free movement and register their stay with a simple registration certificate instead of an investment permit.

Can I still get the golden visa by buying property directly?

No. The direct real estate purchase option was removed before it took effect, so from 2025 the fund route or the 1,000,000 euro donation is what qualifies (source).

How long is the residence permit valid?

Up to 10 years, and it can be extended once for a further 10 years as long as you keep the qualifying investment (source).

Do I have to live in Hungary to keep the permit?

No. There is no minimum stay requirement, and the authority does not examine your days in the country when you extend the permit (source).