Which country to choose to obtain citizenship? This is a question that worries many investors. In this article, we will look at programs from Hungary and Greece that offer to become residents and obtain citizenship of these countries some time after receiving a golden visa.
Let’s get acquainted with the offers, key advantages, and differences between these programs.
Hungary Golden Visa Available in 2024
In 2024, the launch of a new program called the “Residence Permit for Guest Investors” was announced, which was previously known as the Hungary Golden Visa program. The initiative was introduced in order to attract investors from different countries and continents, and they are rewarded with the opportunity to reside in Hungary. This is a prospect for those who wish to obtain housing in the country. This program provides you, as an investor, and your family with significant advantages, simplifying the process of obtaining the right to live and work in the heart of Europe.
Investment Options
Prospective residents can choose any of several options that contribute to the acquisition of Hungarian citizenship. The first is an investment of EUR 250,000 in real estate funds. You can also purchase property worth 500,000 euros. And another option is to make a donation of 1 million euros to a public trust.
Regardless of the chosen path, the applicant and his/her family will receive a 10-year residence permit in Hungary.
Key Benefits
The benefits of participating in the Hungary Golden Visa include a number of important aspects:
- You get the opportunity to reside in Hungary for a long period of time.
- You can use your status to develop your business in Hungary and across the European continent.
- Becoming a resident of the country opens up options for traveling within the Schengen area.
- The Hungary Golden Visa program is simple and transparent, which eliminates bureaucratic processes, and the solution of all current issues is significantly accelerated.
- After a certain period of staying in the Hungary area, you can expect to receive a passport by naturalization.
The undeniable advantages of the program are attracting more and more new investors.
Greece Golden Visa Still Works
Greece launched the Greece golden visa program back in 2013, which is aimed at attracting foreign direct investment into its economy. According to experts from Immigrant Invest, the Greece golden visa program gives foreigners the opportunity to obtain the right to reside in the country. They, in turn, contribute to the development of various economic sectors. Greece Residence by investment is possible for both individuals and their partners and direct relatives.
Investment Options
Program participants can choose from the following available investment options:
- Invest ā¬250,000 or ā¬500,000 or more in real estate in selected Greek municipalities.
- Invest a minimum of ā¬400,000 in an alternative investment fund.
- You can invest a minimum of ā¬400,000 in Greek securities with a maturity of at least 3 years.
- In the purchase of shares or bonds from 400,000 euros.
- In a mutual fund registered in Greece or another country from 400,000 euros.
- To invest in corporate government bonds from 800,000 euros.
- Conclude a lease agreement with tourism and restaurant establishments for the amount of EUR 250,000 or more.
Each of these options has its advantages, which may depend solely on your goals.
Key Benefits
The golden visa provides a prospect of entry into the European Union, opening up prospects for business, education and cultural exchange. According to Zlata Erlach, a specialist at Immigrant Invest, the program also facilitates the approval of residence permits not only for investors but also for their dependents.
Investing in real estate can provide you with passive income through renting and selling later, which makes this program interesting for financial growth. Residents have the opportunity to take advantage of the high standards of the European healthcare and education system.
It is also worth noting that the Greek program allows the investor and his/her associates to reside legally in Greece, while regularly renewing their residence permit every 5 years. After 7 years of permanent residence in the country, you can apply for a Greek passport.
Final Comparison
There are several key aspects to consider in the comparison programs of Hungary and Greece. For example, Hungary offers flexible conditions for investing in real estate, hospitality or charity. The program is characterized by simplicity and transparency, and it is possible to get accommodation without meeting the minimum conditions of stay. A person who invests in the economy and their close relatives can benefit from long-term life in Hungary and open a business in Europe.
Greece offers many opportunities for investment. In particular, real estate, funds and financial instruments. The program is aimed at the growth of economic sectors and regularly updates the residence permit every 5 years.
Both countries allow you to access the European Union and use healthcare and education in all European countries. That is, you and your children will be able to receive treatment and study in the EU. Thus, you have all chances to get significant benefits, including long-term residence, business development and travel within the Schengen area. Both programs attract new investors, but the choice between them will depend on your specific financial and personal preferences.