How to retire in Hungary - The golden years

Parent Category: ROOT Published: Friday, 09 July 2021 Print
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Residence permit in Hungary for retirees

 

Immigration to Hungary for pensioners is an opportunity to discover a new world.

With European permanent residence or citizenship, a foreigner ceases to be a stranger in the Schengen area and can choose any country for permanent residence or work, as well as travel in a visa-free regime to 150 countries of the world. Hungary seems attractive to students, business people, and retirees.

 

Immigration to Hungary for retirees is not an easy procedure, as it is to any of the EU countries, but it is quite feasible for a person who has set a specific goal. 2021 did not bring significant relief to immigrants: from January 1, 2017, the minimum investment in government bonds increased. 

 

This procedure made it possible, without problems and in a short time, not only to move to the country with the whole family, based on obtaining permanent residence but also to obtain Hungarian citizenship in just two years. Everything else remained unchanged.

 

Ways to obtain permanent residence for retirees

 

A person on a pension can get permanent residence in Hungary only if he is well provided for and can prove it. Pensioners can immigrate to Hungary only for several reasons:

  • Buying real estate;
  • Long-term treatment;
  • Investing in the development of the Hungarian economy.

 

The first way to immigrate to Hungary for retirees is to buy real estate in Hungary. Pensioners with foreign citizenship are not allowed to buy only agricultural land with an area of ​​more than 0.6 hectares. The real estate acquisition process is very simple. Initially, pensioners choose a living space, then a prepayment is made for it in the amount of 10% of the total cost of real estate or land.

 

After paying the prepayment, you need to contact the mayor's office with a passport and documents confirming the payment. The appeal is necessary to freeze the property until it is fully re-registered as a foreign resident. This is done to prevent fraud by the property owner. After the foreign resident receives permission from the mayor's office, he can pay the remaining 90% of the property value.

 

After the purchase, a person receives a passport of the owner of the real estate, and based on this document submits papers for a long-term visa of type D. How to read a Schengen visa After obtaining a national visa, you need to apply for a residence permit, which is issued to foreign pensioners for 1 year. A year later, subject to the safety of the acquired housing, the foreign resident has the right to extend the residence permit for another 2 years. After 3 years of residence under a residence permit, a pensioner has the right to receive permanent residence, and after another 5 years, apply for Hungarian citizenship.

 

Immigration to Hungary for permanent residence for pensioners is also possible for long-term treatment in this republic.

 

man in red jacket standing beside woman in blue jacket

 

Long-term treatment in Hungry for retirees

To arrive based on medical treatment, a pensioner must have a medical certificate from the attending physician, which confirms that the person needs to undergo procedures at sources (or other places) in the Republic of Hungary. If a pensioner has lived in Hungary for more than 8 years, then he can become a full citizen of this country and apply for a pension and other state payments and benefits.

 

Hungarian Investor Immigration Program for retirees

Pensioners can get permanent residence in Hungary for a solid investment. Their amount is 300 thousand euros + 50 thousand one-time commission allows a foreigner to automatically obtain permanent residence in Hungary for the whole family and the opportunity to obtain citizenship on preferential terms.

 

Such government measures helped to strengthen the economy, and also made immigration to Hungary very attractive for wealthy foreigners. The transaction procedure is thought out for details and is completely safe for investors and the state. The bank freezes the investment amount while processing and checking all documents. And only after the final decision in favor of one or another party, he completes the operation, transferring money either to the final recipient - the state, or returning it - to the owner.

 

Obtaining permanent residence in Hungary through investment is a profitable offer since the entire amount, except a one-time commission, is returned to the investor after five years and all contractual obligations are removed from him. But at the same time, the right to permanent residence and the ability to apply for citizenship at any time, if he has not already done so, remain.

 

The second way to obtain this permission through inversion is to invest in non-refundable funds of 150,000 euros. That is, if in the first case the investments are returned to the owner after 5 years, then, in this case, the money is not returned to the foreign resident. In both cases, permanent residence is issued for life.

 

Permanent residence in Hungary Permit for permanent residence in Hungary can be obtained only after continuous residence in the country for 3 years under the residence permit. It is the residence permit that serves as the basis for issuing permanent residence for 5 years. 

 

The difference between a residence permit and permanent residence is small, but the owners of permanent residence have a wider range of rights. The holder of permanent residence is considered a resident of Hungary, he/she can receive free education and medical care.

 

Permanent residence is a plastic card that is issued for 5 years. It does not need to be renewed annually. Basic requirements and grounds for obtaining permanent residence in the Republic of Hungary: Residence in the country for 3 years. 

 

A foreign resident is required to stay in the country for more than 270 days a year.

  • Availability of real estate;
  • Real estate can be either rented or owned;
  • Registration at the place of residence;

A pile of passports with visa stamps.

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