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Permanent residency in Hungary – how to renew the status

The Hungarian permanent residence program for investment was closed in 2017. The program has fulfilled its task and the Hungarian economy received sufficient funds to “revive” itself, Prime Minister of the country Viktor Orban said.

All Hungarian permanent residence cards that were previously received remain valid. But those who obtained permanent residence in 2016 need to take care of renewing their status – it is valid for five years.

How to renew permanent residence in Hungary

Продление ПМЖ Венгрии An application for renewal of permanent residence must be submitted 1-2 months before the expiration of the card. You also need to provide your passport, ID and Hungarian address card. If all was done correctly, the card will be reissued within four weeks. To simplify the process, you can contact us – the experts of the Migronis international company will fill up a statement and all the necessary annexes to it. On your part, you will need to gather documents and receive an updated Hungarian permanent residence card for yourself and your family by mail.

Permanent residence in Hungary - alternatives

In Europe, an alternative residence permit for investment is provided by Greece, Portugal, Spain, Latvia and Italy. One more alternative is Malta. Unlike Hungary, this country offers more transparent investment options, and the state’s credit rating is higher than Hungarian.

Advantages of a permanent residency in Hungary

Those who managed to obtain permanent residence in Hungary and are now only renewing it, enjoy a number of advantages:

  • visa-free visits to the Schengen countries;
  • the ability to quickly change tax residence;
  • rights are practically equal to those of Hungarian citizens;
  • permanent residence for all family members including parents, children over 18, and grandchildren;
  • obtaining the right to live in Europe for life without the need to renew the status.
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