Hungary

The Legacy of Hungarian History, Culture, and Traditions

The essence of Hungarian folklore is the amalgamation of customs and traditions from an array of ethnic groups that have populated the country through the ages. Hungary’s renowned traditional dances, verbunkos and csárdás, captivate audiences with their enchanting rhythm and complex footwork, standing as cherished testaments to its rich cultural legacy.

The official currency of Hungary is the Hungarian Forint (HUF). However, the Euro is also widely accepted in numerous stores and establishments throughout the country. In cities across Hungary, ATMs are readily available for cash withdrawals and accept major debit or credit cards. Additionally, most stores allow payments via debit or credit cards.

With over 2,000 years of turbulent history, Hungary has forged a deep sense of unity and a distinct culture among its people. Heritage and tradition hold a prominent place in Hungarian society, manifesting in national festivities, folk music, dance, and enduring family bonds that span generations.

Religion significantly influences Hungarian culture and traditions. The country is notably religious, with approximately 70% of the populace identifying as Roman Catholic, underscoring the strong influence of faith in the Hungarian way of life.

Hungary’s acclaim extends far beyond its cities, with the nation being home to some of Central Europe’s finest attractions, including remarkable architecture, mouth-watering cuisine, vibrant cultural events, and awe-inspiring natural beauty. There’s no wonder why it’s a preferred destination for many travellers.

Prominent Hungarian Cities and Must-Visit Destinations: A Spotlight on Budapest

• Perched along the graceful Danube River, Budapest shines as Hungary’s crown jewel. As the capital city, Budapest enthralls its visitors with its rich historical narratives, vibrant culture, and striking aesthetics. Boasting many attractions that cater to diverse interests, the city offers an array of stunning landmarks, timeless architectural wonders, and soothing thermal baths. It also takes pride in housing two of Hungary’s most iconic structures: the awe-inspiring Buda Castle and the impressive Hungarian Parliament Building.
• With a populace of 216,888, Debrecen is recognized as Hungary’s second most populous city and serves as the regional hub for the Northern Great Plain. Prior to the founding of Budapest in the 18th century, Debrecen was the nation’s largest city. The economic pulse of Debrecen is fueled by its agricultural sector. Among the country’s most advanced urban areas, Debrecen hosts the headquarters of various international corporations, accentuating its global relevance. The city is also a pivotal cultural nerve center within Hungary. Modern infrastructure, including the Debrecen airport and a network of railways and roads, enhances the city’s connectivity. Its geographical closeness to nations like Ukraine and Romania elevates Debrecen’s stature as a major trade center and transportation nexus.
• Szeged, nestled near the borders of Romania and Serbia, reigns as the largest city and the regional hub of the Southern Great Plain in Hungary. The city’s name, “Szeged,” originates from a Hungarian term for “corner,” reflecting the sharp bend of the River Tisza that threads through the city. Located near Hungary’s southern frontier, south of the Maros River, Szeged is a flourishing hub for the country’s food industries. The city also functions as a beacon of higher education for southern Hungary, attracting thousands of international students annually. Among its standout attractions is the Szeged Open Air Festival, an annual summer event that draws crowds from near and far.

These insights only scratch the surface of Hungary’s allure. A treasure trove of experiences, including pastoral communities, serene beaches, and a multitude of pristine locales, remains tucked away, eagerly awaiting your discovery. If you aspire to become a resident in Hungary, you can apply for the Hungary RBI program.

Key Considerations for Obtaining Residency in Hungary through Property Investment

The latest and most enticing investment residency program in Europe offers a remarkable pathway to securing permanent residence in a member state of the EU and Schengen area. By investing a government-guaranteed sum of 300,000 euros, applicants can rapidly gain Hungary permanent residency within a matter of months.

If you plan to become a resident in Hungary through property acquisition, remember that not all properties, regardless of their price tag, qualify for this immigration route.

A minimum investment of 300,000 euros in property is typically required to be eligible for residency in Hungary. Generally, there are two principal methods to secure residency through property investment in Hungary:

• Direct Property Investment: In this method, residency is attained through the direct purchase of property with an investment surpassing 300,000 euros, inclusive of related costs. After living in Hungary for five years, you are eligible to apply for Hungarian citizenship. This process usually takes around eight years in total.
• Corporate Property Investment: This path is associated with business ownership in Hungary and involves buying a property to lease. By establishing a limited liability company, you can purchase and lease properties. This method is relatively expedited, with the whole process typically wrapping up in approximately 2-3 business days.

Advantages of the Hungary Business Immigration Program

Those with a residence permit under this program can enjoy a range of benefits:

• Permission to live in Hungary for the duration of the permit.
• The freedom to stay in Schengen Area countries (conditions apply)
• A low-risk venture with minimal investment requirements.
• No stringent prerequisites concerning business experience, funding source, language proficiency, or educational qualifications.
• No mandated minimum stay to qualify for an application for permanent residence.
• The scheme extends to the applicant’s accompanying family members.
• Access to complimentary education within Hungary.

Eligibility Criteria to Obtain Hungary Residency by Investment.

To qualify for Hungarian residence, applicants need to satisfy several key criteria, including:

• Successfully pass due diligence and background verification checks
• Demonstrate adequate financial resources to support themselves and their family
• Obtain approval from the relevant authorities to purchase residential property
• Prove the possession of sufficient funds to buy a residential property in Hungary
• Ability to complete the purchase within a designated timeframe.

For more information and guidance on obtaining Hungarian residency via property investment, please get in touch with our team of advisors at “Cross Border Freedom.” With extensive experience and technical expertise, our consultants stand ready to assist you with all your queries and guide you seamlessly through securing residency in Hungary. We will offer essential guidance on immigration rules, procedures involved in real estate investment, the associated expenses, and tactical measures to ensure a smooth and successful path toward your residency through investment.