The Hungarian government announced a Guest Investor residence permit for purchasing real estate fund units. To qualify for residency, investors in real estate fund units have to purchase a share of at least €250,000 in a government approved fund. The chosen fund should be registered with the Hungarian National Bank and have at least 40% of its assets invested in residential real estate in Hungary.
Government Approved Real Estate Fund Managers
By April 2025, Hungarian government has approved two real estate investment funds under Guest investor program.The Immigration office accepts certificates issued only by government approved real estate funds..
- SPRINT Hungary Real Estate Development and Investment Fund;
- Gravitas Hungary Real Estate Fund.
The list of real estate fund managers listed in register of qualified market operators above are regulated by the Hungarian government.
Fund Share Condition
at least 5 years, to have an investment fund share issued by a real estate fund whose net asset value comprises
- minimum 40% of investments in residential real estate in Hungary and
- Real estate fund manager is listed in the register of qualified market operators under Act XXX of 2016 on Procurement for Defence and Security Purposes.
Only those fund managers shall act who qualify as an alternative investment fund manager (hereinafter referred to as AIFM) under Act XVI of 2014 on Collective Investment Trusts and Their Managers, and on the Amendment of Financial Regulations (hereinafter referred to as CITA), and who is authorised to manage alternative investment funds (hereinafter referred to as AIF) in which the value of assets under managementa)
- Exceeds a threshold of EUR 100 million in total (including assets created through leverage), or
- Exceeds a threshold of EUR 500 million in total, where the portfolio of AIF comprises of AIFs which are not financed through leverage and in whose cases no redemption rights shall be exercised within 5 years from the date of the original investment into the various AIFs.
Apart from the above mentioned, also fund managers shall act who, qualifying as an investment fund manager under CITA, manages a real estate fund in which the value of assets under management exceeds a threshold of EUR 600 million in total.
Regulation
Acquisition of an investment fund share of at least EUR 250 000 issued by a real estate fund registered by the Hungarian National Bank, specified as a type of investment in Point
a) of Section 16(3) of Act XC of 2023 on General Rules for the Admission and Right of Residence of Third-country Nationals (hereinafter referred to as Act XC of 2023), shall be realised, based on Point
b) of Section 22(9) of Act XC of 2023, by purchasing an investment fund share issued by a real estate fund whose manager is listed in the register of qualified market operators under Act XXX of 2016 on Procurement for Defence and Security Purposes (hereinafter referred to as Act XXX of 2016).
Why Real Estate Fund
The hungarian economy and real estate market are growing at rapid rate every year.
- Direct benefit to the Hungarian economy
- High appreciation of capital and rental returns
- Job creation through capital injection
- Eligibility for Golden visa permit
- Low taxes in Hungary
The capital of Hungary real estate investment funds is invested in the following:
- residential and commercial property — both domestic and foreign;
- industrial parks;
- shares in real estate companies;
- property rights;
- items needed for the intended use, operation, or maintenance of the property.
- Up to 20% of the capital accounts for other funds investing in the real estate market or exclusively in liquid assets.
The investment is proved by a share certificate issued under the applicant’s name with a 5-year validity period.
Investor Benefits
Investors who contribute to GIP funds are granted rights that ensure protection, transparency, and the potential for returns. These rights are based on Hungarian law and EU financial regulations. The Hungarian National Bank supervises their enforcement.
Indirect ownership rights.
When investing in a Hungarian real estate fund, investors acquire units that represent a proportional interest in the fund’s assets and liabilities. A licensed fund manager handles the portfolio based on the fund’s strategy. Investors do not select or manage the properties.
Right to returns
Investors receive a share of the income generated by the fund. This may include:
- rental income from leased properties;
- interest from real estate-backed loans;
- capital gains from the sale of assets.
- Redemption rights. Investors may redeem their investment after a certain holding period. For the Golden Visa program participants, this period is five years.
Transparency and reporting rights.
Investors receive regular and detailed updates on fund operations. These include:
- quarterly or annual financial reports;
- asset valuation updates;
- performance and holdings statements;
- details of major changes in strategy or management.
Limited voting and governance rights.
Unlike shareholders in a traditional company, fund investors usually have limited influence over daily management decisions. However, major changes — such as amendments to the fund’s strategy, mergers, or liquidation — may require investor approval.