Hungary is closing its guest investor programme: applications accepted until 31 December 2026

In brief

• The bill was published on 4 November 2026 as part of a package of amendments to law enforcement and public security laws. Its stated aim is to remove the Guest Investor Programme from the law.
• From 1 January 2027 applications for the guest investor visa, a first residence card and extensions will not be accepted.
• An application filed by 31 December 2026 with the fee paid is decided under the current rules.
• A valid residence card runs to the end of its term. The second 10-year extension is gone.
• This is a bill, not a law. The text may still change during consultation and in parliament.

A programme not yet three years old is leaving the law

Hungary launched the guest investor programme on 1 July 2024 under Act XC of 2023 on the entry and residence of third-country nationals. It offered a 10-year residence permit, renewable for another 10, the right to work and free travel across Schengen, with no requirement to spend a set number of days in the country. Its entry threshold was one of the lowest in the EU.

On 4 November the government published a bill that removes the programme from the law altogether. It gives no separate explanation: the change sits inside a large package of amendments to law enforcement and public security laws. This is the second major change in the programme's short life. In December 2024 the direct purchase of a home for EUR 500,000 was removed before that route ever opened.

Two routes remain today. Both stay available until the law takes effect:

Most applicants chose fund units. The list of qualifying funds is kept by the National Directorate-General for Aliens Policing (OIF) on its website, and buying units outside that list makes no sense: such a purchase does not give grounds for a card.

What this means for you. The 31 December 2026 date and a fee paid by then become the key condition. If the bill passes as drafted, deciding to wait until January means deciding not to enter the programme at all.

Who is affected and what changes for each group

The bill sets transitional rules for different groups. We have put them in one table:

Note the third row. Nationals who enter Hungary without a visa can currently apply for a residence card inside the country within 30 days of arrival. From 1 January 2027 that option disappears with no transition window. If you planned to arrive in January and apply on the spot, that plan no longer works.

For those who already hold a guest investor visa from a consulate, the bill leaves a bridge: you may apply for the card under the old rules after 1 January, provided the visa was issued before that date. We would not wait until the last day of the visa, though. Every week of delay raises the risk that the final wording turns out stricter.

Card holders: the second ten years are lost

For those already in the programme, the main news is the end of extensions. A card issued in 2025 will run its full term. But the second 10 years, the reason many chose Hungary as a long-term base in Europe, are cancelled by the bill. Family members' cards are capped at 10 years and cannot be extended after that.

The investor and family members keep the right to work in Hungary until their cards expire. The bill also lets the authorities withdraw a card if the investment behind it disappears. Selling fund units before five years and hoping to keep the status is a poor plan.

To stay in Hungary after the card expires you will need another basis. For some holders that is permanent residence if they meet its conditions. EU long-term resident status requires 5 years of lawful and continuous residence, and time on an investor card without real life in the country will not provide it. Those who work or run a business can look at the self-employment permit or the White Card for remote work. Families should check the family reunification rules separately.

What this means for you. If you hold an investor card, write down the expiry dates of your card and your family's cards and choose the next basis a year to eighteen months before they end, not in the last months.

For Russian citizens the programme has been closed since 2022

For Russian citizens and people living in Russia nothing gets worse, because the programme's main route has long been closed to them. EU sanctions Regulation 833/2014 prohibits selling them units in the funds that the Hungarian programme relies on. There is one exception: citizenship or a residence permit of an EU or EEA country or Switzerland. A second third-country passport held alongside a Russian one does not help.

Sergej Evdokimov has explained in detail why the Hungarian golden visa is still being sold to Russians and how not to lose a fee on it. News of the closure only adds reasons for caution. If someone offers to get you in "before 31 December" with a Russian passport and no EU residence, that offer cannot work.

How filing works under the current rules

The procedure is set out on the website of the National Directorate-General for Aliens Policing (OIF), and in the weeks left every detail matters. The guest investor residence card is issued only on an application filed inside Hungary. There are two ways in: entering on a guest investor visa issued by a consulate, or entering visa-free if your citizenship allows it.

• The deadline is 30 days after entry on the guest investor visa or after the first lawful visa-free entry.
• If a lawyer or a company files under a power of attorney, the application goes only through the Enter Hungary electronic system.
• Even with electronic filing the applicant attends OIF in person to give fingerprints and a photo for the card.
• The investment is proven with a document from the fund manager, and the right to housing in Hungary with a lease, ownership or another document.
• Under the current rules an extension is filed no later than 30 days before the card expires. Under the bill there will be no more extensions.

This gives a simple calculation. To file by 31 December you need to enter Hungary, hold proof of the investment and housing, and get an appointment for biometrics. For nationals who need a guest investor visa, the consulate's timeline comes on top. We count back from the last date and give each client the real day by which money and documents must be ready.

What to do now

Late December in Hungary means holidays and short working weeks. Starting preparation in mid-December is too late: translating and legalising documents from third countries takes weeks. The realistic date to have a complete file ready is mid-December.

If Hungary is out of reach, other EU programmes remain. The Greek Golden Visa starts at EUR 250,000 for converting a non-residential building and EUR 400,000 for homes outside large cities and islands. The Portuguese Golden Visa is available through investment funds from EUR 500,000. Cyprus permanent residence gives permanent status for a new-build purchase from EUR 300,000. Compare the terms in Hungary, Greece or Portugal and in our residence by investment catalogue.

Three risks of filing at the last moment

The first risk is the text of the law. The bill may change, and the final wording could move the date or narrow the transitional rules. So we do not advise sending money to a fund until it is clear that the application can physically be filed by 31 December with the fee paid.

The second risk is exiting the fund. Units are held for at least five years, and redemption terms, fees and valuation differ between funds. In a closing programme demand for new units will fall, and in five years selling them at a good price may be harder than expected. Read the exit terms before buying, not after.

The third risk is the contract with an intermediary. In a rush it is easy to pay a fee without a refund clause. Check that the contract says plainly what happens to the money if the law changes before filing or the application is rejected. If there is no such clause, that is a reason to stop.

What comes next

The bill goes through public consultation and is then submitted to parliament. The 1 January 2027 date in the text signals the government's intention to finish the procedure before year end. We are following the final wording and will update this report once the law is published. Sergej Evdokimov sets out who should act and how in the remaining weeks in his analysis of the programme's closure.

If you are comparing options, see our full review of the programme, the guest investor guide and our overview of Hungarian taxes: resident status and tax residency are different things, and card holders should check that too.