INFORMATION for foreign citizens, nonresidents of the EEA
The condition for legal support to obtain a residence permit in Hungary is the purchase of a real estate worth more than 350,000 euros.
The applicant must have a place of residence in Hungary (rented or owned). An application for a residence card (Lakcimet Igazolo) should be submitted to the competent authority.
The applicant must prove:
- residence (rental contract with confirmation of the landlord or purchase contract in case of own purchase)
- own income (salary or pension)
- proof of insurance (insurance from the country of origin or Hungarian insurance)
- after 5 years of uninterrupted residence in Hungary an application for a permanent residence permit (Regisztracios igazolas) can be submitted to the competent authority.
Service charges and other fees:
The cost of a residence permit due to real estate acquistion in Hungary: 275 euro (one-time cost) + administrative expenses: 150 euro / hour. Other costs may occur.
The fee of a lawyer of ImmoTrading who provides the legal support for a real estate purchase in Hungary: 150 euro per hour.
Additional costs may also arise if the buyer's lawyer outsources the handling of the sale of the property to an ImmoTrading lawyer.
Legal fees (preparation of the purchase contract etc.) for real estate purchases in Hungary is charged at 1% of the purchase price.
Other costs:
- land register entry: 50 euro / property
- land register excerpt: 10 euro / piece
- translation costs Hungarian / German / Russian / English / Persian etc.: from 10 to 45 euro per page depending on the language.
After the new owner has been registered in the land register, the Hungarian tax office will value the property independently (regardless of the actual purchase price) and this independent valuation will be taxed at 4%.
The amount to be paid will be assessed by the Hungarian Tax Office only approx. 3 months after the purchase of the property has been completed.
Fee for legal support:
- residence registration (Lakcimet Igazolo): 300 euro per person
- permanent residence permit (Regisztracios igazolas): 350 euro person.
Source: ImmoTrading GmbH Hungary
Dr. Bába Law Office
