How to buy properties in Hungary if you are coming from a non-European Economic Area country?
If you come from Russia or another country which is out of the European Economic Area, you need to get permission from the regionally relevant Government Office. You get a residence permit after 180 days living in Hungary, which should be renewed every year/two years - depending on how many years you got your work permission.
If you would like to buy a property in Hungary, you have two options:
1. You get the Hungarian citizenship after 8 years living in Hungary. If you only have the residence permit and not yet the Hungarian citizenship, you have to ask for a request to buy a property in Hungary at the competent government office. The fee is 50.000 HUF
2. The other option is to establish a company in Hungary which will be later the owner of the property. It is worth to consult with an accountant about the costs before establish. In this case the managing director of the company will sign the sales contact.
The progress of getting the permission:
- Sign the sales contract, which has to be given into the Land Registry in three copies
- Certify the copy of the passport by a notary
- Pay 50.000 HUF as the process fee
- Write a statement about the purpose of buying the property
- Give permission to the Immigration Office to forward information to the Government Office about immigration status if it’s needed.
- The duration of the process is 120 days.
- Sales contract is only valid in written form. Deposit has to be given at the time of the contracting. The permission of the Government Office is needed for the valid sales contract. If there is a co-owner, his permission is also necessary.
- Lawyer fee: it is usually 1%, the buyer is paying it.
- Acquisition of property tax: 4%; this is paid by the buyer for the Tax Office. The fee is calculated based on the market value.
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