He attended the Imperial Military Academy in Budapest and subsequently served in the Hungarian army (Honved Hussars).

After World War I he left military service with the rank of Royal Hungarian Rittmeister.

From 1936 Bolváry worked for a number of production companies in Vienna, notably for Styria-Film, Terra-Film and Wien-Film.

After World War II Bolváry went to Rome and up to 1949 made a number of films as director for Cinopera.

Aged 63, he died of heart disease on 10 August 1961 in Altenbeuern (now Neubeuern), near Rosenheim in Bavaria, Germany.