- 15 Sep 2016 9:00 AM
This is the Hungarian Residency Bond program with that investors and their families can get permanent resident status in Hungary through investing in Special Hungarian Government Bonds issued by the Hungarian Government Debt Management Agency. The Hungarian Parliament adobted this new regulation in 2012 and the program is getting more and more popular, nearly 4000 bonds have been sold until today.
If an investor is a citizen of a non-EU country, and is able to invest EUR 360,000 (as a private individual or via a business in which the investor is a majority shareholder) and has no criminal record in Hungary, can join the program straight away! From the invested money EUR 300,000 will be refunded to the investor after 5 years and the Hungarian State warrants for the Government Bonds.
From 1st July 2016 even the investors’ family members (spouse, minor and dependant major children, dependant parents) are straight off entitled to get the national permanent resident permit in a fast-track 30 day long proceeding. The investor doesn’t even need to travel to Hungary, since the application can be submitted at any of the Hungarian Consulates. The program enables the investors and their family members to have the permanent resident permit in their hands within 2 months from the application.
The biggest advantage of the investment program compared to the regular proceeding is, that the investor and his/her family members hold their permanent resident status even after the redemption of their bonds without the need to subscribe to the bonds again. The holder of a Hungarian permanent residence permit can travel within the Schengen area without a visa (using his Hungarian ID documents evidencing his permanent resident status in Hungary), and can stay in countries of the Schengen area other than Hungary up to three months every six months.
It can be said that the Hungarian program is the fastest track in the world to obtain lifelong permanent residence permit in a EU country with that a whole family can secure its future with one refundable investment.
Dr. Szegő Judit Law Firm’s activities cover the whole area of civil law, including the following areas: company law, property law, family law, labour law, inheritance law, and litigation. Furthermore the office has wide experience in representing foreign investors in Hungary with full authority in English and German.
Address: 1026 Budapest, Gábor Áron köz 6. fszt. 1.