On July 1st 2016, the Hungarian Residency Bond Program will be implementing an amendment to the legislation whereby investors will be able to obtain Permanent Residency in as little as four weeks. The current two-step process will be converted to a single step, and residency will be received within 30 days of application submission. Currently, applicants are first granted a temporary residence permit for six months, and after that period they could apply for permanent residence. The program amendment simplifies the application process thereby making the country even more attractive to foreign investors.
The Hungarian Residency Bond Program, established in 2013, is one of the fastest investor immigration programs in Europe and, as of July 1st, will be even faster. Over 1 billion Euros has already been funneled into the Hungarian economy by foreign investors through the Residency Bond Program since inception. Applicants must invest only 300,000 Euros per family into government guaranteed bonds for a period of five years without interest, after which the full amount can be redeemed.
In addition to faster processing times, the legislation amendment is introducing another positive change being the addition of parents and children over the age of 18 to the investor’s application. Previously, only an investor’s spouse and children under 18 years old were included in the program.
Holders of the Hungarian Permanent Residency Permit get to enjoy visa-free travel across the Schengen countries. Investors and their families are granted the ability to live, work, and study anywhere in Hungary and have access to high-quality health care. Add to that the low cost of living and low business tax rates, it’s no wonder this country is sought after by wealthy business investors.
The country’s perfect location in the center of Europe, along with its rich and diverse culture, make Hungary one of the most visited destinations in the world. Thanks to the quick program processing times and the relatively low investment cost compared to other European countries offering comparable immigration through investment programs, Hungary is quickly becoming one of the most popular residency by investment programs on the planet.
For more information on the Hungarian Residency Bond Program, please click here.
Please fill out our Free Assessment, and find out if you qualify under any of the business immigration programs offered.