The Hungarian Special Debt Fund recently released a statement confirming that the Hungarian Residency Bond Program will be placed on moratorium starting March 31, 2017. Intake of applications will continue until that date after which the program will be suspended until further notice. Hungary now enjoys a favourable economic situation and is no longer in need of foreign investment at this time, hence the decision to implement the moratorium.
The Hungarian Residency Bond Program is one of the most popular residency by investment programs in Europe with over 4,500 Residency Government Bonds sold to date. This program offers permanent residence for non-EU nationals who invest EUR 300,000 in risk-free Special Hungarian Government Bonds for a period of five years, and pay a EUR 60,000 administrative and service fee. After the five-year lockout period, the full EUR 300,000 invested in bonds is refunded to the applicant. In the end, the program cost is only EUR 60,000, making Hungary the country with the cheapest immigration by investment program in Europe.
One notable difference between the Hungarian Residency Bond Program and other residency by investment programs is that there is no physical residence requirement imposed before or after obtaining permanent residency. Once permanent residency is obtained, it is valid for the lifetime of its holder. There is no need to renew or make another investment. In addition, an investor’s spouse, dependent children, as well as dependent parents can all be included in one application. That’s a lifelong permanent residency to one of the safest countries in Europe for only EUR 60,000. It’s what you would call a “no-brainer.”
Permanent residents can apply for citizenship after eight years of permanent residency. There are several requirements to meet for citizenship, including fluency in the Hungarian language as well as owning a property. However, many permanent residents choose to forego the citizenship application since their residency is permanent, and they can enjoy the same rights in Hungary as Hungarian citizens (less the right to vote). Permanent residents can live, work, and/or study anywhere in Hungary. They also have access to Hungary’s high quality healthcare services. In addition, as a member of the EU, Hungarian permanent residents receive the privilege of visa-free travel through Europe’s Schengen Region.
The Hungarian Residency Bond Program is not only the cheapest offer in Europe, it is also the fastest. Permanent residency cards can be obtained within one to two months from the application date. Those interested in a lifetime residence in a safe, stable, and economically flourishing country in Europe should contact our office without delay. Applications will only be accepted until March 31st, 2017. Take advantage of this opportunity before it’s too late.
For more information on the Hungarian Residency Bond Program, please click here.
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