The Residency Bond Program Hungary
Hungary, the former eastern bloc country was a trendsetter even in the communist Soviet era, has not failed its reputation and the government has continued with it policies of making Hungarian economy a truly innovative phenomenon. The authorities had converted the economy of this country into a true mix of market socialism back in 1960. Owing to that trend, the Hungary was quick to convert its economy from a planned one into a market based economic system. Now the government of this central European nation has come up with yet another outstanding scheme called “The Residency Bond Program” to facilitate immigration of qualified foreign nationals into country on permanent basis.
Hungary Residency Program: Overview
The Hungarian Investment Immigration Program, “The Residency Bond Program” is one innovative scheme that makes all the difference and it is pulling in lot of attention of the willing investors across the globe. This distinctly only of its kind scheme was incorporated in 2012 and is laden with multiple advantages that other contemporary investment scheme of other global locations may not be able to offer.
Some of the scope and salient features of the “Hungarian Residency Bond Program” are
- The policy is intended to attract willing investors of countries other than nationals of European Union, i.e. the authorities would prioritize selection of the investors from countries other than EU.
- The government is offering permanent residential permit to the willing investing individuals in lieu of infusion of funds in Special Hungarian Government Bonds that have a minimum 5-year lock in period. The investment does not yield any interest.
- After the lock in period, the investment can be liquidated and the investors would be able to retain their permanent residential status in the country.
- The applicants gaining entry into the country would have open access to Schengen treaty zone by virtue of Hungary being a fulltime signatory of the Schengen treaty.
- The new entrants would also have unimpeded access to vast market of EU.
- The spouse and children under the age of 18 years would be included in the application without any extra charges.
- This program has NO specific stipulations connected to Language, Age, Work experience and requirement for furnishing/substantiating proofs of source of money or any other tax return or auditor reports
- In addition, procurement of landed property or establishment of companies is not mandatory under the Hungarian Investment Immigration Program.
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