Hungary Residency Permit for Business Investors
The Unitary Parliamentary Republic of Hungary is an extensively visited, culturally prosperous, and well-located nation in Europe. This thriving hub is strategically placed almost in the heart of Central Europe.
What makes Hungary so hot?
It is a key member of the European Union (EU) and the Schengen zone, and also one of the 30 most-visited hotspots in the world. Yes, it’s true! The nation boasts of an amazingly diverse culture (from cuisine to music and movies to literature) universal healthcare, and is dreamily situated. Brought into existence a few years back, in 2012, the Hungary Investor Residency Bond Programme gives the aspirants numerous benefits.
Investor Residency Bond Programme
As per some experts on the issue, it is the best Permanent Residency (PR) plan inside the Schengen nations, in terms of price, international movement, and the overall quality of life.
The scheme in question grew from anamalgamation of established practices across the globe even as it is duly addressed to those business persons who lack residency or citizenship of the EU but cherish the liberty of unchained movement.
The investors obtain special “residency” bonds given and 100% assured by the administration. In the wake of the successful conclusion of the compulsory 5-year time-frame, the investment money is given back to the investor (without any interests though).
The widely used plan is tailor-made for the businessmen investors and also those who are dependents on them, and who in case of a requirement want to secure their future in anothernation of residence.
With a view to pocket the prized Permanent Residency (PR) in the nation,you will have to make an investment of EUR 300,000 into government bonds,for a period of five years, and minus interest paid. The much sought after citizenship of the country is possible in the wake of 8 years,in case you can prove a reasonably good knowledge of the Hungarian language.
Hungary Residency Permit by Investment Requirements
With a view to make the cut for the plan, it is mandatory that the interested investors do not hail from Europe, have a 100% unblemished criminal background, and are not less than 18 years old. Significantly, it is possible to contain one’s entire family—comprising self, significant other, and minor kids—in one single petition.
Apart from these basic requirements, it is compulsory that the candidates invest a minimum of EIR 300,000 in bonds of the Hungarian administration for a time-frame of five years. In actual fact, this is achieved by contributing to a share of the Hungary Special State Debt Fund, whichafterwards invests in the administration bonds, on the investor’s behalf. While, as mentioned before, no interest is given on the deposits, the funds are given back post a time-frame of five years.
It is possible for the investors to make the entire investment with their own funds, or they can finance their investment,via either a bank or establishment with fees of EUR 135,000 or EUR 150,000, correspondingly. The aspirants do not have to furnish extensive documentation as to the source of funds they are using for the investment purpose.
The endorsed candidates will be given PR legally valid for five years even while the return of the investment funds, in the wake of five years, will have no effects whatsoever on the investor’s residence standing.
Will I assuredly receive a Hungary Residence Permit in Hungary in case I apply?
It is possible for you to submit an application for the Hungary Residency Bond Programme and obtain your residence permit provided you:
- Have the citizenship of a non-EU nation and possess a legally valid passport.
- Are in a position to invest EUR 360,000 either in your capacity as a private individual, or through a company in which you happen to be a majority shareholder (EUR 300,000 is 100% refundable post a period of 5 years).
- Are in a position to sail through a basic national security check by the Hungarian officials.
- Are in a position to offer the needed papers/certificates.
Significantly, the Hungarian administration has removed an important provision in its Residency Bond Plan. Earlier, those outsiders,who bought a bond,had to stay in the country for a period of six months,prior to getting their Permanent Residency Card. Now that provision has been done away with even while anybody who buys (or has already bought) a bond is presently given instantPR in the country.