Steps to set up residence in Hungary

Abhinav will guide you in the step by step procedure of setting up residency and business in Hungary. Here is the procedure which we will guide you in detail.

Initial Investment:

You will need Euro 300,000 for investment plus the Euro 60,000 as non-refundable administrative charges for the Residency Bond Program. These investments become applicable from January 2015.

Hungarian “The Residency Bond Program” application process is easily classified in eight phases. The process is completed in less than 12 months.

 

Phase 1 : PREPARATION
DAY 0 (Contacting and Preparing): Decision to invest money in “The Residency Bond Program” and contacting Abhinav for guidance and consultancy.
DAY 1 We will collaborate and assist you to collect the required data and documents
Phase 2: APPROVAL AND INVESTMENT
DAY 7 Approval for the investment is received and the applicant will remit the investment funds to the investment broker.
Pay EUR 300,000 investment and EUR 60,000 administrative fee
Phase 3: BONDS ARE ISSUED
The investment broker issues the Bonds to the applicants
Phase 4: VISIT HUNGARIAN CONSULATE FOR VISA
Day 21 The principal applicants and his kin (to be included in the application) visit Hungarian consulate and lodge requests for temporary residence visa
Phase 5 : OBTAINING PROVISIONAL RESIDENCE VISA CARDS
Day 28 The Hungarian Consulate disburses the provisional residence visa cards to applicants
Phase 6: PROCURING RESIDENCY BONDS
Investment broker procures Investor Residency Bonds.
Phase 7: APPLYING FOR PERMANENT RESIDENCY VISA
Month 7 The applicants file requests for PR visa at the Hungarian consulate
Phase 8: PERMANENT RESIDENCY VISA OBTAINED
Month 8 Collection of permanent residence Visa (subject to approval)
End of YEAR 5 Redemption of bonds worth EUR 250,000
LIFELONG Permanent Resident status

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