What 2017 promises to the unique Hungarian residency bond program
Hungarian residency by investment program is considered as one of the fastest programs in Europe to receive immediate permanent residency. Successfully functioning from 2012, the program may face changes soon. The parliament is still discussing the details, but 2017 may be the year that brings sharp corrections to one of the leading permanent residency programs in Schengen area.
Residency by investment program
The program provides an opportunity for non EU country nationals to acquire permanent resident status in Hungary through investing a 300 000 EUR in Special Hungarian Government Bonds. These bonds are far more safe option compared to real estate or business investments and are fully refundable after a minimum maturity period of 5 years. The main benefit of the program is that Hungary provides investors with a lifelong permanent residency in just a one-step. In addition, the same residency status is passed not just for investor but also for family members – dependent children and parents. The program does not require having Hungarian address or living in the country. Residency also provides a possibility to move freely within Schengen area.
Vague future of the program
Secure investment in exchange of lifelong permanent residency is the reason for a growing program popularity and constantly increasing number of issued residence permits. Few thousands of people apply for the program each year. However, recently Hungarian government initiated debates about the plans to stop selling residency bonds or to modify the program. According to the latest news, the government will submit a bill to the Parliament by the end of the year 2016 based on a re-evaluation of the country’s financing possibilities in light of the recent rating upgrades. The issue of residency bonds will be one of the questions in the bill – the future of the program will be reviewed. It will not be abolished in 2017, but for sure future can bring changes.
Thus, the Fastmigration encourages applying those who consider to participate in the program as soon as possible. With the help of our professionals, it will take just 2 to 3 months to get the lifelong permanent residency in the country belonging to European Union, NATO and Schengen area.