Immigration to Hungary – Permanent Residency through Investment
- Published on Wednesday, 15 May 2013 17:40
- Mike Hartman
- 14 Comments
The Step-by-Step Guidelines for Immigration in Hungary
A new route to EU Permanent Residency through investment: this is a program which many foreign investors desiring to settle in the EU have been monitoring since December 2012, for the key benefit that it enables you to invest €250K into government bonds and become a Permanent Resident of Hungary immediately.
Immigration service providers and their prospective clients are still waiting for the Hungarian government to release the bonds for investment; however we have been speaking to many interested individuals and providing them with as much information as possible, so that when the bonds are available, they are ready to apply.
Step 1 – Applying for a preliminary and following this, a permanent permit
This must be either applied for from your country of residence, or if you are already in Hungary to the relevant regional authority. The application will include a power of attorney provided by a legal representative, proving that you or your company has invested €250K into government bonds for at least five years, two passport photos and a passport with an expiration date at a minimum of 3 months later than the permit expiry.
Step 2 – Time frame for evaluating the application of immigration in Hungary
If an application is approved, this will take no more than 8 days to process from receipt.
Step 3 – Receiving the permanent residence permit
With an approved application for a permanent residence permit, the directorate will issue a preliminary permit that enables the applicant to travel to Hungary at any time within six months and pick up their permanent resident permit in person.
The preliminary permit authorizes a one-time entry and a stay of up to 30 days in the territory of Hungary for the purpose of receiving the permanent residence permit. Once in possession of this, the third-country national may enter the Schengen Area, which includes Hungary, and may receive their residence permit document at the Budapest and Pest County Regional Directorate.
The applicant may also request that the preliminary permit be mailed to a legal representative or to a foreign representative office.
National Interest for Hungary
Though this is a fantastic opportunity for many non-EU nationals, why have Hungary brought out this new legislation? This category is based on the fact that the investor from overseas represents a matter of national interest for Hungary, which means proving this in the following ways:
* A credible document certifying that you, or a company you hold a majority share in, has invested the €250K into government stocks or bonds for a duration of at least five years
* A document issued by the licensed agent handling your application and the investment
By providing this proof, the government will then assume that you possess the funds for healthcare, livelihood and to support any family moving with you.
What about my family?
The entry and stay of family members
The spouse and minor children of third-country nationals applying for permanent residency in Hungary in the ‘national interest’ category are also entitled to submit an application for a residence permit for the purpose of family unification simultaneously with the main applicant.
Register your Interest for immigration in Hungary
Now is the time to tell us if you are interested in obtaining Hungarian Permanent Residency through investment, along with many other individuals and families who are considering this attractive opportunity. Contact us at [email protected]