Hungarian Investment Developments – Updates on a new route to Settled Status in the EU
Late last year, the Hungarian government released new legislation which would provide investors with, not simply a route, but immediate permanent residency through investment in specific government stocks or bonds.
Although this program has taken a while to form, with slower progress than anticipated, the government have now issued a decree which will enable the final release of the bonds for investment – finally, a major obstacle eliminated.
This decree contains specifications which have been provided by the Hungarian ministry to outline securities, along with information for the institutions which will be designated to bring these bonds into circulation within the target countries – in other words, enabling you to invest from home.
About the Program
So how do you qualify? Through this fast track route, you are required to purchase €250K worth of government bonds of specially selected state-owned corporations, which can either be applied for by an individual non-EU national or by a company of which they are the majority shareholder.
What are the benefits?
There are a few key, outstanding benefits. The main advantage of this route of course is that it allows you to seek permanent residency immediately, waiving the normal requirement to reside in Hungary for three years continuously.
As an applicant there is also no need to be present for the application process itself in person, meaning that the agent or consultant you work with can help handle the entire application via a power of attorney, leaving you to tie up any lose ends abroad.
When can applications start being processed?
We have experienced a great deal of interest in this program already, and although applications are not quite ready to be processed due to requiring some more details from Parliament and the Immigration Office, we are happy and able to provide step-by-step guidelines to the program for any interested parties to review in the meantime. If you are interested in Hungarian Immigration please contact us at [email protected]