Of late, Hungary Immigration through Hungary Investor Residency Bond Programme has become something to look forward to for many with the reason being the Central European Nation is regarded a perfect place, thanks to its exciting & multicultural society, universal healthcare arrangement, and membership in the Schengen Zone and the European Union (EU) and a host of other such big groupings.
It is possible to obtain the prized citizenship of the Unitary Parliamentary Republic, via the Hungarian Residency and Citizenship Bond Programme, which though was officially started during the close of 2012, it actually begun its operations only during the middle of 2013. The Hungarian Government launched the widely used plan as it was keen to adopt a modern approach with a view to draw good investments from abroad.
Under the Hungary Investor Residency Bond Programme, it is mandatory for the investors to obtain “special” residency bonds. These are given and assured by the administration and have a maturity period of not less than 5 years. With a view for the investors and their families to make the cut and be qualified, to present residence permit petitions under the preferential treatment, it is compulsory that the value of the subscribed bonds is not less than EUR 300,000.
According to the present Hungarian immigration rules, it is required to get these bonds solely from companies’ “Residency Bond Agents” who are armed with sanction from the Economic and Information Technology Committee inside the Parliament of Hungary.
Who are qualified?
It is possible to include these family members in a petition, namely, main candidate, partner, dependent kids, and dependent parents.
Qualifications & Conditions for Investment
No special qualifications are required for the foreign investors in respect to minimum personal net worth or supervision experience. However, the Hungarian administration officers have the authority to fix a modest interview meeting with the aspirant, and the procedure for it could be casually applied.
Pathway for Citizenship
As per the present law, citizenship is given post 8 years of the PR standing, in the wake of successfully sailing through the rudimentary constitutional studies in the local Hungarian language. Still, some changes are likely in the law and this could cut down the residency obligation, post the PR position to 5 in place of 8 years.
Procedure for Investment
In order to fulfill the eligibility requirements of the Hungary Investor Residency Bond Programme, a Foreign Direct Investment (FDI) of EUR 300,000 is needed in the acquisition of the special Hungarian bonds. In the aftermath of concluding the maturity time-frame of 5 years, the original capital investment is given back to the investor, not including any ensued interest or profit. The government bonds are tailor-made particularly for this scheme even as trading them either in the secondary or in the public market is not allowed.
The operation is subject to a Subscription Agreement with the nominated enterprise, which has the necessary registration for the specific geographic area of the primary aspirant.
As per a new report on the subject–courtesy the latest amendments implemented in the Hungarian immigration law–the procedure has now been decreased to just one step instead of two. While the step entailing the temporary standing has now been done away with, under the new arrangement PR is proffered straight to the aspirants and their families, inside just one month.