Hungary is a land-locked country and located in Central Europe. It has a very high Human Development Index (HDI) even as it is one of the most popular tourist destinations in Europe. A rough estimate says more than 10 million tourists visit the country every year.
The nation is most beneficial for those who want to save more and spend less. As compared to other European countries, the republic has a low cost of living that means migrants enjoy a strong purchasing power which is a unique feature in itself.
The country has some of the rare sights to be believed to be just true just like its Investment Bond Programme. With the aim of attracting foreign investors and meeting the growing demand of third country nationals (Non European Union nationals), the Programme was first introduced in the late 2012. But, it was only in 2013 that it became fully operational.
The programme provides an easy opportunity to the Non-European nationals to become the Permanent Residents of the country, by simply investing in the Special Hungarian Government Bonds issued by the Government Debt Management Agency.
For those prospective immigrants, who are thinking about Hungary Immigration, ‘Investment Bond Programme’ can be easy solution, only if you have EUR 300,000 to buy especially issued ‘residency’ bonds guaranteed by the Hungarian government with a maximum maturity period of five years. After five years, your invested amount will be returned without any interests, and you will be allowed to bring along your family members and children below 18 years of age along with you.
As per the Hungarian laws, the ‘residency’ bonds should be purchased by companies (Residency Bonds Agents) duly approved by the Economic and Information Technology Committee within the Hungarian Parliament. The programme does not have a finance option, and each applicant is responsible for its visa and processing fee.
Under the programme, you are allowed to join the Hungarian workforce without obtaining a separate work visa. The programme also gives you the liberty to travel to the Schengen countries for maximum 90 in every six months without obtaining any additional visa. And lastly, you may apply for the Hungarian passport and citizenship once you have successfully lived in the nation for at least eight years.
Work or employment in Hungary is allowed under this programme without a separate work permit. As mentioned before, the Hungarian PR allows permanent residents to travel freely within the 27 other Schengen countries and stay without a visa in these countries for up to 90 days every six months.
Why Hungary Immigration and its Investment Bond Programme?
- Lifelong opportunity to live and work in the nation.
- An easy access to healthcare facilities not only in Hungary but whole of the European Union (EU).
- Children are entitled to access the state education.
- Low cost of living.
- Free to travel to the whole of EU Union and Schengen countries.
The programme is fast gaining popularity and the number of PR issued is constantly rising. In the first year of the programme, only 430 bonds were purchased. The number rose to 2210 in 2014, and as per the reports, by February 2015 nearly 2656 government bonds have been sold. It is expected the number will rise in the coming months.