Hungarian Government Bond Program Price Going Up
Purchasing Hungarian government bonds, or “residency bonds” is a comfortable and cost-effective way for non-European businessmen to set their foot in Europe, since the permanent resident permit obtained with the investment opens the gate to the EU and Schengen visa zone. The Hungarian one is the best priced such package in Europe – and would still be if the investment sum would be raised to EUR 300,000, as was recently proposed in parliament.
The Government Bond Program
Currently, in the framework of the Hungarian residency bond program, businessmen may invest EUR 250,000 into government bonds in order to secure a permanent resident permit for themselves and their family members (spouse and two underage children). The investment period is five years, at the end of which the EUR 250,000 is fully returned, so the cost of the program is only EUR 40,000, the government processing fee, which covers the work of the investment agency, the lawyers, and all the administration necessary for obtaining the permits. The permanent resident permit can in due course be converted into Hungarian citizenship – that’s why the program is sometimes also referred to Hungarian investment citizenship program.
Increase in face value proposed
Since the start of the program in 2012, more than 700 bond packages have been sold, which shows the popularity of the offer. This encouraged Antal Rogán, MP of FIDESZ, the currently governing party, to submit a proposal to parliament about a possible raise of the face value of the residency bonds to EUR 300,000, which would still leave the Hungarian residency bond package the most cost-effective program in Europe.
Although it is not yet official, there are also rumours that the government processing fee will also be raised to EUR 60,000. In fact, only this raise would mean an increase, since the EUR 300K would still be returned at the end of the investment period.
So this way the new setup would be:
Investment sum: EUR 300,000 (refundable after 5 years)
Government processing fee: EUR 60,000
total: EUR 360,000
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