Hungarian Residency Bond Program suspended from April 2017
Last chance to take advantage of Europe’s most affordable Investment Immigration Program before March 31, 2017.
According to a statement released by the Government Debt Management Agency (the official government body in charge of the program), due to the favorable financial situation of the country, the issuing of the Hungarian Residency Bonds will soon be placed on moratorium. Consequently, the Hungarian Immigration Office will only accept Residency Bond applications submitted before March 31st, 2017.
About the Hungarian Investment Immigration Program
The program was introduced in 2012, in order to bring in additional financing to the country. In the beginning each bond was sold at EUR 250,000 and the processing fee was EUR 40,000. In 2015 the investment amount and the processing fee were raised to EUR 300,000 EUR and EUR 60,000 – we have covered the changes in our blog article.
The next significant modification followed in June 2016: according to the new regulations, applicants no longer need to secure an address in Hungary and – under certain circumstances – children above 18 and dependent parents can also be included in the program. The procedure of getting the permanent residency was also simplified. Applicants can now immediately apply for the PR card and get it in 30 days, as opposed to the previous system, where investors and their family members had to hold a temporary residence permit for 6 months before they could apply for the PR.
Since the program’s launch, over 4,000 bonds were sold, therefore thousands of investors and family members secured their permanent residency in the Schengen zone.
Apply while you still can!
You can apply for the program for only 2,5 months more. As the number of applicants is expected to reach record amounts, we recommend you to make a move in February 2017 to make sure applications are smoothly processed.
Every investor who meets the deadline will have the same benefits as before: lifetime permanent residency for the family (spouse and minor children) for only EUR 60,000 processing fee, while the investment is returned in 5 years. With the Hungarian PR you can enjoy visa-free travel into and within the Schengen zone without minimum stay in Hungary.
Call the program specialist Mo Shaban today to get more information on how to proceed: +3670 410 8447, or write to him on mo@helpers.hu. (You can also reach him via our office phone number +36 1 3178570, or meet him at our office: Hungary 1027, Budapest Kapás utca 11-15, open Monday – Friday 9 a.m. – 5 p.m.)
What if I miss the deadline?
The law regulating Hungarian Investment immigration is not repealed, only the sale of residency bonds will be suspended as of 1 April, 2017 until further notice. This leaves the possibility for restarting the program sometime in the future – similarly to the Canadian program, which is also suspended from time to time.
Other opportunities for Hungarian Investment Immigration
Although the Residency Bond Program is soon to be paused, you will still be able to get Hungarian residency and Schengen visa. You can either set up a Hungarian company and apply for residency based on your activities, or you can invest in Hungarian real estate. If your activities require your presence in Hungary, you will be granted the residence permit. You can also bring your spouse and underage children. However, the procedure is slightly more complex.
If you have been considering relocating to Hungary and/or Europe with your family, make your move now, while you can take advantage of the simplified procedure.
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