- About Hungary
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The program is currently closed for accepting fresh application.
Hungary, the former eastern bloc country was a trendsetter even in the communist Soviet era, has not failed its reputation and the government has continued with it policies of making Hungarian economy a truly innovative phenomenon. The authorities had converted the economy of this country into a true mix of market socialism back in 1960. Owing to that trend, the Hungary was quick to convert its economy from a planned one into a market based economic system. Now the government of this central European nation has come up with yet another outstanding scheme called “The Residency Bond Program” to facilitate immigration of qualified foreign nationals into country on permanent basis.
Hungary Residency Program: Overview
The Hungarian Investment Immigration Program, “The Residency Bond Program” is one innovative scheme that makes all the difference and it is pulling in lot of attention of the willing investors across the globe. This distinctly only of its kind scheme was incorporated in 2012 and is laden with multiple advantages that other contemporary investment scheme of other global locations may not be able to offer.
Some of the scope and salient features of the “Hungarian Residency Bond Program” are
- The policy is intended to attract willing investors of countries other than nationals of European Union, i.e. the authorities would prioritize selection of the investors from countries other than EU.
- The government is offering permanent residential permit to the willing investing individuals in lieu of infusion of funds in Special Hungarian Government Bonds that have a minimum 5-year lock in period. The investment does not yield any interest.
- After the lock in period, the investment can be liquidated and the investors would be able to retain their permanent residential status in the country.
- The applicants gaining entry into the country would have open access to Schengen treaty zone by virtue of Hungary being a fulltime signatory of the Schengen treaty.
- The new entrants would also have unimpeded access to vast market of EU.
- The spouse and children under the age of 18 years would be included in the application without any extra charges.
- This program has NO specific stipulations connected to Language, Age, Work experience and requirement for furnishing/substantiating proofs of source of money or any other tax return or auditor reports
- In addition, procurement of landed property or establishment of companies is not mandatory under the Hungarian Investment Immigration Program.
Hungary Residency Program: Progress
The popularity of this policy has risen manifold and in the period from June 2013 till August 2014interested immigrant investors have procured over 1100 Residency Government Bonds. The initial success has encouraged the Hungarian authorities to raise the threshold non-refundable investment by Euro 60,000 from January 2015.
Why Hungarian “The Residency Bond Program”?
Although the Hungarian government guarantees the scheme, there are other features that talk tall about the long-term viability of investing in this scheme. The key elements that guarantee success of this scheme include:
- Reaps maximum benefits for each penny invested
- Comparably cheaper way of gaining entry into EU*, i.e. Euro 60,000. Please note that deposit of Euro 300,000 is refunded in full after lock-in period of 5 years. These investments become applicable from January, 2015
- Guaranteed premature refund in case the application for the permanent residence is rejected
- Applicants enjoy unprecedented freedom of deciding whether they would like to land in the country or not with only exception of maintaining a Hungarian residential address while filing for permanent resident visa
- After the grant of permanent residence permit, visa holders are exempt from fulfilling the requirement of maintaining residence in the country. After being granted the permanent residency, there is no residency obligation and no landing requirement. Applicant can decided whether or not they would like to reside permanently in Hungary.
- Allows the children of applicants to take benefits of Hungary’s public education system
- The program permits the visa holders to buy landed properties, establish business or even take up a job in the country
* Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.
- Stable economy with clear intentions of government to facilitate business and investments.
- Hungary can prove to be a launch pad for business as this country is member of European Union, which allows the business oriented people to access a large market segment constituting of about 250 million people within a 1000km radius and the EU common market that comprises of more than 500 million people.
- Being at the heart of Europe and having a well developed infrastructure like business ready industrial sites, offices and science parks makes Hungary a best location for manufacturing, services and logistics business.
- This eastern European country is the best deal when it comes to entrepreneurs and investors intending to establish and develop business enterprise to foray into European markets.
- Literate, efficient training ready and cheap labor force
- Government offers a plethora of sops to investors (cash subsidy, tax allowance)
- Being a full time signatory of Schengen treaty allows the PR visa holders to travel across the Schengen zone without needing special visa.
- Visa free travel Freedom within European Union (EU) member nations* without visa
- Make application for Citizenship after 8 years of being permanent Resident.
- Get a right 28 EU countries right to live and work for the family
- Children can study in Universities throughout Europe at Subsidized and pay highly reduced tuition fee as a EU resident
- Avoid EU import duties on goods and services
- Higher standard of equality and human rights
- Participation in foreign social security programs
- Participation in national health programs
- Access to the largest trading block in the world
- Enhance freedom for you and your family
- Children can stay in Europe after finishing their studies
- Powerful tool for international tax planning
- Lowest tax regime in Europe allows you to keep your wealth – 10%
- Lowest business running costs in Europe
- Low labor costs
- Highly educated work force
- Member of NATO
- Secure banking and financial sector
- 2-3 hours from all main EU airport hubs
- Links Europe and Asia
- Stunning country and friendly people
The investors need funds in tune of Euro 300,000 for investment plus the Euro 60,000 as non-refundable administrative charges. These investments become applicable from January 2015
Hungarian “The Residency Bond Program” application process is easily classified in eight phases. The process is completed in less than 12 months.
|DAY 0 (Contacting and Preparing):
||Decision to park money in this scheme and contacting us and hiring our services
||Collaborate with us on collecting the required data and documents
||Approval for the investment is received and the principal applicant remits the investment funds to the investment broker.
||Pay EUR 300,000 investment and EUR 60,000 administrative fee
||The investment broker issues the Bonds to the applicants
||The principal applicants and his kin (to be included in the application) visit Hungarian consulate and lodge requests for temporary residence visa
||The Hungarian Consulate disburses the provisional residence visa cards to applicants
||Investment broker procures Investor Residency Bonds.
||The applicants file requests for PR visa at the Hungarian consulate
||Collection of permanent residence Visa (subject to approval)
|End of YEAR 5
||Redemption of bonds worth EUR 300,000
||Permanent Resident status
Note: All mentioned Investment figures, non-refundable administrative cists, processing delays are subject to change without notice and are not under the control of the advisor/broker/consultant.