What is the Hungarian Residency Bond Scheme?
It is basically a business plan run by the Government of Hungary. It provides the cherished Permanent Residency (PR) status under preferential conditions for those nationals of the non-European Union (EU)countries who have not less than EUR 360,000,for the object of investment, even as EUR 300,000 are given back to the investor, post a period of 5 years.
Has the Hungarian Government sanctioned the Residency Bond Programme?
Yes, it has done so! A law--duly passed on December 11,2012 and amended in 2014 &2016--provides PR in the country to those nationals of the non-EU countries who are ready to make an investment in administration’s residency bonds.
Is citizenship promised by the Hungarian Investment Immigration Programme?
It is a fact that the scheme is an amazing tool for those who are interested to make an investment in the country, to rapidly acquire the nation’s PR. The plan offers a fast track to the position of PR, in the process, circumventing numerous normal waiting periods stuck between every step. Still, no preferential treatment is offered to those investors who want to obtain citizenship. However, in case you wish to shift to the country, and possess the necessary funds to invest, it may be a first-rate option for you.
What is the topmost advantage of the scheme?
You and your family (and this includes the dependent kids &also your parents) acquire the PR rights in the country--a member country of the EU. It denotes that it will be possible for you all to move, without any restrictions whatsoever, inside the Schengen nations in Europe (Schengen Visa).
What rights greet me, post I get a Permanent Residence Permit in Hungary?
PR in Hungary gives every right &benefit that greet the nation’s citizens but with some noteworthy exceptions, like not being qualified to cast your votes in the national government elections, or have the nation’s passport. The PR holders can reside, stay and do a job in the country for an unlimited time-frame. The holders are permitted to attend the country’s public schools. As a permanent residence permit holder, you also get to enter the country, minus a visa. You can also move and stay inside the Schengen zone.
Does the scheme enjoy widespread popularity?
The scheme is tremendously popular: the figure of the residence permits given jumps immensely. Hitherto, 4247-plus Residency Government Bonds have been bought even while the concerned Hungarian officials hope the figure will further improve in the future.
Is it possible to include my family members in the scheme?
Yes, it is possible! It is possible to include your significant other and your dependent kids and also the dependent parents on the basis of your investment. The same denotes that you and your family may submit the petitions all together though you have to present the official papers/certificates proving your family connections. Your kids, who are not dependent on you, and other family members can also take part in the scheme, but on the basis of their separate independent investments.
Is it necessary to have a local address when I present an application?
From July 1, 2016 onwards, there is not any need of at all any Hungarian address when you submit an application, for the permanent resident standing in the country.
Is the programme expensive, what is its exact cost?
The scheme is not costly even while the total amount of money for getting a Permanent Residence Permit via the plan is just EUR 360,000. What’s more: EUR 300,000 will be given back to you, post 5 years. The non-refundable EUR 60,000 is the real price of the scheme. The same comprises every governmental and service costs linked with the plan. It signifies you, along with your family, will attain a lifelong residence permit, a 100% safe passage to the European continent, for just EUR 60,000.
Are there any unseen expenses?
No! EUR 360,000 includes each &everything for a family with four members. In case your family--comprising your other half, dependent parents and kids--is bigger than four, you have to just shell-out the overhead expenses.
Will I receive back my EUR 300,000 Investment?
Yes, you will! The EUR 300,000 will be duly credited in 5-year maturity government residency bonds, and in the wake of maturity, you will get it back.
Will I lose the power of a Permanent Residence Permit for lifetime, in case I receive EUR 300,000, post 5 years?
No need to worry as Permanent Residence Permit is certainly permanent. Though post 5 years your investment will come back to you, you and your family may retain the prized permit.