You may know that the Hungarian residency bond program is one of the most popular investment immigration programs in Europe. By the investment of EUR 300,000 for a period of 5 years you and your family can get permanent residency in Europe. There are similar programs in Europe but none of them can compete with the Hungarian program, especially if you consider the newest updates to it. Hungarian parliament has just passed the law with the following main changes beneficial for investors.
Till now permanent residency application was processed in two phases and took up to 9 months. Before that, a temporary resident card was issued. According to the new regulation which comes in force from 1 July 2016, the whole family will receive the permanent resident card within 30 days from the date of application. This makes the Hungarian program the fastest residency program compared to any of the residency and citizenship programs available in Europe.
The new law also lets adult children (above 18) and parents (above 60) be included in the permanent residency program. This makes the Hungarian program even more pleasant for families who are looking for a safe and quick immigration program. We are also expecting some changes regarding the citizenship option soon.
There is no minimum stay requirement for residency bond holders for becoming eligible for the permanent resident permit – there has never been. However, until now, a resident permit could be issued only based on a valid address. This rendered finding accommodation in Hungary essential, even if the applicant did not intend to spend much time in Hungary. From July on, residency bond holders will not be required to have a registered address in Hungary, which is already in accordance with the no minimum stay policy.
The Hungarian permanent residency gives you the right to live and work in Europe and travel visa free in Schengen countries. Hungary is one of the permanent members of the European Union and the Schengen convention.
The Hungarian permanent residency program is now more attractive than ever. Take advantage of the recent changes and apply today! For more information, please send an email to your expert helper Mo Shaban to mo@helpers.hu or give us a call on +36.1.317.8570.
For a comprehensive list of available European investment immigration programs, check out the comprehensive database at NewResidency.com.
UPDATE November 2023: A new Hungarian investment residency program has just been announced to replace the old scheme. Click here to learn more.
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