The Hungarian Residency Bond program was suspended at the end of March, 2017. Now participants of the Investment Migration Forum suggested it might restart next year. Will it happen?
UPDATE November 2023: A new Hungarian investment residency program has just been announced to replace the old scheme. Click here to learn more.
The Investment Migration Forum is a 2-day event (with one extra academic day) organized yearly, where government officials, investment agencies, representatives of international organizations, and academics can discuss various issues related to investment migration. About 300 participants attend from 40 countries, so the event gives plenty of opportunity to give insight into the international trends and policies. Not only the lectures and panels are truly and informative, but you can also find out about current issues if you just talk to the participants during the events.
As it happens, a Hungarian journalist from Magyar Nemzet is also a speaker at the Forum, and he did just that: he asked several attendees what they think about the Hungarian residency program – which was also mentioned at some of the talks. Various investment agency leaders suggested that they expect the program to restart, maybe as early as next year. A Cypriot agent added that it is quite usual that an investment migration program gets suspended, and later is launched again when the political environment gets more favorable.
The president of the Chinese Well Trend United emphasized in his speech that the conditions of the Hungarian program are very good. In Chinese business big cash movements are frequent, and the Hungarian single investment, with the fast processing time and no need for additional investment makes the program ideal for Chinese businessmen opting for an European residency permit and easy access to the Schengen zone.
As it is, for now there is no official indication that the Hungarian Residency program will restart. However, if the experience of international investment immigration experts can be trusted, the story of the Hungarian Residency Bond Program is far from over just yet.
The Hungarian Residency Bond Program was launched in 2012, and the first applications were processed in 2014. Within the framework of the program, international businessmen got the opportunity to get permanent residency in Hungary for themselves and their family members, granting them visa-free travel in the Schengen zone, and easy access to the privileges enjoyed by residents of the European Union. The main condition of becoming eligible for the Hungarian PR is a single investment in Hungarian government bonds, to be returned in 5 years. The sum of the investment was first EUR 250K (with EUR 40K as processing fee), which was in 2015 increased to EUR 300K (with EUR 60K as processing fee). The program conditions got a revamp in July 2016, fixing earlier bugs in legislation, making the program even more attractive. The Hungarian Residency Bond program was suspended from 1 April, 2017. The law regulating it was not revoked, only the selling of bonds has stopped, which can be restarted easily if the Hungarian Parliament can come to an agreement.
If you are a foreign businessman looking for European residency, but cannot wait for the Hungarian Residency Bond Program to restart, you still have several options. For once, you can take advantage of various business opportunities in Hungary, which can make you eligible for a Hungarian resident permit and a Schengen visa, just like the residency bond program itself. Alternatively, you can check out the comprehensive database of investment residency programs around the world available at NewResidency.com, where you will surely find a program that suits your current situation.
If you are not sure where to start, just write a letter to info@helpers.hu, where our colleagues will certainly answer all your questions related to European investment migration.
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