Permanent residency renewal for Hungarian Residency Bond clients

When does your permanent residency expire?

The Hungarian Residency Bond Program was canceled back in 2017. The program promised 5-year permanent residency in Hungary in exchange for a 5-year investment in designated bonds. Upon expiry, the permit was available for renewal for another 5 years. Now the second 5-year period is close to its end for many, which means you will need to renew your permanent residence permit again.

Renew your residence permit in time

Since last time you renewed your permanent residence permit, there has been some changes to Hungarian immigration law. Instead of your National Permanent Residency, you will receive a National Residence Card, which is the current option for permanent residency.

In fact, currently there are two types of permanent residency, the National Residence Card and the EU Residence Card. It is the first one, however, which is considered the successor of your original permit, while the latter is treated as an entirely different permit. This is important because recently a cultural exam has been introduced for new permanent residence permit applications. The exam will not apply to you if you simply renew your existing residence permit, but it would if you wanted the EU Residence Card instead. The EU Residence Card would not offer any benefits compared to your permanent residency, however, so there is no reason for you to apply for that.

What next?

Check the expiry date on your National Permanent Residency Card, and make sure to apply for its renewal at least a month before it expires. You have nothing else to do, and you will be issued a National Residence Card. You will also retain the perks that applied to you so far, and gain access to even more.

• 10-year validity: your new permit will be valid for 10 years instead of just 5. Validity does not depend on the expiry of your passport either, just make sure to notify the Immigration Office when you get a new passport.
• Visa-free access to the Schengen zone: as a resident of Hungary, you may enter and leave the Schengen zone at will. You may stay for up to 90 days in any member state without additional paperwork.
• No cultural exam: since you are not applying for a new permanent residence permit but renewing your existing one, you do not have to take the cultural exam that is required of new applicants.
• No minimum stay: you are not required to stay in Hungary in order to retain your permanent residency.
• No local address required: since there is no minimum stay requirement, you are not required to maintain a local permanent address either.
• Option for citizenship: if you do have a local permanent address with a plastic address card, you might already be eligible for Hungarian citizenship (available after 8 years with an address card).

Permanent residency renewal with Helpers

Helpers was already active during the Hungarian Residency Bond Program between 2013 and 2017. We helped investors and their family members obtain permanent residency in the program, and later we were here when the first residency renewal was due. Now we are still here, eager to assist those looking into their second renewal.

Helpers has 20 years of experience supporting international clients in matters of business setup, investment, and residency application in Hungary. If you need assistance with renewing the permanent residency you obtained through the Hungarian Residency Bond Program, feel free to contact us now.