Hungarian Residency Bond Program

The possibility of granting permanent residency for investors and support their immigration to Hungary based on the interest of Hungarian economy has been discussed for a few years in legislation. The Hungarian residency bond program officially started in 2012, but the clarification of all details, roles and participants took some time. Our company was the first to process an application in 2014. Now we are here to assist applicants in investing EUR 300,000 into Hungarian government bonds for five years, in return of which they receive Hungarian permanent residency.

The process for obtaining a permanent resident permit (or citizenship) in Hungary starts with a simple discussion: you may contact us at any of the above contact points. The more you tell us about your plans and preferences regarding your immigration to Europe, the more we can do to pave the road ahead of you. Then we will ask for the personal data of you and your family (e.g. full name, passport copy, date and place of birth, etc.), as the government will want to run a background check on all the applicants. The process takes only a short time: if everything goes fine, you will receive an approval within 24 hours.

In the next step, we prepare a contract between you and the investment agency of the government. When everything is prepared, you will have to sign the contract, either by travelling to Hungary or by sending us the signed contract via courier. You will then have to transfer the EUR 300,000 investment sum and the EUR 60,000 government processing fee. The processing fee is set by the government, and covers the administrative expenses of the investment itself, but not the expenses related to the relocation, such as travel to Hungary, accommodation, or insurance.

After the money transfer, the investment agency provides a certificate (“certificate of subscription”), attesting that the money you intend to invest into the Hungarian residency bonds has been cleared, therefore you are eligible for the temporary resident permit. Then a lawyer assigned by the Hungarian government and authorized by you will set an appointment for you to visit a Hungarian embassy of your choice or the immigration office in Hungary to register your biometrical data. Within 10 days, you will receive a temporary resident permit, which will already allow you to travel freely within the Schengen visa zone in Europe.

After 6 months, you can convert your temporary resident permit into a permanent resident permit. For this, you will have to prove that you have accommodation in Hungary (usually this means that you have to rent or buy an apartment or a house) – naturally, our company can assist you with this. The processing time of the permanent resident permit application is 3 months. This means that you may receive your Hungarian permanent resident permit ca. 9-10 months after the initial money transfer.

In the following years, you can freely enjoy the advantages of a Hungarian, that is, a European permanent resident permit, e.g. you can travel freely in the Schengen visa zone in Europe, form companies or do business – we can assist you in all your ventures. 5 years after the initial money transfer, when the investment period ends, you may decide whether you want to invest the EUR 300,000 again, for another 5 years, or whether you want to get the money back. Whatever you do, the permanent resident permit will not be withdrawn.

With your permanent resident permit, you can also enter employment if you wish to. In Hungary, this poses no difficulties, and in other European countries the application procedure will be a lot easier than for a non-EU resident (in most of the member states you won’t even need a work permit). However, if you plan on filing for Hungarian citizenship, according to current law you will need to prove that you actually reside in Hungary for the last 3 years before your application, and having a work permit elsewhere might hinder your application.

After 5 years, the permanent resident permit has to be renewed. However, this only means a refreshment of your data, just like when you renew your driving licence. You may continue to use your permanent resident permit the way before, for free travel or for any other activities in Hungary or Europe. At the moment, it seems you can apply for Hungarian citizenship only after another 3 years, so 8 years after you have made the first big step towards immigration to Europe with your investment. However, an expedited citizenship option for residency bond holders will most likely become available later in 2015.

Accordingly, investment into residency bonds is the first step towards Hungarian citizenship – this is why the program is sometimes also called Hungarian investment citizenship program. Of course, there is no obligation to opt for citizenship: you may continue to live, travel and work in Hungary, or anywhere in the Schengen visa zone and the European Union with only your Hungarian permanent resident permit.

While this process might seem to be lengthy, with our expertise on your side you do not have to worry. We will always be right beside you, guiding your steps from the first contact through negotiation with the investment agency and over the residency applications until you receive your Hungarian permanent resident permit or your Hungarian citizenship, and even after that – so you will always know where to go, what to do, and when to do it. Our ten years of experience in the field of business immigration to Hungary and Europe is guarantee for your success. Just contact us with your request, and we will be delighted to guide you on your way to Europe!