Brief information about Hungary

Since the beginning of this 2013 year, Hungary started to provide an opportunity for citizens of the third countries and their close relatives to obtain a residence permit if certain criteria are met, in the case of purchase of government bonds, and after six months - the possibility to be eligible to obtain the permanent residence.

Brief information about Hungary

Hungary joined the European Union in 2004, and on November 15, 2007 it entered the Schengen area. According to the Schengen Agreement between the European member countries of the agreement there is no control at the borders between the states, and border control on the outskirts of the Schengen area is carried out by a joint effort. Police, administrative and judicial authorities of the member countries of the agreement support each other in the framework of intergovernmental cooperation aimed at violations detection and prevention.

• The following states have signed the Schengen agreement, but at the moment do not bring it into use: Bulgaria, Great Britain, Cyprus, Ireland, Romania.
• The following countries joined the Schengen agreement, but are not members of the European Union: Norway, Switzerland, Iceland, Liechtenstein.

What are the opportunities to obtain Hungarian residence permit, and in the future the right to permanent residence in the country as well?

Hungarian Parliament – the legislative body of the country - made changes to the Act II of 2007 "On the entry and residence of the citizens of the third countries", and, more precisely, adopted an Act CCXX of 2012.

The Act CCXX of 2012 concerns the management and regulation of the process of issuing a residence permit, which is closely correlated with national economic interests. It clarifies that the term national economic interest is to be understood by the fact that a citizen of any third country or an economic organization in which he has a majority interest, should be in possession of securities with a nominal value of at least 300,000 Euro, and its minimum repayment period is five years her, and it is issued by the company, which was approved by Hungarian government.

Part of the text of the Act is contained in Annex No. 1.

Why the bonds are worth buying?

As part of the present program a candidate for permanent residence and his family members may be eligible for permanent residency in Hungary without a time limit, having carried out a one-time investment in 5-year government bonds. This in turn will ensure the smooth movement throughout the whole territory of the Schengen zone. A positive feature of the program is fast and simple administration in contrast to the overall application process.

Who is eligible to become a member of the program?

All foreign citizens and their immediate family members who meet the items of the requirements prescribed in the Act CCXX of 2012, and meet its conditions, namely:

• are holders of a valid travel document
• are the holders of the required permission to enter and further travel
• are not registered in the SIS alert system with ban to enter into the Schengen area and stay in the Schengen area
• have the necessary funds for the purchase of bonds in the amount of at least 300,000 Euro plus administrative costs.

Can politicians and civil servants take advantage of this program?

The program for receiving permanent residence in Hungary is designated for all categories of citizens of third countries who can attest to the purity of the origin of the invested funds and fees, regardless of their position, social status or political convictions.

Does a citizen of third country after receiving permanent residence in Hungary become liable to pay taxes as an investor in the EU?

Does a citizen of third country after receiving permanent residence in Hungary become liable to pay taxes as an investor in the EU?

Can a citizen of a third country with the Hungarian permanent residence visit the United States, Canada, Australia and the UK visa-free?

The rights to visa-free entry to the countries listed above have the citizens of Hungary only. Third-country citizens with Hungarian permanent residence are able to obtain visas to these countries under the simplified procedure in the diplomatic missions of these countries in Hungary.

What needs to be done?

You need to electronically send a registration form with personal information of the applicant and his immediate family to our company, and in the attachment send copies of travel documents and copies of documents certifying the family ties (marriage certificate, birth certificate), as well as attach a copy of the document confirming availability of finance for the purchase of bonds. In addition, we need a personal statement on where you want to begin the process.

* Note!

Period of travel documents validity can not be less than one year.

How is the process of purchase carried out?

After sending the registration form in electronic form, the necessary documents, certificate of support and the statement, if the proceedings will be carried out abroad, then:

• we send you by mail the contract of the company - the bond issuer, competent in a given country
• Once the contract is signed, you need to transfer the amount of the value of bonds and administrative expenses, or place a deposit, which is acceptable to bonds issuer
• upon payment, our company will send you in electronic form all documents by means of which in the designated for the proceedings Hungarian consulate you will have to personally (!) confirm the authenticity of required signatures and documents, as well as to carry out the registration of biometric data

* Note!

1. The presence of children under 12 years of age, when undergoing procedures through diplomatic missions is not binding.
2. In the case of processing of family, the marriage must be registered for at least 2 years.

• on the basis of certified documents and biometric data Hungarian Office of Immigration and Citizenship conducts the necessary verification within 8 days
• subject to successful verification the bonds buyer and his family are issued a residence permit, and at the request of the buyer it is possible to personally obtain papers in the territorially competent authority of our office or the document will be forwarded to the place of residence of the buyer by mail
• after obtaining of Hungarian residence permit the applicant has the right to move freely within the member countries of the European Union and its member states.

Is it possible to place funds on deposit accounts and what is the procedure of their withdrawal?

Investment and commissioning fees can be placed on deposit accounts of international financial institutions, certified for this by Hungarian state, the list of which an investor can read in the diplomatic missions of Hungary, or receive from our company. The funds will be withdrawn from the deposit account after the investor receives a residence permit of Hungary.

Can natural persons or legal entities carry out the purchase of bonds to obtain a permanent residence in Hungary by other natural persons?

There’s such an opportunity as all of the issued bonds are registered. When you apply for the purchase of government bonds the Embassy of Hungary assigns an ID number to each candidate. In carrying out payment for bonds purchase, in the notes to bank transaction it is only necessary to indicate that the transaction is carried out for bonds purchase for a certain identification number.

What is the procedure for the return of investment funds and fees in the event of refusal?

In the event of refusal the invested funds in full, as well as commission fees paid to the companies licensed by the Hungarian state will be returned within 30 calendar days of receipt of the refusal.

Is the residence registration in Hungary necessary when obtaining permanent residence?

Is the residence registration in Hungary necessary when obtaining permanent residence?

Is it possible to repay the Hungarian government bonds purchased for obtaining permanent residence in Hungary prior to the scheduled maturity date?

Early repayment of the bonds is not possible, as when they are issued, their maturity date is fixed at its lowest level of five years.

What is the money back guarantee?

The purchase of investment government bonds is available to issuing companies with territorial competence and the powers of the Economic and Information Office of the Hungarian Parliament. The bonds purchased in the name of the investor from the State debt control center are not subject to turnover, they can not be resold on the secondary market and therefore the issuing company with territorial competence can not issue a bond to an applicant, but on the pledge of the bond it may issue a company promissory note or company bond and transfer them to the investor.

Our company works only with bond issuing companies who issue bank guarantees to the applicants to repay corporate bonds, promissory notes. That is, the bond buyer who used the services of our company, except for civil law contracts to repay the minimum investment amount of 300.000 Euro additionally receives a bank guarantee from internationally recognized banks.