Explanation to § 28 of the 2007 law number 2 on entry and stay of third country nationals

Clarification to § 28 of the law of 2007 No. 2 on the entry and residence of third-country nationals

Explanation for applicants for permanent residence

Hungarian Government bonds for permanent residence are interest-free bonds, the issue of which is regulated by a separate decree of the Minister responsible for the state budget, with the nominal of 300.000 Euro, with maturity date of at least 5 years. Hungarian Government bonds for permanent residence are issued to at a cost lower than the nominal value, and after maturity date their nominal value it to be refunded. The difference between the nominal value and the value at issue insures the state profit provided by the law.

Hungarian Government bonds for permanent residence may be acquired only by a company which carries on business solely with Hungarian Government bonds for permanent residence, and is in contractual relationship for this activity with Államgazdaság Kezelő Központ Ltd.

The above-mentioned company in accordance with this issues bonds with at least 5- year maturity, which (not Hungarian Government bonds for permanent residence) the applicant must own at least for 5 years with the nominal value not less than 300.000 Euro. Hungarian law does not regulate single characteristics of these bonds (especially questions about credit or profit from these bonds). According to the laws of a particular state in order to conduct this business, the company must have the necessary licenses at its disposal.

The decision to permit conduct of this business in respect of the company makes the Parliamentary Council for Public Economics and Informatics. With the company that has received a permit to conduct this activity from the Parliamentary Council for Public Economics and Informatics ÁKK Zrt. shall conclude a contract for the issue Hungarian Government bonds for permanent residence for it (as to the issue by the state and the sale to the company). Államgazdaság Kezelő Központ Ltd. has the list of companies that have this decision at their disposal.

On issues related to permanent residence obtaining you may contact Bevándorlási és Állampolgársági Hivatal.

Information for entrepreneurs

Only a company that issues bonds accordingly for applicants for permanent residence has the right to buy Hungarian Government bonds for permanent residence. Parliamentary Council for Public Economics and Informatics makes a separate decision for each country. To obtain this permit, the entrepreneur must file the application directly to the Parliamentary Council for Public Economics and Informatics.