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Why The Hungary Citizenship By Investment Program Is Well Regarded
What You Need To Know About Hungary Citizenship By Investment
Hungary is a member of the EU and the Schengen zone.
The country is among the thirty most visited country in the world. It has a rich and diverse European culture, universal healthcare and its location at the heart Europe is amazing.
The Hungary immigration investment program, which was established in 2012, offers a number of advantages.
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Benefits Of Temporary Residence
- Investment in government bonds
- Main applicants are exempted from physical residence
- Fast track application. Qualifying applicants will be granted temporary residence in less than 3 months, allowing them to travel freely in the Schengen zone
Benefits Of Permanent Residence
- Freedom of movement throughout the Schengen zone
- Applicants and family members are only required to make a single application process, with no mandatory trips to the country
- Family members below the age of 18 can be included in the application
Qualification For The Investment Program
The program doesn’t have any set criteria for foreign applicants with regards to management experience.
The applicant for the program will also schedule a meeting with Hungarian administration officers.
During the initial stages of the application, the Hungarian authorities will use the anti-money laundering and the standard know-your-clients procedures.
At this stage, the applicant will need to provide documents proving their source of income and personal net worth. You will then be eligible for a second passport.
Foreign applicants are required to have an address in the country for the temporary period.
The Hungary Citizenship Investment Process
For your application to be accepted, you will need to purchase Hungarian government bonds for €300,000 for a period of 5 years.
After the period, the invested amount will be returned to the investor without accumulated interest.
A Residency Bond Agent issued the bonds, which are then approved by Hungarian authorities.
The amount is then invested into government bonds that are assigned to the citizenship by investment program and cannot be used for trading in secondary market.
Once the security issue has been granted to the investor, the agent will provide the final declaration verifying that a treasury bond worth €300,000 will be purchased by a foreign investor within forty five days of his permanent residence being granted.
Applicants are also required to cover visa application and processing fees.
To reinforce on the investments, foreign investors may obtain a Letter of Bank Guarantee. Addition fees apply in this case.
You can use the help of an agent if you are not familiar with the laws of the country. However, you must ensure that the agent is registered in order to apply for Hungary citizenship.
If like Europe as a destination make sure you read: The Ultimate Guide To European Citizenship.