Blog

2015. March 01.

Frequently Asked Questions regarding the Hungarian Residency Bond Program


  1. As regards the territory of the Hungarian Residency Bond Program, to which countries do you provide assistance?

We provide assistance for clients all over the world, including e.g. UAE, Quatar, Kuwait, Iraq, Iran, Egypt, Jordan, USA, Canada, China, India and all other third countries as well.

  1. What is the purchase price of the bond and what are the additional costs? How this payment shall be provided?

The investment amount for the bond is 300.000,-EUR and the procedure fee is 60.000,-EUR.

Please note that the purchase price of the bond (i.e. the 300.000,-EUR) is refundable, and will be return to the applicant/ investor at the end of maturity.

This payment must be provided in cash payment by bank transfer, so no in-kind contribution is accepted.

Besides of the above, there are no further costs.

  1. How long is the residency bond valid; what is the maturity period?

The minimum time period of the investment is 5 (five) years, which can be prolonged and the residency can be used as long as the applicant/investor needs it – even for lifetime – and without any further payment obligation.

  1. Under the program it appears that residency is in perpetuity after the initial six month probation period. Is this true?


Yes, the applicants will get a temporary residence permit at first, which will be converted automatically to a permanent residence permit after 6 months. 

  1. Is it true that no matter whether only the main applicant or also their family members apply, the residency bond purchase price is the same?

Yes, in the frame of one application the whole family (wife and children under 18 years old) of the applicant can obtain the residency permit for the same price.

  1. In the event that residents under the above programs opt to apply in the long term for citizenship, what are the conditions for obtaining such?

In order to apply permanent residence permit, all applicants:
- shall have a clean criminal record,
- shall not be considered as a threat to the national security of Hungary
- payment of the financial contribution. 


No further requirement is necessary to obtain permanent residence permit.

Please note that the permanent residence permit does not guarantee the Hungarian citizenship automatically. In order to obtain Hungarian citizenship further conditions must be met by the applicant.

  1. Does the applicant must travel to Hungary to apply and participate in the Hungarian Residency Bond Program?

No, it is not required. The applicant with his/her family may perform the personal meeting and client identification at the Hungarian embassy/consulat which is near to his/her location and available easiest.

  1. What is the precise role of the six entities participating in the transaction bonds? Are these companies essential to the process?

These entities are the exclusive ones, who are fully entitled to carry out this special immigration procedure and technically they can only register the bonds.

Their major role in the Program is the following:

  • All personal documents (passports or other identification documents) shall be submitted to them and they forward the file of the application to the Hungarian Immigration Office.
  • They take care of the previous backgroud scanning of the applicant as regards to the clean criminal background.
  • They organize and assist on the meetings at the Hungarian embassies, if the applicant is identified at his/her own country (where the applications shall be submitted and the biometric identifications will be performed).
  • They register the government bonds on behalf of the applicant.
  • They issue purchase declarations to the applicant (which shall be submitted to the Immigration Office proving that the investor paid the amount completely).

 

  1. The 300.000,-EUR purchase price and the 60,000,-EUR procedure fee for the Program is distributed how? 

The fee of EUR 300,000 is the value of the residency bonds, which amount will be returned after the 5 years or after the prolonged period. The 60.000,- EUR procedure fee is not refundable. The investment and the administration fee cover the residence permit for the whole family and shall be paid at once by bank transfer.

  1. Are the Hungarian consulates fully briefed on the procedural aspects of these programs? (this has been a weakness in some territories for our existing activity)

The Hungarian embassies or consulates have been properly informed on the procedural aspects of this Program, since this kind of immigration procedure is regulated by law as well (Act II of 2007 on the Admission and Right of Third-Country Nationals).

The representatives of the mentioned 6 entities maintain continuous contact with the consulates, therefore, the administrative tasks are completed quickly and smoothly at the consulate, which is the simplest available to the applicant. Moreover, for the comfort of the applicant, the representative of the relevant entity is present at the time of personal arrangement of the application and client identification.

  1. What is the form of the documentation to be submitted, and does this go initially and uniquely to the consulates?

The investors can decide whether they would like to apply: at the local Embassy or Consulate of Hungary, or in Budapest at the Immigration Authority. The Embassy or Consulate is not entitled to take a decision in this matter, therefore the file of applications will be sent directly to the Hungarian Immigration Office. As mentioned above the responsible company fills out and sends the required application forms to the applicants.

The following documents need to be attached to the application:
By the investor:
- good quality copy of the passport (which should be valid for at least one year)
- 2 passport-sized colour photos

In case of the family members:
- good quality copies of the passports (which should be valid for at least one year)
- marriage and birth certificates
- 2 passport-sized colour photos for each person

If the documents are not in English, they have to be officially translated to English or Hungarian and apostilled.