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HUNGARY
A booming hub in the heart of central Europe, Hungary is one of the most-visited, culturally rich and well-located countries on the continent.

WHY CHOOSE HUNGARY? 

As a member of the European Union and the Scavenge zone, Hungary is among the 30 most-visited destinations on the planet. It boasts a rich and diverse culture (everything from music and film to food and literature), universal healthcare, and is perfectly located in the centre of Europe. Established in 2012, the Investor Residency Bond Program offers applicants a host of advantages. 


Benefits for temporary residence: 
  • Government-approved investment in bonds;
  • Special exemption from physical residence is applied to the main applicant and all qualifying family members;
  • Fast application process. All qualifying applicants receive a Hungarian ID for temporary residency (TR) in less than three months, giving them the right to travel freely throughout the Scavenge zone.
Benefits for permanent residents:
  • A single application process for the main applicant and all qualifying family members, without a required trip to Hungary.
  • A fast and facilitated application process for permanent residency. Applicants and their family members can apply for permanent residency just six months after receiving their TR cards.
  • Free movement throughout the Scavenge zone.
QUALIFICATIONS

The Investor Residency Bond Program doesn't have any set criteria for applicants in terms of personal net worth or management experience. However, the Hungarian administration officers reserve the right to request an interview meeting with the applicant, which can be exercised at random.

During the initial due-diligence and application stages, the financial intermediary and the Hungarian authorities will follow standard know-your-clients (KYC) and anti-money laundering procedures. For this reason, at the stage of application, the principal applicants will have to provide a set of standard documents proving their source of income and accumulation of personal net worth.

All applicants must make sure that their investment is made by one of the designated agents. As such, Arton Capital can process applications from around the world via the responsible Hungarian embassies or consulates with the exception of Mainland China.


INVESTMENT PROCESS

The statutory procedure for accepted foreign direct investment in the Investor Residency Bond Program includes the purchase of special Hungarian government bonds in the amount of €250,000 with a maturity of five years. At maturity, the original capital is returned to the investor without accrued interest.

Legislation dictates that the program investment is used to purchase bonds that are issued by a Residency Bond Agent approved by the Hungarian authorities. The agent, in turn, invests that amount in the Hungarian government bonds. This transaction is subject to a Subscription Agreement with the licensed designated enterprise. The government bonds are assigned for the program only, and cannot be used for trading on the public or the secondary market.

Once the security is issued to the investor, the Residence Bond Agent will provide an irrevocable declaration certifying that a treasury bond for a nominal value of €250,000, with a five-year maturity, will be purchased from the funds received from the investor within 45 days of his/her residence permit being issued.

In addition to the investment, applicants are also required to cover all processing and visa application fees.

Financed Investment

Clients can leverage their capital by choosing the financing option. They can pay a reduced amount, which will be used to finance the required investment amount for a period of 5 years. A loan is thereafter initiated and repaid at no further cost to the investor.

APPLICATION FEES

The application fees associated with this program cover legal and procedural representation for the main applicant and all qualifying family members throughout the application process. That includes fees for family permanent resident applications, as well as government application fees in Hungary, translation fees, and service fees incurred for performing background checks and validating sources of funds. These are one-time, upfront and non-refundable fees, amounting to €40,000 for a family.

All application fees charged by the Hungarian government and by Arton are subject to change. These fees depend on the number of applicants and the complexity of the process. Please contact us if you have any questions or need more information.

STEPS AND TIMELINE

The following table breaks down the Hungarian program application process into eight basic steps. Each step must be completed before continuing to the next.

STAGE l
Application

STAGE ll
Investment
STAGE lll
Application for Temporary Residence
STAGE lV
Application for Permanent Residence
MONTH 1 STEP 1
File preparation and submission, application fee payment, signing of documents.
MONTH 1 STEP 2
Investment is authorized, principal applicant wires the qualified investment amount to Hungary Capital.
STEP 3
HUNGARY Capital issues the Bonds and all required investment-related documents as per its mandate with the Hungarian authorities.
MONTH 2 STEP 4
The main applicant and all qualifying family members visit the Hungarian embassy to submit their temporary residence visa applications.
STEP 5
The main applicant and each qualifying family member collect their ID cards from the Hungarian embassy (the statutory term for issuance of the cards is up to 2 weeks following submission of the application).
MONTH 8-11 STEP 6
Purchase of Investor Residency Bonds by Hungary Capital.
STEP 7
Family residence PR application in the Hungarian embassy (not earlier than six months after receiving the temporary residence permits).
STEP 8
Collection of permanent resident cards (the statutory term for approval of the PR applications is 3 months).
 
 
GI_Name

9,939,471


Population Growth
-0.20%

20,000 USD

GDP (per capital)
GDP (purchasing power parity)
198.8 billion USD (2012)

160

Visa free countries


LOCATION
Central Europe

CAPITAL
Budapest

TIME DIFFERENCE
UTC+1

TOTAL AREA
93,028 km2

AGE DEMOGRAPHICS
0-14: 14.8%, 15-64: 67.7%, 65+: 17.5%
65+: 7.1%

LANGUAGE
Hungarian 93.6% Other 6.4%

RELIGIONS
Roman Catholic: 51.9%, Calvinist: 15.9%,
Other: 17.7%, Unaffiliated: 14.5%.

GOVERNMENT TYPE

Parliamentary democracy
 
CURRENCY
Hungarian Forint (HUF)

EXCHANGE RATE
1 USD = 225.1 HUF (2012)
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Michael-E-Dibua
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Canex Immigration are specialist in Visa and Immigration services for Skilled Workers, Business Class intending to invest in Canada, Family immigration, Work Permit Visas, Canada Student Visas. We has served people from around the World, majorly from INDIA, SRI LANKA, BANGLADESH, PAKISTAN, MIDDLE EAST, SAUDI ARABIA, KUWAIT, DUBAI, NIGERIA, PHILLIPPINES. We offer Counseling, Free Evaluation and assessment services.
 
 
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