The bond can be issued exclusively by a finance company which received a permission to do so from the Economics Committee of the Hungarian Parliament. This finance company is legally required to buy a specially-issued government bond from the investment proceeds.
The residence bonds issued by the finance company are fully backed by the Hungarian Government Bonds. Our partner is a Special Bond Agent as a authorised agent of the Hungarian Residency Program for applications filed at the Hungarian consulates and embassies. After investing 250.000 euros for the Investor Residency Bond Program, the residence permit will be issued initially to the applicant.
This permit can be converted to a permanent residency after six months (during this six months the Hungarian authorities complete the due diligent process). Ater the permanent residency the applicant can obtain a dual citizenship in Hungary.
The residency permit allows the new Hungarian resident to live in Hungary, which is a member of the European Union and enables to travel and work in the EU.A new (2013) amendment to the Hungarian Immigration Law forbids the cancellation of the permanent residence permit of the Hungarian Residency Bond Program participant if he/she spends more than 6 months outside Hungary. This means that there is no legal requirement to spend time in Hungary. So the holder of the Hungarian EU Residence can stay unlimited time in any Schengen country. This is one of the major advantages of this system.
Second part: Documents required for the Hungarian Residency Bond (EU Schengen Visa)