Hungarian Golden Visa Scheme Suspended

The Hungarian Golden Visa scheme, dubbed as “Residency bond program” has been discontinued as of March 31, 2017.  There are news that the residency bond program may resume after 2018 elections in Hungary if the current Government wins the elections.

The Hungarian Government Debt Management Agency (ÁKK) announced that the government will stop accepting requests for Residency Bonds on March 31stof this year.

Hungary’s bond programme was the most popular investment programme in Europe.

The Golden visa scheme in Hungary offered permanent residency to wealthy foreigners across the globe who purchased Hungarian Government bonds worth €300,000 locked for 5 years. After 5 years the entire investment is refunded. Financing option is given by agents who promoted the golden visa scheme.

As many as 4033 residency bond applications were processed by agents as of Nov 2016 reported by HungaryToday.

Currently the Hungarian Entrepreneur Residency Program provides a cheap and easy immigration option to Hungary for entrepreneurs, business owners and self-employed people who wish to obtain residency in Hungary.

The real estate market has picked up in Hungary and prices are soaring for residential apartments in Budapest with prices going up to €1500 per metre square.

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