Hungarian residency bond program running out

2016-08-18 07:34

The Hungarian Residency Bond Program is very effective.

Important Changes to the Hungarian Residency Bond Program

South Africans wanting to immigrate to Europe, or at least hold the option to move and travel freely in the zone, would do well to investigate the possibility of the Hungarian residency bond program, or a business visa of sorts, to allow permanent residency in an EU state.

Immigrating to a new country is not simple and there are many procedure and processes that may take years if at all, for a foreign national to gain residency. For those seeking to gain entry into the EU, or simply want an opportunity to relocate to a European country, the Hungarian Residency Bond Program may be beneficial to those who qualify.

What is the Hungarian residency bond program?

The Hungarian Residency Bond Program allows a non-EU national citizen to enjoy the benefits of being able to travel using their Hungarian official residency documents as proof of residency in Hungary. It allows the qualifying individual the ability to travel to 26 European countries as well as Schengen countries without a visa.

What are these changes to the Hungarian residency bond program?

Whilst it is rated as one of the best residency bond programs in Europe, its recent changes offer even more benefits. Read all of them below.

You and your family

The program will benefit you and your entire family because it will cover your spouse, and dependent parents over 60 years as well as dependent children over 18 years will get a permanent residency card. Prior to the new changes, dependent children had to be under the age of 18 to qualify for residency under the same application as that of either parent.

Speedy time delivery

Since its inception, the time has radically been reduced and it takes around 1-2 months for applicants to receive their permanent residence. Prior to the new and current times taken to process and deliver, it use to be a 2 step process in which applicant would first apply and obtain a temporary residence and only after 6 months had lapsed would the said applicant be allowed to apply for permanent residence, with process time being 8 months.

Further benefits

Other benefits afforded by the Hungarian residency bond program:

• Many residency programs may have a set amount of years that the individual would have to reside within the country before gaining official residence. With the current Hungarian residency bond program, it does not require a set period for applicant to reside in the country and no need to have a Hungarian address either.

• State education is afforded to children benefiting from the residency program

• Qualifying individuals can also enjoy state of the art health care within Hungary and the rest of Europe.

• Lastly, qualifying applicants do not have to purchase expensive residential property nor invest large sums of money in a Hungarian business.

These changes make it not only easier and quicker to apply and move through the immigration process, but also an affordable method of immediately entering into the EU and enjoying freedom of movement with the whole family. You also receive your bond investment back after 5 years, with interest, albeit at a low (but secure) interest rate.

As for the details: This program presents an opportunity for getting permanent residence in an EU and Schengen member state, and live, do business, or travel freely to and within Europe. You are required to make a state-guaranteed investment of EUR300,000 to be returned at the end of the 5-year term, applicants of all nationalities can obtain permanent resident permits with only a single visit to Hungary.

The fact remains however, that these bonds are not issued infinitely and may reach their limit in the near future. Those wishing to use the Hungarian residency bond program as a means to enter the EU should move fast and now.

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