Published at: 17/03/2014 01:46 pm
By participating in the Hungarian Residency Bond Programme, the new European residents are saving 5 years because they can obtain the permanent residency of the European Union after six month and not after five years, which is the normal time limit under the EU Directive.
There are different residency programmes in several EU member states, but admittedly the fastest and cheapest system is the Hungarian Residency Bond Programme. For obtaining an EU permanent residency, it is enough to invest 250.000 euros in the residency bonds, the payback of the amount is guaranteed by the Hungarian Government.
When the process starts the applicant can travel to Hungary and there or in any Hungarian embassy or consulate can have his or her temporary residency permit. This temporary residency permit is also valid in all EU countries and can use to travel inside the Schengen area. After six months the Hungarian temporary residency permit can be changed to a permanent residency permit. This permit allows the new resident to travel and practically live anywhere inside the European Union.
The new amendment of the Hungarian Immigration Law allows its residents to keep their Hungarian residency without the time limit of living in Hungary. In the other member states of the EU the residents have to stay at least 183 day inside the country. This is one of the main reasons why the Hungarian EU residency is the best solution of all. The only important condition is regarding the free movement inside the EU is, that the resident has to maintain a Hungarian address.
Hungary entered into European Union in 2004. As member state its residents can travel and work anywhere inside the EU. The Hungarian Residency Bond Programme was designed for those applicants who wish to invest in the Hungarian economy and in change the Hungarian state grants the right to live in the country and to profit from the advantages of residing in an EU member state.