Hungarian residency bonds to be purchased in great numbers next year

The selling of residency bonds seems to continue in 2017, even though the government mentioned the possible ending of the program, writes index.hu based on the advertising campaigns of the selling agency.

Index writes that Magyar Nemzet found marketing campaigns on the websites of Chinese agencies highlighting that the residency bond selling program would be still available next year regardless of the failed attempts to amend the constitution. However, as the rules concerning migration are getting stricter, it is advised that people purchase the bonds as soon as possible.

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There is also a misconception spread in China that Hungary offers the bonds based on quotas, therefore, customers shall worry not to miss their opportunity. These agencies tell their future clients to hurry up and buy their residency bonds to Hungary in the first quarter year of 2017.

Notably, the credit option is still available when buying the bonds, so customers choosing this only need to pay half of the prize. Though, this way they will not receive any money after the duration is over. This option, according to the calculations of Magyar Nemzet, would be more suitable than the normal construction for Hungary, which already means a deficit of 8.7 billion HUF for the budget.

However, the program has been a great business for the provider companies, within two years it brought a profit of about 110 billion HUF, of which 34 billion can be regarded as public money, for that is the value of the interest.

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So far, 4033 foreigners received permission for residency in Hungary; and according to Jobbik, this has the same national security risks as the flooding of the migrants. Other opposing parties criticized the construction for the reason that it is only beneficial financially for the Rogán-Habony business section. Recently, the government promised to end the program saying that it is not necessary anymore, because the country is in a better financial state.

Copy editor: bm

Source: index.hu