Egyutt proposes parliamentary day of debate on residency bonds

Budapest, February 4 (MTI) – The opposition Egyutt party is proposing a parliamentary day of debate to clarify issues concerning the sale of residency bonds.

Zsuzsanna Szelenyi, who sits in parliament as an independent, said there is no need for residency bonds because they increase Hungary’s forex debt. The bonds are also available from offshore companies, which is against the constitution, and it is not known who acquires residence in Hungary.

Foreign nationals buying 300,000 euros worth of government bonds can obtain a residence permit that can be extended for five years.

She said it was unclear what parliament’s economic committee had to do with this “confusing issue”.

In a “normal case” the bond issue would be managed by the Hungarian state and the economy ministry would be responsible for it, she said.

Szelenyi said she would first contact the ruling party’s group leader and the head of the economic committee with a request for support for the day of debate

Radical nationalist party Jobbik also called for the residency bonds to be scrapped in their current form. Daniel Karpat, the party’s deputy group leader, told a news conference that it was unacceptable for unknown persons and business players to be allowed into the country as a forced means to boost budget revenues. He condemned that a large amount of the profit was being skimmed into companies with “a suspected offshore background”.