Hungarian foreign ministry denies reports of property-based residency permit scheme

The foreign ministry on Wednesday denied media reports that it has launched a scheme tying the issuance of residency permits to the purchase of property in Hungary.

“The government has not launched nor does it support any property-based residency permit scheme,” the ministry said in a statement. Those who submit residency applications citing a property purchase will not automatically receive residency permits in Hungary, it added.

“The Hungarian Embassy in Beijing has clarified on its consular service website that reports in certain Chinese and Hungarian media outlets claiming that Hungary has launched property-based residency permit programme are lies,”

the statement said. “Our embassy has sent the government’s official position to every portal and social media platform that has published the fake news report.” The ministry said it had asked the platforms in question to take down the report and to publish the official government position.

Several media outlets have reported that a Chinese company was advertising a new Hungarian residency permit scheme tied to the purchase of property on social media.

It is reportedly being advertised as “property investment immigration” and ties the offer of a residency permit to a minimum 25 million forint (EUR 79,000) property investment and the payment of a 50,000 euro administrative fee.

The advertisement is reportedly linked to the Hong Kong-based company LSP International, whose owner, Chinese entrepreneur Lian Wang, had participated in the residency bond scheme that was suspended last year.

Index.hu reported before Hungary let mostly Russians with Ukrainian papers into the EU. Since the Hungarian citizenship is cheaper than the Spanish or Hungarian minister Rogán’s residency bond program, many try to buy it on the Internet. And if there is a need, there will be a supply. Read more HERE.

Also we published an interview with a man named Han, who came from Peking to Budapest. He sold his housing back in China and moved to District XVIII to live there with his family. But what does he think of Hungary as a place of residence? Read more HERE.

Photo: MTI

Source: MTI