Budapest (MTI) – Sales of special government bonds that accelerate applications for permanent residency in Hungary by foreign nationals have reached 2,200 in China, the head of the company that deals in the papers in China and Vietnam said on Tuesday.
Lian Wang, of the Hungary State Special Debt Fund, said sales this year alone had reached 1,800 residency bonds.
The overall amount generated so far on the sale of the special bonds has totalled 500 million euros in direct capital investment for Hungary, he said.
Legislation approved by the Hungarian parliament in 2012 allows foreign nationals who invest at least 250,000 euros in securities issued by an agent mandated by parliament’s economic and IT committee to avail of an accelerated application procedure for permanent residency in Hungary. The agent in turn buys special permanent residency bonds — five-year non-tradable government bonds — from the Government Debt Management Agency (AKK).