Budapest (MTI) – Hungary has sold 1,783 “residency” bonds to foreigners last year, raising 445.75 million euros, the daily Napi Gazdaság said on Tuesday, citing figures of the Government Debt Management Agency (AKK).
The stock of the bonds, worth 250,000 euros each, rose fivefold in the course of last year to 2,213 from just 430 at the end of 2013.
Legislation approved by the Hungarian parliament in 2012 allows foreign nationals who invest at least 250,000 euros in bonds 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 AKK. Lawmakers voted earlier in December to raise the nominal value of the bonds to 300,000 euros.