Opposition party calls on government to stop ‘residency bond business’

Budapest, July 26 (MTI) – The opposition Együtt party has demanded that the government should drop its “business” of granting permanent residency to foreigners buying a certain amount of state bonds.

Együtt head Viktor Szigetvári told a press conference on Tuesday that rather than seeking “temporary loans to the Hungarian state from foreigners” it would be “more honest” to offer opportunities to skilled foreign job-seekers.

Selling residency bonds is “corrupt business”, Szigetvári said, and noted that under a recent amendment holders of such bonds are granted immediate residency permit in the country.

Szigetvári also said that his party wants information on bond holders to be made public.

Under the scheme launched in 2013, foreign investors buying 300,000 euros worth of state securities are offered a residency permit that can be extended for five years and allows free travel throughout the Schengen zone.

Source: MTI