Residency bonds: 20,000 immigrants came
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According to Magyar Nemzet, 19,885 people received a national permanent residence permit based on newly published data of the Immigration and Asylum Office (IAO). Compared to that, the government chose the protection of Hungary from immigrants to be their leading message in the 2018 electoral campaign. As we reported, opposition parties strongly criticized the bond program before. To their mind, it gave perfect opportunity for even potential terrorists to come to Hungary and gain free movement within Schengen, if they pay the required money. Therefore, the government suspended the program in March with a decree. However, this means that they can start it again whenever they want.
Residency bonds: the business of the cabinet minister?
More than six months passed since the government suspended the residency bond program in March. However, IAO published the number of immigrants gaining a national permanent residence permit only nine months later. In contrast, the decree suspending the program prescribed unambiguously that
data should have been published by at least September.
But this is not the only problem regarding the program.
According to their data, thanks to the program 6,358 third-country nationals have received national a permanent residence permits so far. As we reported, they had to register state bonds worth of 300 thousand EUR and pay further 45-60 thousand EUR service charge. However, the Hungarian state guaranteed a 29 thousand EUR yield to all investors after 5 years. In addition, the program was
organized by offshore companies all having strong connections to Head of Cabinet of the Prime Minister, Antal Rogán.
All in all,
the program was a success for both third-country nationals and offshore companies, while Hungarian tax payers bear the burden of paying back the money with interest.
Thus, it is not surprising that the strongest opposition party, Jobbik, would have liked to incorporate the ban of the program into an amendment to the constitution, because they considered it non-transparent and dangerous to national security. However, government parties outvoted them.
