Foreign investors can now essentially buy Hungarian residency permits for €250,000 after a new law was approved by parliament this week. The bill amendment creates an “investor residency” category that investors can exploit if they purchase at least €250,000 worth of five-year state bonds issued by the state debt management center. The law was approved by 265 deputies, while 65 voted against it and 19 abstained. A similar setup already exists in Canada. Antal Rogán, parliamentary leader of the right-wing FIDESZ party, mentioned that Switzerland, the US and other EU member states also issue residency permits if certain conditions are met, usually dependent on the size of investment.
