Until 2017, Hungary used to offer fast-track residency to international investors who purchased dedicated government bonds. Before the investment residency program was canceled, the required investment sum was EUR 300,000, with a processing fee of EUR 60,000. Investments were handled by agencies licensed by the Hungarian government, including Arton, Discus, Innozone, and Voldan. The maturity of the investment was to be 5 years, after which investors could reclaim the capital from the agency they agreed with. There were no interests to be paid on the residency bonds.

There was also a “financed” option, where the investor had to pay only half of the investment amount together with the processing fee, while the other half was covered by the agency itself. In this case the invested amount was not to be paid back to the investor.

After the investment was cleared, investors became eligible for permanent residency in Hungary, since their presence in the country was deemed an economic interest of Hungary. Not only investors, but also their closest family members were allowed to apply, meaning spouse and underage children (younger than 18 years of age). The Hungarian permanent residence permit does not only allow for a prolonged stay in Hungary, but it also functions as a Schengen visa, since Hungarian residents can travel visa-free in the Schengen zone and can stay visa-free in any Schengen member state for up to 90 days. 

Permanent residency cannot be revoked, but the residency documents can expire. As a result, permanent residency should be renewed after 5 years – around the same time when residency bonds mature.