1.
Under both
programes it appears that residency is in perpetuity after the initial six month probation period. Is this true?
Yes,
in both cases the applicants will get a temporary residence permit first, which
can be converted to a permanent residence permit after 6 months.
2.
In the event
that residents under either of the above programes opt to apply in the long
term for citizenship, what are the conditions for obtaining such?
In order to
apply permanent residence permit, all applicants:
-
shall
have a clean criminal record,
-
shall
not be considered as a threat to the national security of Hungary
-
payment
of the financial contribution.
In both cases no further requirement is necessary to obtain permanent
residence permit.
However the permanent residence permit does not guarantee the Hungarian
citizenship automatically. In order to obtain Hungarian citizenship further conditions
must be met by the applicant.
3. What is the precise
role of the seven entities participating in the transaction bonds? Are these
companies essential to the process or only in programe 1?
In both cases
these entities are the ones, who are fully entitled to carry out this special
immigration procedure.
Their major role
in the Programs is the following:
-
All personal documents (passports
or other identification documents) shall be submitted to them first.
-
They fill out the required application forms on behalf
of the applicants.
-
They organize and assist on the meetings with the
authority (where the applications shall be submitted and the biometric
identifications will be performed).
-
They register the government bonds on behalf of the
applicant.
-
They issue purchase declarations to the applicant
(which shall be submitted to the Immigration Office proving that the investor
paid the amount completely).
4.
The €50,000
transaction fee for Programe 1 is distributed how? What is the fee structure
for programe 2?
The fee of EUR 250,000 is the value of the residency bonds in the
Program 1, which amount will be returned after the 5 years or the prolonged
period. In this case the investor is required to pay an additional
administration fee of EUR 50,000 which is not refundable. The investment and
the administration fee cover the residence permit for the whole family and
shall be paid at once.
The fee of EUR 120,000 is a one-time administration fee in the Program
2. In this case no payment will be returned after the 5 years or the prolonged
time period. This one-time administration fee also covers the residence
permit for all family members, who can jointly apply.
5.
Are the
Hungarian consulates fully briefed on the procedural aspects of these
programes? (this has been a weakness in
some territories for our existing activity)
The Hungarian
embassies or consulates have been properly informed on the procedural aspects
of this Program, since this kind of immigration procedure is regulated by law
as well (Act II of 2007 on the Admission
and Right of Third-Country Nationals).
The
representatives of the mentioned 7 entities maintain continuous contact with
the consulates, therefore, the administrative tasks are completed quickly and
smoothly at the consulate, which is the simplest available to the applicant.
Moreover, for the comfort of the applicant, the representative of the relevant
entity is present at the time of personal arrangement of the application and
client identification.
6.
What is the form
of the documentation to be submitted, and does this go initially and uniquely
to the consulates?
The
investors can decide whether they would like to apply: at the local Embassy or
Consulate of Hungary, or in Budapest at the Immigration Authority. The
Embassy or Consulate is not entitled to take a decision in this matter,
therefore the applications will be sent directly to the Immigration Office.
As
mentioned above the responsible company fills out and sends the required application
forms to the applicants.
The
following documents need to be attached to the application:
By
the investor:
-
good
quality copy of the passport (which should be valid for at least one year)
-
2
passport-sized color photos
In case of the
family members:
-
good
quality copies of the passports (which should be valid for at least one year)
-
marriage
and birth certificates
-
2
passport-sized color photos for each person
If the documents
do not contain English, they have to be officially translated to English or
Hungarian and apostilled.
