As regards to the Residency Bond Program in Hungary, BWSP Gobert & Partners provides assistance for clients all over the world.
The Hungarian Government opened the Residency Bond Program in 2013. On behalf of the Government 6 companies are entitled to proceed for the registration of the government bonds under their name. These Companies are in cooperation with Our Law Office, considering that the legal and administrative background in the Residency Bond cases are provided by Our Law Office in the interest of the clients. So far the cooperation with these companies is very successful and dynamic.
With respect to its success, the purchase price of the Bond has increased to EUR 300,000,- since 1st January, 2015; however, the governmental administration fee remained the same for the procedure, namely EUR 60,000,- which includes the price of the legal assistance, whether you take this opportunity or not.
Please note that the Government undertakes to return the full amount Bond’s nominal value (i.e. EUR 300,000,-) at the end of the maturity, which is at least in 5 years, but can be prolonged without further payment obligation.
In the frame of one application, the whole family (wife and children under 18 years old) of the applicant can obtain the temporary residence permit within 1 month (it takes usually 3-4 weeks), which can be converted to a permanent residence permit after 6 months with a formal application at the Hungarian Immigration Office. I kindly note you that the residency bond purchase price is the same, no matter whether only the main applicant or also their family members apply.
The administrative work with the residence permit, the liaison between the competent consulate officer and the Immigration Authority is pursued by Our Law Firm and the relevant company out of the 6 companies entitled by a Parliament decree to register the Residency Bonds in such cases.
No payment shall be provided by our clients to Our Law Office, since it is covered by the companies which are registering the bonds, unless the client steps back after starting the procedure, in such case EUR 5,000,- cancellation fee shall be paid to Our Law Office.
We hope that the above information provided a helpful summery regarding the Hungarian Residency Bond Program in order to start a cooperation with Our Law Firm.
In case to discuss the further details please contact Dr. Réka Ipacs: reka.ipacs@gfplegal.com