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Hungary sells more than 1,100 residency bonds by end-August

In Hungary

By the end of August, Hungaryʼs Government Debt Management Agency (ÁKK) sold 1,102 special government bonds that accelerate applications for permanent residency in the country by foreign nationals, ÁKK informed Hungarian news agency MTI today.

ÁKK sold 430 residency bonds last year and 672 by the end of August this year.

Hungary introduced the non-tradeable bonds with a face value of €250,000 apiece, under legislation approved in 2012. Agents, which must be approved by parliamentary committee, issue securities against the bonds which are subscribed by foreign nationals.

Antal Rogán, parliamentary group leader of governing Fidesz, recently submitted a bill to lawmakers that would raise the face value of the bonds to €300,000.

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