Residency bond subscriptions reach 31 in March

Debt

Sales of special government bonds that accelerate applications for permanent residency in Hungary by foreign nationals reached just 31 in March, local dailies said on Thursday, citing data from the Government Debt Management Agency (ÁKK).

Sales of the bonds generated revenue of just 7.7m in March, business daily Napi Gazdaság said. Sales came to 16.7 mln in each of January and February.

Hungary introduced the non-tradable bonds under legislation approved in 2012. Agents, approved by parliamentary committee, issue securities against the bonds which are subscribed by foreign nationals. So far, 2,387 of the bonds, which now have a face value of €300,000, have been sold.

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