Special Purpose Residency State Bond
Our Law Firm is supporting third coutry nationals applying for Special Purpose State Bond:
- Clients get Permanent Residency Permit for Schengen member states, with that one can travel and stay among Schengen member countries
- duration of the permanent Residency Permit is for indefinite time (entitles clients lifelong time)
- 30 days of process
- Family members (minor and major, adult children too, and dependent parents) are also entitled for permanent residence with family union purpose
- Full service, all costs are included in the fee (translations, interpreter, meetings, handling over documents, legal representation, handling application forms, etc.)
Our Law Firm is cooperating partner of several licensed companies, among others INNOZONE HOLDINGS Ltd., and through it ARTON Capital Hungary Kft., and VolDan Investments Ltd. These companies are ones of those, that are exclusively entitled to mediate and purchase the Hungarian Special Purpose State Bond according to state tender.
In case of your inquiry we give you all the information needed for applying for the state bond and residency permit. Furthermore we are giving you a helping hand through the whole procedure, in case of need also in the mother language of the client, with the help of interpreter, and by translating the contracts and other documents needed.
What is the Special Purpose State Bond exactly?
The Special Purpose State Bond entitles the client to get a permanent residency permit for Hungary, that is also a valid visa in the area of the European Union, and in the territory of the Schengen States. The permanent residence card entitles the client to enter and move freely among the European Union and Schengen countries. In return, the Hungarian State only expects the client to buy a state bond, that has been issued directly to this purpose for 5 years duration time.
Duration of the state bond is 5 years time, that will be buyed back by the Hungarian State in its original nominal value. Benefits of the Special Purpose State Bond
What kind of licenses does the Special Purpose Permanent Residency Permit give?
Duration of the residency permit is for indefinite time, and it entitles the client to:
- enter the territory of Hungary without any limitation
- stay continuously in the territory of Hungary without any limitation
- enter the territory of the EU and Schengen member countries
- stay continuously 90 days – originally - the territory of the EU and Schengen member countries
Members of the Schengen area at present are the following countries:
Austria, Belgium, Czech Republik, Denmark (except Greenland and Feroer Islands), Estonia, Finnland, France (except overseas territories), Germany, Greece, Iceland, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta, Holland (except overseas territories), Norway (except the Spitzbergen), Poland, Portugal, Slovakia, Slovenia, Spain (in Ceuta and Melilla provinces with extraordinary conditions), Sveden, and Switzerland.
Who can apply for this permanent residency permit?
This special purpose permanent residency permit can be applied by any third country nationals as private person, with reason of national economical interest, who purchases minimum 300.000,-EUR nominal value of this special purpose state bond. With the applicant, his family members: 1 wife (according to European laws) his/her children (not only under the age of 18, but also major, adult children), and dependent parents (dependants have to be proved by a declaration taken by the investor) of the client will also be entitled with family union purpose.
Short description of the process:
- We prepare the agent contract for managing the whole procedure after the client sends his personal documentation (passport),
- After signing the contract the client should transfer the purchase price of the state bond of 300 000 EUR, and the agent fee of 60 000 EUR into a deposit account of the licensed company
- the promissory note will be given out immediately to the client after paying the fees above
- The agent company makes out a declaration of covenant to the client in which he undertakes that after the client gets the residency permit, he will purchase the state bond within 45 days to the client
- The application form should be handled in according to the client's nationality - in Hungary, Budapest, or at a Hungarian consulate where the client lives. Clients can apply for a visa to enter Hungary for this purpose with the declaration of covenant mentioned above, and he will get the visa without fulfilling any other requirements (e.g.: he do not need to proof a place to stay, insurance, income, etc.)
- Client and his family appears in front of the immigration office – where the application is handled in, and their biometric marks are taken there for the permanent residence card.
- The Immigration Office has 30 days to make a decision and give out the permit. Manufacturing the permanent residence card takes 2 more weeks, and it can be handled over personally, or by power of attorny with the help of our office (then the client should not wait for the card).
Thus the Hungarian Immigration Office is entitled to giving out the permanent residency permits. You can read more here about the Immigration Office:
The whole procedure does not have any other additional costs apart from the fees mentioned above, the agent fee of 60 000 EUR contains all additional costs.
This Special Purpose State Bond can be offered only by those companies, that are in contract with the ÁKK Zrt. – a treasury company owned by mainly the Hungarian State. Both INNOZONE HOLDINGS Ltd., ARTON Capital Hungary Kft. and VolDan Investments Ltd. have the permit to mediate the Special Purpose State Bond. According to this permit we are entitled to bear mediation and purchase for any third country nationals from any country (contrary to most other agent companies, that have only a limited permit and rights). The official permit issued by the Hungarian State can be seen at the website of the Hungarian National Debt Handling Zrt., here:
According to present law, Special Purpose State Bond can be underwritten only by those companies, who have this permit. The State Bond is issued by the Hungarian Treasury, and the Hungarian State pays the nominal value of the bond back to the client at the end of duration. For that the Hungarian State assumes total guarantee.
During its duration time of the State Bond is registrated and handled by KELER Zrt. in Hungary, that is the central clearing-house:
About the State Bond the licensed company issues an own promissory note, that’s duration and nominal value is the same, in the 5th year (at the last day of the quarter when the state bond was purchased), one day after the expiration of the State Bond. Promissory note is a negotiable stock, that can be transferred to anybody at any time, can be presented or given as a cover or warrant – this does not change the expiration, nominal value or warranty of the promissory note.
Both during purchasing the state bond and at expiration after 5 years time we can offer further guarantees to our clients, to keep the purchase price safe during the whole process, with different bank constructino offers and lawyer’s deposits. About these guarantees we give more information personally or by phone. We are waiting for your calling either by e-mail or by phone, and we immediately get ahold of you, and collate the details personally.