Hungary raised a total of EUR 445.75 million through the sale of 1,783 residency bonds in 2014. According to the Hungarian Government Debt Management Agency (AKK), the figure represents a five-fold increase over the figure for 2013, and brings the cumulative total number of residency bonds sold to foreigners by the end of last year to 2,213.
Launched in 2012, the bonds, worth EUR 250,000 each, allow foreign nationals to participate in an expedited application process for permanent residency in Hungary. In December 2014 Hungarian MPs voted to increase the value of the investment required in the bonds to EUR 300,000.
The bonds are issued for a term of five years, and are in the form of non-tradable government bonds issued by agents designated by the Hungarian Parliament’s economic and IT committee.