How to buy citizenship in Hungry
How to buy citizenship in Hungry and skip the permanent residency process. Previously, we talked about Spain offering residency for house buyers, but would-be expats may want to take a look at Hungary. Hungary may go a step further. Hungary might provide citizenship for those who buy €250,000 in government bonds. That’s right — citizenship, not residency.
If Hungary’s economy holds, you (theoretically) won’t even lose your money! Like the Spanish opportunity, this potential expat haven is happening because Hungary is struggling financially and trying to figure out how to deal with the mess. Unlike the Spanish opportunity, would-be expats wouldn’t have to fear the locals getting too upset because you wouldn’t be kicking anyone out of their homes. However, the European Union is not happy with Hungary. That’s because gaining citizenship in one EEA (European Economic Area) country pretty much means you can live and work in any of them. You can’t have those pesky wealthy Chinese moving next door, eh? Did I mention that, like the Spanish strategy to attract the Chinese? Nobody seems to want to attract American investors anymore. The Chinese seek alternate citizenship; while the US may not pay attention, Europe is.
Will Hungary’s current strategy hold?
So, openly targeting a market like the Chinese is a strategy many countries use. The long-term effects are Increased rates of organised crime and people trafficking. One would think that the targeting of Western migrants will soon follow. Places like Thailand are now heavily focused on attracting high-net-worth individuals. So keep an eye out for visa programs with express citizenship avenues targeting wealthy individuals. Look at Indonesia’s new 5-year digital nomad visa.
Before you buy a Hungarian guidebook, read a bit about the Hungarian economic problems. Things may not be going so well for them right now.
Interested in other options to move to Europe, look at what other European countries offer with visas and permanent residencies. Greece offers the cheapest permanent residence with the Golden Visa.