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Hungary resumes residency sales for the wealthy
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In a move similar to the controversial Golden Visa scheme of the past, Hungary’s government, led by Prime Minister Viktor Orbán, is introducing residency sales for foreign investors in Hungary.
The guest investor status
According to Népszava, the residency sales form part of the “tightening” of the migration policies in response to the “crisis situation caused by mass immigration”. The revised act introduces a “guest investor status” aimed at attracting foreign investors. This status permits stays exceeding 90 days and multiple entries. Additionally, there’s an option to apply for a guest investor residence permit, facilitating unrestricted entry and exit to Hungary, akin to the now-discontinued Golden Visa programme. Read more about it HERE.
Orbán-linked real estate funds
The initiative is raising eyebrows due to its potential impact on real estate funds associated with Orbán’s son-in-law, István Tiborcz. Beneficiaries of the new programme include real estate funds connected to Tiborcz, notably the Central European Real Estate Fund (CEI) and Diófa Thales. These funds, listed among the 24 funds registered with the Central Bank, have the potential to significantly boost their turnovers.
Again and again Orbán and friends are exposed but still many Hungarians deny the country is governed by criminals and fake “nationalist” traitors.
At least the pool our Politicians are fishing in should be big enough. A one or small 2 bedroom apartment anywhere in major European cities is in the EUR 1 million range. Half that gets you something halfway decent in Budapest – with a (Schengen) visa as a bonus (or is it the other way around). Beyond cynical.