by EUDO CITIZENSHIP expert Szabolcs Pogonyi

On November 12, the Hungarian Parliament amended the Act II of 2007 on the Entry and Stay of Third-Country Nationals. According to amended law, third country nationals who purchase at least 250,000 euros worth government bonds can apply for temporary residence for up to five years. The law stipulates that investors possessing the required amount of bonds after six months of continuous residence (instead of three years required from regular applicants) in the country can apply for permanent residence in the country. Earlier the Hungarian and foreign media mistakenly reported that the government was planning to open up the access to investment based-citizenship.

Read an article on The Telegraph about similar regulations in Spain.

Read a recent NY Times article on citizenship by investment.

Read an article on citizenship by investment in Bulgaria.