Laws and Regulation

In December 2012, the Hungarian Assembly passed the following laws and regulations, investors who buy the Hungarian government bonds can obtain permanent residency:

●    On 28 December 2012, the Hungarian government has modified the 2007 “Second Act” (entry and residence of third-country resident) (the “Act”). The applicant is eligible to buy Hungarian government bonds through the Fund authorized by the Hungarian government, in order to apply for residency of Hungary。
●    According to clause 28 (4) a) aa), the Ministry of National Economy who is in charge of the State budget, is responsible for the sale of the Hungarian government bonds. The Ministry of National Economy will manage the bond through (AKK)(Hungarian Debt Management Agency Private Company Limited by Shares) 。AKK sells the government bonds to third-country resident in accordance with “NGM Act” (Ministry of National Economy Act)。
●    Only the Fund who got the approval from Hungarian Assembly Committee on Economic Information Industry and signed the bond subscription agreement with AKK is permitted to purchase Hungarian government bonds。
●    In approval letter 5/2010-2014 of Hungarian Assembly Committee on Economic Information Industry, according to paragraph (ab) (a) subparagraph 28 (4), approved the Hungary State Special Debt Fund as the sole Fund who signed the bond subscription agreement with AKK, and can accept the government bond purchase application from China in accordance with legal procedure in Act 28 (3)。