Several thousand from China alone are expected to apply for legal residency under a fast-track scheme where the necessary papers are issued in exchange for buying 250 000 euro worth of Hungarian government bonds.
As Hungary is part of the Europe’s open-border Schengen zone, the right to reside conveys all the freedom of movement advantages of an EU passport. The offer comes with the promise of a six-month fast-track to permanent residency status, which can in turn lead to full citizenship.
The government is clearly hoping to attract a lot of interest from China, a country with which it has assiduously worked to increase diplomatic and trade links under a policy of “opening to the east”.
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(Photo: Alex Bruda/sxc.hu)