Ever gazed with envy on the European citizen lines at European airports while waiting in line with a non-EU passport?

Now those days could be over for you!

Hungary has billions of pounds of foreign currency debt due within a short period so is needing new sources of cash. The Ruling party in Hungary is proposing giving citizenship to any individual who buys 250 thousand Euros worth of national debt.  The expectation is that purchasers will largely be Chinese.

International reaction from EU partners has been underwhelming!

 

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  • Sonja said,

    That’s quite hilarious actually.

  • ChineseScouser said,

    Apparently it’s minimum of 250,000 Euros if anyone’s interested! Need to find out if that’s per person or is there a discount for 2? Either way, applying now! Get in the queue everyone!

  • Rosalie Gjerde said,

    If you could retain your home citizenship this could be a good deal. There is the possibility of Hungarian or European medical care, train fare reductions and even working in Europe. This could be worth watching.

  • Larry Stanteen said,

    Looks like it is 250,000 euros worth of bond. European Union calls it a shocking abuse. #obvious

  • Gary said,

    Actually this seems somewhat reasonable.

    Someone willing to cough up a quarter million euro investment in state debt probably deserves citizenship more than a person born in the country by happenstance that has been benefiting from state borrowing.

    And why SHOULDN’T it be this possible to become a citizen?

    I’d love to see a parallel focus on humanitarian granting of citizenship. What if the two programs were linked?

  • John said,

    I lived in hungary for a while and visit often (married a hungarian). The country is falling apart (constitution was changed after the regime change, neo nazis are tolerated) and whoever buys the debt knows that it will not be returned. Hungary is already taking IMF money and has limited future economic growth.

  • Andy said,

    Citizenship by investment is nothing new actually. Canadian is $1 mil, US is $0.5 mil, Swiss is $2 mil, etc. It’s a commodity nowadays

  • Nat Arem said,

    At first I read this as 750 euros. I was about to become Hungarian for the hell of it.

  • omp said,

    there way cheaper and easier ways to get an EU passport lol:)

  • Peter said,

    This is nothing new. Austria has been doing this since 1985, albeit the capital investment is a lot higher. I believe it currently sits at 5 million euros.

  • Ryan said,

    JUst updated my Christmas list, lol!

  • GuWonder said,

    Citizenship by way of investment without meeting some year(s) of permanent residency status in the country is very rare for OECD countries.

    Canada and the US require the persons to be residents before granting citizenship. Switzerland used to have some provisions that required neighbors approval before being granted Swiss citizenship even if having invested substantial sums of money to get residency status.

  • timmer1001 said,

    There is no price on US citizenship. You can receive a green card for as little as $25K investment, but it is an investment, not a fee paid to DHS

  • Kumar said,

    For timmer1001,
    Would you have any link that we could check about this on the internet. Its quite surprising that US green card could be had for 25K USD investment only!

  • tajinder said,

    who needs bankrupt europe citizenship. iit is better in india and china

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