The Hungarian
government are planning to sell special residency bonds to help pay off the
country’s debt.
Hungary has billions of euros worth of foreign
currency debt, equivalent to 78% of its annual economic output, with the
country’s debt being the highest in Central and Eastern Europe, according to
Moody's Investors Service.
The Initiative aimed at
Chinese investors, would involve spending €250,000 to the
indebted country in exchange for
preferential immigration treatment.
It has been
indicated by politicians that foreign investors would receive residency and
ultimately citizenship.
The concern for
other EU countries is that a Hungarian passport
comes with the entitlement to live and work across the EU.
http://www.telegraph.co.uk/finance/financialcrisis/9644190/Hungary-plans-to-offer-passports-to-investors-buying-its-debt.html
Brophy Solicitors
23.11.12
No comments:
Post a Comment