LEGISLATORS in indebted EU member Hungary are waving the prospect of a passport at well-heeled foreign investors.
Proposed legislation listed on parliament’s website would grant permanent residency and ultimately Hungarian citizenship to outsiders who buy at least e250 000 (R2.8 million) worth of special government bonds.
Hungarian passport holders are entitled to live and work throughout the EU.
The move, backed by the ruling government party, is designed to attract new investors, especially from China.
Hungary has billions of euro worth of foreign currency debt maturing in the next few years and has explored a variety of ways to refinance.