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European Union Citizenship for Sale!

SmarterTravel

To international travelers who want to live and work anywhere they like within the European Union, an E.U. passport is pretty much priceless. Hungary, however, is aiming to put a price on that privilege.

NBC News reports that Hungary’s parliament is considering legislation that would give permanent residency (and eventually citizenship) to foreigners who buy at least 250,00 euros (approximately $322,660, visit xe.com for current rates) of special government bonds.

The country is looking to attract wealthy investors from abroad, specifically focusing on Chinese citizens.

Hungary is struggling with debt—the country has billions of euros worth of foreign currency debt.

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