Want a European Union passport? Buy bonds in Hungary

[NewsCaster]

Attila Kisbenedek / AFP - Getty Images, fileFireworks burst over the Danube River in Budapest on August 20, 2012 during a celebration marking Hungary's national day. By ReutersBUDAPEST - Lawmakers in indebted European Union 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 250,000 euros ($322,600) worth of special government bonds.

Hungarian passport holders are entitled to live and work throughout the European Union.

Follow @NBCNewsWorld The move, backed by the ruling government party, is designed to attract new investors, especially from China.

Hungary has billions of euros worth of foreign currency debt maturing in the next few years and has explored a variety of ways to refinance.

NBCNews

[KingFemzee]

Tempting, if i have such amount i wont be thinking about Hungary at all.