Hungary offers entrepreneur visa to foreign investors who start a business in Hungary with a small investment. Hungary is a part of schengen and the local currency is hungarian forints (1 EUR = 310 HUF). The Hungarian capital Budapest is beautiful city visited by over 2 million tourists every year and a hub for several business startups in eastern Europe.
Now that most Hungary bond program is closed, the entrepreneur visa offers a cheap and easy path to immigrate to Hungary.
- Immigrate to Europe through residency in Hungary
- Cheapest immigration program in Europe.
- No requirement to live permanently in Hungary
- No residence requirements.
- Spouse and children also qualify for Hungarian residency.
- Cost of living in Hungary significantly cheaper compared to other western European countries
- Great opportunity to invest in Hungary property market.
- Travel to other schengen states such as Switzerland, France, Germany, Belgium etc.
- Hungary has low corporate tax in Europe (9%)
- Business hub with excellent air connections to european cities.
A minimum of €15,000 euros to be invested in Hungary business. The total costs for incorporating small one person company (Kft or LLC) in Hungary will come around €5,000 euros. The minimum capital needed is €10,000 (HUF 3,000,000). This capital can be borrowed or financed and investors dont need invest this capital. A VAT registration number is also required for company operations. Foreigners can qualify for long term residence permit as a director of the hungarian company. Family members can join later under family unification once the first visa issued to investor.
Usually a solid business plan is the most important requirement for receiving approval from the Immigration office in Hungary. You must also rent an apartment housing for address purposes and apartment rental costs in the city centre will be around €300 to €400 euros monthly plus bills with 2 months deposit. The initial residence permit will be issued for one year initially and then can be extended for every 2 years provided you pay taxes, rent a place and pay social security contributions.
The total processing time will take about 3-4 months. There is no requirement to live in Hungary. You can freely leave Hungary anytime you want, but must visit Hungary once a year.
How it works?
- Incorporate a new hungarian company from your country, we help you with the process and we will help you with all paperwork.
- Apply for long term residence permit from Hungarian embassy/consulate in your home country based on your business.
- Your D visa will be approved, visit Hungary in person and report to Hungary immigration office within 30 days to receive your residence permit.
- Travel freely in Schengen states with your residence permit (pink card).
- You must live in Hungary for 5 years without interruption to qualify for Permanent residence in Hungary
- You can naturalise for Hungarian citizenship after 8 years of living and fluently speaking the Hungarian language.
Real Estate in Hungary
Real estate market in Hungary have seen a major boom since 2016 and the apartment prices in the central location runs around HUF 500,000 per square metre. Non-EU persons can buy a residential or commercial property in Hungary if you have a hungarian residence permit. It is still cheap to buy a flat in Budapest starting from €50,000 euros. There are additional costs such as 4% stamp duty, 1.5% lawyer fee, 2% agent fee. Rental yields are about 7-8% in central budapest.
Please note VAT rate of 27% is applicable in Hungary and all business activities will be charged VAT including above mentioned prices.
