Residency options in Hungary offer business owners and investors a pathway to secure European residence while accessing valuable opportunities. Zlata Erlach, Head of the Austrian office at Immigrant Invest, covers the essential details for businesspeople and investors under the Hungary Golden Visa program.
Hungary residency options for business owners and investors
Hungary offers two main pathways for residency: The Hungary Golden Visa and a residence permit through company registration. Both options cater to investors and business owners seeking a stable environment for personal and financial growth.
Hungary Golden Visa. This option allows investors to obtain residency by making a qualifying investment. The Golden Visa is available to those who invest in government-approved funds or other assets. The process is straightforward but comes with specific financial requirements.
Hungary business residence permit. Business owners can also obtain residency by opening a company in Hungary. This path is ideal for those looking to expand their operations into the European market. The residency permit is tied to the active operation of the business.
Each option offers distinct benefits, but both provide a secure residency status in a central European country with growing economic opportunities.
Investment opportunities in Hungary with Golden Visa
The Hungary Golden Visa is designed for high-net-worth individuals who are ready to make significant investments. To qualify, investors must meet specific financial requirements, which typically involve investing in government bonds, real estate, or accredited funds.
- Requirements. investors must commit a set amount, starting at €250,000. These funds must be invested in approved assets.
- Costs. In addition to the investment amount, applicants should budget for administrative fees, legal services, and other processing costs.
- Process. Once the investment is made, applicants undergo a Due Diligence process. Upon approval, residency is granted within a few months, allowing immediate access to Hungary and Schengen Area travel.
This option is appealing to those looking to secure European residency with limited physical stay requirements, making it flexible for international investors.
Business immigration to Hungary through opening a company
For entrepreneurs looking to establish a business presence in Europe, Hungary offers a straightforward route to residency. The entrepreneur visa Hungary process involves registering a company and actively operating it within the country.
- Requirements. Entrepreneurs must register a legal entity, such as a limited liability company (Kft), and demonstrate the business’s viability. This includes providing a business plan, financial projections, and evidence of initial capital investment.
- Costs. Setting up a company in Hungary typically involves legal fees, registration fees, and capital requirements. Entrepreneurs should expect to invest around €10,000 to €20,000 initially, depending on the business type and scope.
- Process. The application for a residence permit is submitted after the company registration. Entrepreneurs need to show proof of the company’s operational status, such as contracts, employee hires, or other business activities. Residency is granted once the company is fully registered and active.
This option suits business owners who want to relocate their operations to Hungary or expand into the European market.
11 benefits of residence permit in Hungary
Securing a residence permit in Hungary provides a range of benefits for investors and business owners. Here are 11 key advantages:
- Access to the Schengen Area: Hungary is part of the Schengen Area, allowing visa-free travel to 29 European countries.
- Favourable tax regime: Hungary offers competitive corporate and personal tax rates, making it an attractive destination for businesses.
- Low cost of living: Compared to Western Europe, Hungary provides a lower cost of living while maintaining a high standard of services.
- Central location in Europe: Hungary’s geographical position makes it an ideal hub for businesses looking to access both Eastern and Western Europe.
- Stable legal environment: The country offers a robust legal framework that protects investors and ensures business stability.
- No minimum stay requirements: Investors under the Golden Visa program are not required to maintain a long-term presence in Hungary.
- Pathway to permanent residency: After five years of temporary residency, Golden Visa holders can apply for permanent residency, securing long-term stability.
- Access to high-quality healthcare: Residency in Hungary grants access to the country’s public healthcare system, which offers high standards of care.
- Affordable real estate market: Hungary’s property market is more affordable than many European countries, offering potential for capital appreciation.
- Family inclusion: Residency permits can be extended to family members, allowing spouses and children to benefit from the same status.
- Education opportunities: Hungary offers access to excellent educational institutions, both public and private, for residents’ children.
Application process to obtain Hungary residency
The application process is clear but requires preparation. It begins with gathering the necessary documents, which must be submitted to Hungarian immigration authorities.
After submission, authorities will review the application, a process that can take 5 months. The basic steps include:
- preparation of documents;
- submitting the application;
- awaiting approval;
- receiving residency permit.
It’s important to follow all legal steps carefully. Applicants should work with experienced immigration advisors to ensure their application is completed correctly.
Conclusion
Hungary provides flexible residency options for business owners and investors, offering both the Golden Visa and the opportunity to secure a residence permit through company registration. These pathways open doors to the European market, travel, and a stable environment for both business and personal growth.
