Hungary is one of the many countries that had to suffer during the World War II.However, the late 90s brought the nation back on its normal route, and the country was declared as democratic parliamentary republic. Today,it is proud to have a high Human Development Index (HDI) and is one of the most popular tourist destinations in the entire Europe.

This land locked central European nation is a part of the European Union (EU) and is also a member of Schengen. Geographically located in Central Europe, its capital city Budapest is known for its mesmerizing beauty and is one of the major hub for tourists from across the globe. Unlike many other European countries, Hungary has a low cost of living and is much cheaper when it’s compared to its counterparts. No doubt, it is a major attraction for immigrants who intend to spend less and save more overseas.

Prospective Immigrants are on a look out for such country, and as the opportunity arises they immigrate as soon as possible. Yes a large number of professionals wish to immigrate to the beautiful European country, but one will be surprised to know that a larger number of business professionals are eager to start a fresh in Hungry. Therefore,it’s no more a hidden fact that Hungary Business Immigration Scheme benefits attract prospective immigrants from nearly every corner of the world, round the year.

Let’s have a wide look at some of the benefits Hungary business Immigration Scheme!

• Eligible business professionals get a biometric residence card that acts as a residence permit in Hungary.
• You are eligible to travel to any Schengen member state with a limitation of staying their for 90 days during the 06 months period.
• Once you have successfully lived in the nation for five years, you are eligible to submit an application for Permanent Residence (PR) Card (Hungary Citizenship).
• Permanent Residents have access to free education.
• Easy option of tax residency (minimum business and personal tax in the whole of Europe).
• Soon to be introduced hassle-free fast track citizenship option along with visa free travel to the US and many other countries.
• No fixed requirement of age, language proficiency, education or prior business experience.
• The application process is rather fast.
• Freedom to bring your family members along.

How can business professionals immigrate to Hungary and avail the above benefits!

If you want to immigrate to the nation and start a business venture, all you have to do is to start a new company of your own. Perhaps, Hungary is the most business friendly country in the whole of Europe.For small scale companies,the cooperate tax is just 10%.

Among foreign business professionals the popular form of company is KFT (single person owned LLC). Based on your annual income Hungarian companies are issued a VAT number and are required to file tax once a year. To form a firm, you are required approx EUR 10,000.It is one of the fastest procedures which takes not more than 1 to 2 weeks.

Once you have formed your company, and have obtained all necessary documents, you are eligible to present an application for a long term visa.Initially, a 30 day ‘C’ Entry Visa will be issued. And once you are in the nation, you will receive residence visa in the shape of the “Temporary” Residence Card, called Biometric Residence Card.

It will enable you to live in other European nations of Schengen, and reside there for a maximum of 90 days in 6-month time-frame. The card is legally legitimate for 12 months or 1 year and post the same annual renewals are carried-out. In the wake of r5 years of stay in the nation, you will become qualified to present an application for the prized and the much sought after Permanent Residence Card.