Business Opportunities In Hungary
Hungary-a Unitary Parliamentary Republic-lies in the heart of Europe, and it shares its geographical borders with seven different nations. Skilled and talented visitors positively affect the economy of the nation and they are invited to make the most of the business opportunities in Hungary.
The nation is an important member of the European Union (EU) and of the Schengen visa area. The price of living in the country is considerably lower, vis-à-vis other nations in Europe (e.g. property, utilities, public conveyance, schools, private clinics… all of these are low-priced).
For those not tuned in, the nation’s economy is quite liberal and it invites lots of foreign investors who have the necessary funds and the inclination to do business or make profitable investments in the nation. There are many industries that are thriving in the country, such as mining, chemical, food processing, etc.
Understanding the Business Immigration Process
The person keen to settle in the EU nation can pick up the most suitable out of its different visa and immigration categories, for landing and doing business in the nation. Though Hungarian is the spoken language, the candidates well versed in English and German can easily make a move to the country that is famous for its lakes and the Hortobagy National park.
A person needs to grab the prized and the much sought after Permanent Residency (PR) before establishing business concern in the country. This is a key requirement that qualifies him to settle through the Hungarian Entrepreneur Residency Programme.
The nation’s immigration and visa rules and policies are fairly flexible and migration friendly. It takes 1-2 weeks to establish a small scale industry that levies the corporate tax of less than 10%.
The Hungarian Business Immigration Plan starts with the submission of elaborate business plans fully supported by an application. Poultry and eggs are the widely consumed staples that lay a positive background for migrant who wish to start a business in this field. With more opportunities opened in the mining and chemical sector, a migrant can look up for investment plans in these particular categories as well.
A candidate should explain the business plan along with the reasonable suggestions for its success. The business plan will support the investor and his family, and it should be clearly explained in the plan. Upon successful establishment of the company, and when the applicant receives all the necessary documents, he should apply for the long term visa at the Hungarian Embassy or Consular Office.
In the beginning the applicant is provided with a 30 day Visa. For which a Biometric Card is issued to him, allowing him to live in any of the European country.
Apply for Temporary Residency
Upon successful implementation of the business plan and establishment as per the norms of the Hungarian Immigration Programme, the applicant applies for Temporary Residency of the nation. And when he becomes a resident, his spouse and children applies for their temporary permits. This permit allows migrant and his family to live in the country for a period of 1-5 years.
Apply for Permanent Residency (PR)
Once the main candidate and his family has completed three years of living in the country, they submit an application for PR after meeting the mandatory condition of successful business that adds on to the national economy. If the main applicant can support his family in the country he is eligible to apply for their PR.
It is also expected that the aspirant does not possess any criminal background and can sustain his living in the nation with the help of his resources and the spoken languages of the country.
In a layman’s language, make an investment of only EUR 300,000 in the Government bonds and receive the 5-year Hungarian Permanent Residency (PR). It covers your family (significant other and kids). Make a trip to every nation of the Schengen EU, minus a visa and whenever you feel like.
Summing-up, if you are motivated and have the required funds, and wish to make it really BIG on an excellent global platform, then look no further! Exploit the wonderful business and investment environment offered by Hungary to the enterprising businessmen and investors like you. Fruitfully use the business opportunities in Hungary! Go for the kill!
