Immigration is taking place universally in the world, every single day. The number of refugees, expatriates, immigrants of different types and visitors head north by 10s of millions per annum, as people try to spend time with those who matter, to do a job overseas, and to reside somewhere else.
Immigration to Hungary, a Unitary Parliamentary Republic, is jumping on a yearly basis. With a view to manage and administer this movement, the overseas hotspot has set up an efficient immigration & visa system.
Hungary — A Brief Intro
The Unitary Parliamentary Republic of Hungary is located in Central Europe. It shares its borders with Slovakia, Romania, Serbia, Croatia, Slovenia, Austria and Ukraine, and has a population of more than 10 million people.
The extensively visited destination is regarded as one of the most developed places in the world. Its cities like Budapest, Heviz, Siofk, Sopron, Pecs, and Eger are quite popular among immigrants worldwide.
The country is a dream of those especially who wish to settle in Europe. It is a member of many international organizations, such as European Union (EU) and Schengen Area. The land-locked nation is well-known for its rich history even as it significantly contributes to areas like sports, arts, literature, science, music and technology.
Immigration to Hungary
Coming back to the key topic, Immigration to Hungary, it is a dream of many including business people, investors, and skilled workers.
Popular Hungary Immigration Programmes
The nation runs two very popular immigration streams. Applicants are required to make a quick investment–either by forming a completely new company or by making an investment in government sponsored bonds.
Immigrant Investor Programme
Let’s talk about this first! The nation welcomes foreign investors and business people, with the right proposal and net worth, to come and settle on its soils and help expand its economy. Those who are most capable are prized with the Hungarian Permanent Residency (PR).
Under the programme, one requires to make an investment of at least EUR 3,00,000, for a maturity period of five years in government sponsored bonds. Additionally, the applicant requires making an extra investment of EUR 60,000 even as the total investment amount comes to approximately 360,000.
After the maturity period, the applicant can easily withdraw their investment but still they can get to keep the valuable PR. Another major advantage is they can apply for citizenship once they have lived in the country for at least eight years.
Hungary Business Immigration
It is also a well-liked immigration category, all the applicant is required to do is to form a completely new business in any of the city in Hungary, and come to the nation as a business immigrant along with his family.
KFT (single person owned LLC) is the most popular form of company among foreign business people. To start, all you require is EUR 10,000. The government completes the formalities really fast, and it does not take more than 30 days to do the needful.
The nation is a business friendly country, and it offers favorable business environment and so for small scale companies the corporate tax has been restricted to just 10% which is the lowest in any European country. Once the company is formed, it (the firm) is issued a VAT number, and using the same it can file tax based on its annual income.
After the formation of the firm is done, and every required document is received, the non EU candidates can submit an application for long term visa at the Hungary consulate in their specific nation.
In the beginning, the candidate will be offered 30 day C entry visa, to gain admission into the nation, and once he is there in, he will be offered Residence Permit in the form of Biometric Residence Card.
Immigration to Hungary — Benefits
Let’s take a quick look at the benefits! Once you immigrate to the country and get a PR Visa, you get to enjoy numerous benefits that are beyond your expectations such as you can bring along your family, and can travel without applying for an additional visa to the European Union (EU) and the Schengen Zone. You are greeted with low cost of living, and get a very good business environment.
