Immigration to Hungary is often not a straightforward process. While there are several options for getting a Hungarian residency, guiding through the complex legal process can be challenging. Crystal Worldwide Group offers a wide range of business immigration and works permit services, which can simplify the procedure of migrating to Hungary.
The benefits of migrating to Hungary
1. Central European location
Hungary is located in the heart of the European Union. It has two major airports along with a developed highway network, so reaching the neighboring countries and other international destinations is quick and easy. The capital of Hungary, Budapest is one of the largest EU cities with a culturally and ethnically diverse population. The capital transitioned to one of the most influential financial hubs of the Central European region.
2. Visa-free traveling
187 countries can be visited visa-free by Hungarian nationals. A Hungarian passport may allow visa-free travel to every European country, Canada, the USA, and many other destinations. According to the Guide Passport Ranking Index, the Hungarian passport ranks 10th place.
3. Access to high-quality health care
Hungarian medical care is usually free of changes. Primary and secondary healthcare is covered by the National Health Insurance Fund of Hungary (Nemzeti Egészségbiztosítási Alapkezelő, NAEK). Some forms of rehabilitation, pharmaceuticals, and dental care may not be financed by the state. Hungarian nationals and those who have Hungarian residence permits are entitled to receive medical care.
4. Right to live and work anywhere in the EU
Would you like to work from the coast of the Tyrrhenian Sea? Are you looking for a legal option to spend a few years in the Swiss Alps? Hungarian nationals and residence permit holders have the right to live and work anywhere in the EU and EFTA member states.
5. Affordable living and operating costs
Despite the central European location, Hungarian living and operating costs are significantly lower compared to Western European countries. Based on the findings of a study published by Statista, the average cost of registering a private limited company in Hungary is less than half of the EU average.
6. Great public safety and low natural disaster risk
The Global Peace Index is an annual report conducted by the Institute for Economics and Peace. According to the latest report, Hungary is the 19th safest country in the world. The number of serious crimes developed in Hungary has also remarkably decreased in the last 20 years. Besides the great public safety, Hungary also has a low natural disaster risk.
7. Low corporate tax
You can start your new business in Hungary where the corporate income tax rate is 9%, which is the lowest in the EU. Despite the extremely favorable taxation system, Hungary is not seen as a tax haven. Thanks to the low operating cost, preferential corporate tax rate, and qualified workforce, Hungary is a prime location for setting up an EU firm.
How to Immigrate to Hungary
1. Hungarian citizenship
The nationality law of Hungary is based on the principle of jus sanguinis. Hungarian citizenship can be acquired by naturalization or ancestry.
Of these two options, the former can take years, while the latter is usually quicker. Getting Hungarian citizenship by ancestry is the most frequently chosen method to become a Hungarian national. More than a million people have applied for the simplified naturalization process by 2019.
2. Hungarian work permit
Immigrating to Hungary with a Hungarian work permit is a complex procedure. Without proper legal assistance, cutting through the red tape can be difficult. Crystal Worldwide Group does not offer guidance for Hungarian work permit applicants.
3. Hungarian residence permit
Hungary offers residence permits to non-EU nationals who want to work, study or live in the country. The most popular Hungarian residence permit is designed for Guest Investors, what is sometimes called the Golden Visa. You can find here more information about the Guest Investor Residence Permit.
4. Hungarian Investment Immigration Program (The Hungarian Residency Bond)
This option is not available anymore. The Hungarian Investment Immigration Program offered lifelong residency for investors and their close family members. The Hungarian Residency Bond was for 5 years long, state-guaranteed investment with a minimal value of 300.000 EUR.
5. Business purpose immigration
As you have read, establishing a company in Hungary comes with countless advantages. Beyond the central European location, the favorable corporate tax rate, and the qualified workforce, there is one more benefit to consider. The Guest Self-Employer Residence Permit Program is a business immigration program that offers permanent residence permits to foreign business people in Hungary.
6. Hungarian student visa
Hungary is among the most popular European study abroad destinations. The increasing popularity may be explained by the extraordinary quality of education, the welcoming culture, and the affordable tuition fee. To receive a Hungarian student visa, your application must have been accepted by a Hungarian university.
7. Required documents
The required documents depend on the type the residence permit but following documents must be submitted in general for the Hungarian residence permit application:
- Confirmation of valid health insurance
- Evidence of accommodation
- Evidence of sufficient fund (e.g. bank statement)
- Passport size photo
- Permit application form
- Proof of health insurance
How can we help?
Crystal Worldwide Group is an international business consulting firm which is specialized in business immigration, second citizenship, tax planning and asset protection. During our more than thirty years in operation, we have managed to earn the respect and trust of our clients by offering professionally sound and lawful solutions for tax savings and asset protection, together with fast and timely services provided at the highest level of discretion.