Hungary Business Immigration

Hungary is a landlocked country in Central Europe, an EU member and falls within the Schengen zone. The capital is Budapest, a beautiful tourist destination. Hungary’s national currency is the Hungarian forint (HUF). The exchange rate is approximately HUF 250  for a single US dollar.

Benefits

  •     EU member country
  •     Visa free travel to schengen and other EU countries
  •     Cheapest Immigration Program in Europe
  •     Affordable and Cheaper cost of living in Hungary

We offer business immigration program to our clients to move to Hungary. Just form a new company in Hungary and as a business owner, you can move to hungary with your family. The most popular form of company among foreigners is Kft (single person owned like LLC). The minimum capital required to form a company is approx EUR 10,000 (3,000,000 HUF).  One of the advantages of incorporating a company in Hungary is that there is no obligation to deposit the share capital in the bank, and 100% of this capital can be spent immediately after incorporation on company-related expenses.

The company formation is very fast and usually it takes 1-2 weeks. Hungary is a business friendly country and corporate taxes are 10% for small scale companies. Hungarian companies are given VAT number and are required to file taxes every year.

Here is how it works…

To start this process.

With new regulations, it is no longer possible to form a company by postal mail. You have to come to Hungary in person to form a new company and open bank account. We help you to get business visa (invitation letter) to visit Hungary, you come here, do market research and form the company. (little expensive but whole process is faster). You can stay only for limited 30 days, return back and apply for residence permit in Hungary embassy in your country.

Please note that EU countries no longer stamp residence permits in passport and instead biometric cards are given, as of March 2012.

This “temporary” residence permit (biometric) allows you to stay in other european schengen countries and stay there for upto 90 days in 6 month period. Further you can live, work in any job sector, do business or even buy a property with the residence permit card. There are several advantageous if you are buying a property through your Kft company. The residence card is valid for 1 year and after that yearly renewals are done. After 5 years of stay in hungary, you are eligible to apply for “Permanent residence card”. You will need to have long term health insurance as well to renewals.

 Hungary Business Immigration Package – Fee and Charges

YEAR ONE PACKAGE – ALL-INCLUSIVE:

Our package costs EUR 4990 (+ 27% VAT if applicable). It includes everything necessary for launching your company and applying for residency based on business ownership.

  1. Company incorporation (including all legal fees and  registration taxes; documentation in Hungarian and English; bank account assistance; VAT registration; chamber of commerce registration and membership fee)
  2. Registered office (address and mail handling for the company, for one year)
  3. Business plan writing (compulsory for the residency application to show the viability of the business as well as the applicant’s role in it; our package includes a basic business plan as required for immigration, drafted based on the applicant’s input – please note that in some complex cases preliminary market research may be required, at extra cost)
  4. Residence permit application  (for one person; liaising with the embassy, compiling the applicant’s file for submission and delivering it via courier)
  5. Tax number, registration into the social security system
  6. Invitation letter (if required for the applicant’s visit when opening bank account)
  7. Housing search

The above package covers one director’s residency application and all fees related to setting up and running the company for one year. For additional directors or family members, we offer add-on services (residency application: EUR 600/person; tax number: EUR 100/person; social security number: EUR 100/person; personal assistance: EUR 25-40/hour). If the above package does not cover your requirements fully, we will happily compile a customized quote for you.

Other expenses to be expected:

In addition to fees payable to Helpers, please bear in mind that you will incur various expenses while setting up your business and life in Hungary. These are the following:

  • cost of accommodation (rental or purchase)
  • insurance (travel insurance before you get residency and state health insurance after)
  • the investment required for setting up and running your business activity (depending on the activity it may include: office/warehouse rental, licensing fees, salaries, stock, etc.)
  • Accountancy (approx EUR 100 per month)

Once we know more about your plans, we will be happy to estimate these for you.

Residency in Hungary through business ownership – Benefits:

  • quick and easy incorporation process (possible via POA)

  • low corporate tax (10%)

  • EU and Schengen member country

  • available to all nationalities

  • no requirement to live in Hungary full-time

 

Main requirements:

  • locally registered, fully compliant company with bank account and accountancy

  • at least one short visit to Hungary (for opening bank account)

  • solid business plan and actual trading activity (in Hungary or internationally)

  • rented or purchased accommodation

  • full travel insurance or (after residency is acquired) local state health insurance

  • verifiable income from the business and/or from other sources

  • no-criminal-record certificate issued by your local authority (or police)

 

Our Full List of Services in Hungary

1. Company incorporation.

2. Housing and Accomodation (must for visa)

3. Tax and EU VAT registration

4. Bank account opening (only possible if you are in Hungary)

5. Residence permit/visas for family members.

6. Accounting / Reporting to tax authorities.

7. Virtual office service and company seat.

8. Real Estate services.

9. Airport welcome service.

10. Translation from English to Hungarian or vice versa.

11. Personal assistance.

12. Emergency services.

13. Market research.

14. Business Invitation letters

 

For more information on applicable fee and additional costs, please contact us.