Located in Central Europe, the Unitary Parliamentary Republic of Hungary offers excellent atmosphere and opportunities to all including the dynamic businessmen and investors. There are vast Business Opportunities in Hungary.
The country has capitalized on its amazing geographical location, and has become a logistics and manufacturing powerbase. It is an ideal place, either to expand existing firms or establish a completely new firm, courtesy its well-developed infrastructure, well-built industrial sites, science parks, official space, and cheap & educated labor.
Governmental incentives for the foreign business professionals, in the form of subsidized services and tax allowances, are major pull for numerous foreign firms looking for an opportunity to grow. The decades old investment friendly economic policies of the nation has started delivering results, in terms of country’s economic growth.
The popular industries in the country are Information Technology (IT), food processing unit, poultry and egg plant, textile manufacturing, plumbing, etc.
Business Opportunities in Hungary, mainly in its capital city, have been unexpectedly enhanced over the course of the past few years as a result of tremendous increase in the number of companies established here. But despite of the number of attractive incentives, establishing a business venture in Hungary can be somewhat tricky and complicated.
Perhaps, if you are thinking how you can make the most of the business opportunities in Hungary, then the Residency Bond Programme is the answer to your prayers. Blessed with several benefits, the programme has been successfully attracting numerous investor immigrants to its shores. As per some economists, the programme is widely accepted, especially by those who are looking for an opportunity to invest in Hungary or in Europe.
You will be surprised to know that besides the personal net worth or management experience the country does not ask for any specific qualification. However, the concerned Hungarian Immigrant officer reserves the right to call the applicant for a personal interview.
The widely accepted programme requires an investment of EUR 300,000 in government bonds, for a fixed period of five years. Once the tenure ends, applicant receives back his capital in full, at zero interest rate.
At the initial state, the investor is issued a Permanent Residence (PR) Visa with a validity of five years. At no extra cost the PR Visa can be renewed, and if you wish to become a Hungarian resident, then you can apply for the same soon after eight years of your stay in the country.
Certain changes were made in the programme in July 2016 and according to which the processing time has been substantially reduced and now it stands at just four weeks.
Hungary Business Programme Top Points
Thermal water cave system, rich cultural history, and an array of lakes have made Hungary a very hot immigration destination amongst the international tourists. But it’s more than lakes and water systems that have added colors to its beauty and made it win the race of migration destination. Immigration to Hungary is quite simple if you follow the right steps and hire a trusted immigration partner for your Hungary Immigration Visa.
It’s a place where candidates get attracted to its significant art, music and culture. Being a part of the European Union (UN), it has added many colors to its vibrant features that can attract anyone to get settled in the country.
There are many visa categories that allow immigration to Hungary, such as Transit Visa, Work Visa, Student Visa, Self-Employment Visa, etc. But there are two visa categories that are most popular amongst the migrants because of their generous features that these bestow on the wishful candidate.
Immigrant Investor Visa
The candidates from across the globe is invited to make an investment in Hungary with a certain fixed amount, i.e., EUR 300,000 for a period of 5 years through government bonds, and an additional investment of EUR 60,000.
In lieu of this investment, the applicant gets the residency in the nation which he can renew year after year. This investment is for 5 years. After this the amount is returned to the applicant without any interest whereas he can keep the residency. This programme also allows him to get his PR status converted into the Hungarian citizenship after a period of 8 years.
Business Immigration — Immigration to Hungary
This gateway seems promising to those people who wish to establish their business in the country. It allows them hassle-free migration to the nation along with his family. Out of many, the KFT is the most famous amongst the business people. A wishful migrant under this program needs EUR 10,000. All the necessary help is provided to the applicant during the immigration process. The good thing about this specific scheme is that it takes just 30 days to complete the formalities.
In an attempt to favor business people and help them do well in the nation, very less corporate taxes are levied on them, and this amount is least as and when compared with other European countries. When a businessman is able to start his company, then he is provided with a VAT number under which he is required to file tax depending on his annual income.
Once the formalities are rightly met, then he is asked to submit application for long term visa at the Hungary Consulate, and he can submit this from his residing country. At first, the candidate gets 30 days visa and when he reaches in the country, he is issued a residence permit. This permit is basically a Biometric Residence Card that is issued to him.
Business Immigration to Hungary — Benefits
Here are some of the benefits that are enjoyed by migrants in the landlocked country-