Obtaining a Hungarian Residence Permit

Friends, we continue to familiarize you with successful closed cases of our clients. Today we have the story of a family who obtained a Hungarian residence permit through business immigration. For many applicants, Hungary becomes the first intermediate stage for further relocation to Europe. Our clients have obtained a residence permit for this very purpose.

Advantages of business immigration to Hungary:

• Running your own business in a country with a rapidly growing economy;
• quite loyal tax policy. Corporate tax in Hungary is one of the lowest in the EU and is 9%;
• the opportunity to take advantage of government support for start-up entrepreneurs;
• possibility to include husband/wife and children in the application for a new status;
• a chance to obtain a residence permit after 3 or 5 years of stay in the country (it all depends on the type of residence permit), after 8 years - a Hungarian passport;
• Hungarian resident status allows you to move freely around the Schengen countries and spend up to 90 days out of 180 days in each of them.

These are only the main privileges that a resident of Hungary receives, but they are more than enough to think about moving here.

Client story

Igor and Inna approached our agency about 8 months ago. The couple had a successful chain of coffee shops. At the same time, they planned to start a business roasting and delivering ready-made beans for other coffee shops and to open a business repairing and selling coffee machines. Initially, the couple considered Italy, France, and Greece to move and open a business. But at the last moment, they changed their minds, as they were invited to Hungary by an old friend of Igor's. The man had his successful restaurant and part of the vacant premises, which he offered to rent to Igor for a symbolic fee.

With these thoughts in mind, the couple turned to us for advice. They did not initially consider Hungary for themselves at all. We studied in detail their business plan for new directions, looked at their accounts, and analyzed their prospects. We also analyzed the markets of Italy, Hungary, France, and Greece to understand how promising it is to open and work in Hungary. In the course of reasoning, the guys decided to start a business in Hungary and later move to one of the European countries. Low rent, loyal tax climate, support of acquaintances in Hungary, and higher chances to enter the markets of Europe with a Hungarian residence permit - these are the advantages we came to in the end.

Having agreed on all the details, we started working and collecting documents.

Documents for a Hungarian residence permit

Igor and Inna's basic list looked as follows:

• confirmation of the necessary level of financial resources for a comfortable life in the country - bank statements, lease agreements for apartments and warehouses;
• information about the availability of housing in Hungary - in our case Igor's partner offered a free room in his house for the first period of the couple's life in the country;
• an issued health insurance policy;
• current passports of the husband and wife;
• a signed commitment to leave the country in case of refusal to grant a residence permit.

Since in this case, it was a business immigration, candidates had to provide proof of purpose for being in the country:

• Documents confirming that the applicant is registered as a legal entity (private entrepreneur).
• A detailed business plan.
• Contracts with counterparties for the provision of services.

In the process of considering the applicant's application, the competent authorities may request additional documents and certificates.

The terms of registration of the entrepreneur's activity on the territory of Hungary are up to 10 days. The decision to issue a residence permit takes up to 21 days. The residence permit status on the basis of registration of own business in Hungary is issued for 3 years and it can be prolonged once for the same period. 

For our applicants, this term was quite optimal. They expected that in 1.5-2 years they would be able to move to one of the European countries and develop their own business in another country. 

Stages of registering a business and obtaining a Hungarian residence permit

Together with our clients, we have gone through the following stages:

• Company registration. We have formed the application and forwarded it to the registration court within 30 days from the date of formation and certification of the constituent documents. The application is forwarded in electronic format and digitally signed by a lawyer. After the end of the procedure, the responsible service issued a certificate, where the name of the legal entity, tax and statistical numbers, legal address, and unique identification number of the company are prescribed. Then we transferred information about our legal entity to the Chamber of Commerce and Industry for registration. 
• Transfer of documents for residence permit status. In our case, the applicants were not located in Hungary, so we applied to the country's consulate. Along with the documents, we submitted a request for an entry (visitor) visa.
• Receiving a decision on the application. After reviewing the documents, the immigration authority notifies the diplomatic mission of the result. On its instructions, the service issues a Hungarian business visa type D to the applicant. This permit allows you to stay in Hungary for up to 30 days.
• Registration of residence permit. After obtaining a visa and entering the country, a request is submitted to NDGAP. Within 60 days, the authorized service sends the residence permit card to the applicant. The resident can also pick up the document in person.

It took our clients about 5 months to go through all the stages: from forming an accurate request to moving and receiving a residence permit.

“We are very glad that we turned to the specialists of GARANT.IN agency for help. They very accurately outlined to us the prospects of obtaining a Hungarian residence permit and convinced us to start from this stage. As a result, such a decision cost us cheaper and more effective. Now we will be able to travel freely to EU countries, develop our business, look for future business start-up points, and study markets in different countries. With gratitude, Igor and Inna A.”

Friends, as you can see, the intermediate option of obtaining a residence permit in another country in some cases is faster, easier, cheaper, and ultimately more promising. If you are planning a business relocation or dreaming of a new status in a developed European country, our lawyers are already waiting for you for a consultation. We will relieve you of the lion's share of tasks and paperwork while making sure that you reach your goal faster and in a minimum period.