If you are a business owner, director or managing partner of a company, you might be eligible to apply for the Business Residence Program in Hungary. On this page, we will discuss the details of the program, its benefits, and how we can help you apply for and obtain your permit.
What exactly is the Business Residence Program in Hungary?
The Business Residence Program in Hungary is a business immigration program that allows entrepreneurs and investors to move to Hungary on a permanent basis. Through a business investment, board members can also immigrate to Hungary if they do not plan on opening their own business in Hungary.
What are the requirements for obtaining a Hungarian business residence permit?
- Applicants need to own or be board members of a company registered in Hungary
- Individuals need to make a short visit to Hungary to open a company bank account
- Proof of a business plan and trading activity, either in Hungary or internationally
- Proof of rented or purchased accommodation
- Proof of travel insurance of local state health insurance
- Proof of verifiable income from the business or from other sources
- A clear criminal record
How does it work?
When applying for a Business Residence Program in Hungary, you will have to apply for a long-term residence “D” visa in order to visit the country. The residence permit is then issued and valid for a period of two years after which it can be renewed within Hungary.
Before entering Hungary, you need to apply for a short-term business visa so that you are able to enter the country and open a Hungarian business bank account.
With the permit in hand, you have a temporary residence permit with which you can travel, live, and do business within Hungary. You are also entitled to purchase property within the country and visit the Schengen countries, with a maximum stay period of 90 days within 6 months.
When can I obtain permanent residence?
A Business Residence Permit is valid for two years, after which it can be extended for another two years. After staying in Hungary for five continuous years, you become eligible to apply for a Permanent Residence Card. Any person applying for Hungarian permanent residency should have stayed in the country for a period of 183 days per year and must not have been absent from the country for more than 6 months.
And what about citizenship?
After living in the country and obtaining a decent knowledge of the Hungarian language, you are eligible to apply for Hungarian Citizenship after living and working in the country for a period of 8 years.
Need more information?
Here at Hngary.com, we are a team of immigration lawyers that specialise in assisting our clients with all their documentation in order to move to Hungary. If you need more information on the Business Residence Program in Hungary or are in need of general assistance, get in touch with us today. We offer business immigration visa assistance services to Hungary for entrepreneurs and investors!