How to Get Hungary Investor Visa
Hungary is a wonderful place to live and work, and many travelers, immigrants, expats, and business investors agree. This EU country has low living costs and high-quality education, health care, infrastructure, telecoms, transport, and more. Its rich history makes it a fascinating European hotspot to relocate to.
If you are an entrepreneur who wants to start a business in Hungary, you may be interested in the Hungary Business Visa program. This program allows foreign investors to obtain a residence permit in Hungary by opening a commercial enterprise in the country. In this post, we will explain the benefits, requirements and process of applying for the Hungary Startup Visa.
The Hungary Startup Visa 2023 offers many advantages for foreign entrepreneurs who want to launch their business in Hungary. Some of the benefits are:
●You can obtain a residence permit for yourself and your family members (spouse and minor children) by investing a minimum of 10,500 euros in your business.
●You can enjoy the freedom of movement within the Schengen Area, which includes 26 European countries.
●You can access the Hungarian market of about 10 million consumers, as well as the European single market of over 500 million people.
●You can benefit from the low corporate tax rate of 9% in Hungary, which is one of the lowest in Europe.
●You can take advantage of the skilled and affordable labor force, the high-quality infrastructure and the favorable business environment in Hungary.
●You can apply for Hungarian citizenship after eight years of continuous residence in the country, if you meet the other criteria.
To be eligible for the Hungary Startup Visa, which is one of the Hungary investment visa requirements, you need to meet the following criteria:
●You must be a non-EU/EEA/Swiss citizen who is at least 18 years old.
●You must have a valid passport and travel insurance that covers your stay in Hungary.
●You must have a clean criminal record and no security or public health risks.
●You must have sufficient financial resources to support yourself and your family during your stay in Hungary.
●You must have a viable business plan that demonstrates the potential of your business idea, its marketability, its profitability and its social impact.
●You must register your business as a sole trader, a limited liability company or a single-member company in Hungary. You must also obtain any necessary permits or licenses for your business activity.
●You must have a registered office address and a bank account in Hungary.
The process of applying for the Hungary Investment Visa consists of the following steps:
Step 1: Prepare your business plan and your corporate documents with the help of a Hungarian attorney-at-law. The attorney-at-law will also countersign your documents and represent you before the authorities.
Step 2: Submit your application for the startup visa at the Hungarian consulate or embassy in your country of residence. You will need to provide your passport, travel insurance, proof of funds, criminal record certificate, business plan and corporate documents. You will also need to pay an application fee of about 60 euros.
Step 3: Wait for the decision on your application, which may take up to 30 days. If your application is approved, you will receive a visa that allows you to enter Hungary and start your business. If your application is rejected, you can appeal within eight days.
Step 4: Arrive in Hungary and register your address and your business at the local authorities. You will also need to apply for a residence permit card at the immigration office within 15 days of your arrival. The residence permit card will be valid for one year and can be renewed annually.
The residence permits that you can obtain through the Hungary Investor Visa or the HER Program are either temporary or permanent.
●Temporary residence permit (valid for three years): After registering your business and complying with all the formalities and paperwork, you can apply for a temporary residence permit for yourself and your family members. This permit allows you to live and work in Hungary for up to three years.
●Permanent residence permit: In order to apply for a permanent residence permit, you and your family must have been living in Hungary on your temporary residence permits uninterrupted for a minimum of three years. You must also prove that your business is profitable and able to sustain your family in Hungary, as well as meet the other requirements for the permanent residence permit.
The Hungary Entrepreneurs Visa is an attractive option for foreign entrepreneurs who want to start a business in Hungary in 2023. The program offers many benefits, such as access to the Schengen Area, low taxes, high-quality infrastructure, and a favorable business environment. The requirements are reasonable and the process is straightforward.
To get started with your Hungary Startup Visa application, you can reach out to our expert advisor at 8595338595 or [email protected]. They will help you craft a convincing business plan and guide you through the application process.