The Terms of Business Immigration to Hungary
“Business Immigration” is not a legal term. In the everyday speech we speak on “Business Immigration” when a foreigner starts a new company in Hungary and he and his key foreign employees move to Hungary to manage and work for the new company.
In the application process of the “Business Immigration” the applicant has to prove to the authorities, that he has all the legal permissions to do business in Hungary and he can finance his or her living from the profit of his business activity.
Everybody who wants to make “Business Immigration” to Hungary, has to establish a company in Hungary. Everyone who wants to open a new company has to travel to Hungary at least once, to open the bank account of the company.
The most popular company form among the foreign is Limited Liability Company (LLC, or Korlátolt Felelősségű Társaság in Hungarian). Minimum capital requirement of the LLC is 3 000 000 Huf (around 9 500 € or 10 000 $). The capital requirement has to bee paid to the bank account of the company and it could be used on the behalf of the company business.
The CEO of the company and the key employees could get a work permit and a residence permit. From 1st of Jan 2014 the work permit and the residence permit applications has to be filled in one merged application in a so called “single application procedure”. The name of the special application form is “Residence Permit for the Pursuit of Gainful Activity”. The validity period for a residence permit granted for the pursuit of gainful activity is maximum three years, and it may be extended by maximum three additional years at a time.
WHAT PAPERS DO I HAVE TO FILE WITH MY APPLICATION IF I WAN TO DO A BUSINESS IMMIGRATION TO HUNGARY
Verifying the Hungarian Accomodation
The a applicant has to prove that he can reside somewhere in Hungary. It could be proved by a real estate register, rental contract, or a document on accommodation by courtesy
Verifying the subsistence for residence
The applicant has to prove that he or she can finance his/her living in Hungary. It can be proved by a bank account account statement or an employment contract. If the employer is a newly established company, the business plan of the company has to be attached. The business plan must prove that there will be enough income for the salaries and the taxes for employing the applicant. (probably the minimum capital requirement of the LLC won’t be enough).
Comprehensive health insurance
The applicant shall provide proof of having access to comprehensive health insurance services in Hungary. (Eu blue card)
Evidencing the conditions of exit
The applicant has to prove that after the residence permit validity expire he could leave Hungary (It could be proven by plane ticket, or by sufficient bank account statement)
Our office can check whether the applicant could eligible for work and residence permit. We can write and file the applications.
We can prepare the compulsory documents for the application. The application for work permit and residence permit has to be filed int the Hungarian Embassy of the