Why HUNGARY?

Hungary is a great choice, with several options available to clients of all nationalities and backgrounds. You can get a temporary or permanent residence permit though employment, starting a business in Hungary, family status, and so on. 

Residency Options

RERP ( Real Estate Residence Program )

Real estate investment in Hungary is one of the fastest and easiest way for you to become an EU resident through investment. This program is similar to well-known programs available in Spain or Portugal – but it costs much less, and the processing time is much shorter.

 

 

As Hungary is a full member of the Schengen zone in Europe, your Hungarian residence permit will allow you and your family to travel visa-free within the whole Schengen area.

 

 

The popularity and significance of Hungary, located in the heart of Europe, is increasing rapidly and the fact that it is both a part of European Union and also falls under the Schengen zone only adds to it. The perks of having a Hungarian residency permit are many. One can travel through out most of Europe without a visa! The well connected Hungarian capital, Budapest, offers a peaceful environment with an extremely low crime rate and affordable cost of living.

 

 

The flourishing real estate market in Budapest has a growth rate of about 15% every year as predicted by experts. The demand for rental property is high and thus the investment in real estate is a risk free investment which will ensure adequate returns through rent and thereby serve as a secured source of earning to survive decently in the country. Thus, this qualifies an individual to apply for residence permit under the Real Estate Residence Program (RERP).

 

 

After your residence permit based on your real estate investment is granted, your family members can get residence permits as well on the grounds of family unification.

 

 

The whole process is taken care of by us, you only have to make the key decision based on the options we have researched. First, you will choose the apartment and you will start the buying process. After, your residence permit is granted within 2-3 months. You can get residence permit for this period as well.

 

The permit will have to be renewed annually for the first 3 years, after which you can apply for permanent residency.

 

 

The minimum investment amount is EUR 200,000, you can buy a great apartment at Budapest with this amount. As the property market in Budapest is growing 15% annually, the profitability of the investment is practically guaranteed.

Hungary Business Residence Program

You can explore our business immigration to Hungary service for entrepreneurs and investors with visa assistance. The Hungary business residence program is the cheapest investment program in Europe requiring a minimum investment starting from €40,000.

Benefits

 

  •    EU member country   Visa-free travel to Schengen and other EU countries  Cheapest Immigration Program in Europe    Affordable, Low cost of living in Hungary

 

Hungary offers temporary and permanent residence permits to business owners doing an active role in their company as directors or managing partners. To accomplish this you need to do the following:

 

  • Establish a Hungarian company and buy a small business ( we are handling all the process for you ) Ensure that all requirements for the company’s successful operation are met.

 

Once your business permit is issued your spouse and children may also apply for family unification and come to Europe. This program is open to all nationalities.

 

We offer a business immigration program to entrepreneurs and investors to move to Hungary. Just form a new company in Hungary, you can immigrate to Hungary as a board member or director through business investment. The minimum investment including all costs required is EUR 40,000 for non-EU foreign citizens. The most popular company form among foreigners is LLC (or Kft in Hungarian). The minimum capital required to form a company is approx EUR 10,000 (HUF 3,000,000). One of the advantages of incorporating a company in Hungary is that there is no obligation to deposit the share capital in the bank, and 100% of this capital can be spent immediately after incorporation on company-related expenses (e.g. investment, warehouse rental, stocks, market research).

 

We charge a flat fee with all services necessary for starting your company included in the package; The fee includes additional costs such as (e.g. travel, insurance, accommodation, employees, etc.).

 

Please note: This is Important: You must come to Hungary in person (if you have a Schengen visa) to start the immigration process for Hungary Business Residence Program (HBR). It is not possible to apply for the Hungary program without coming to Hungary. We do not give Visas from Hungary. Hungarian rules require foreigners to be personally in Hungary to open a bank account and incorporate a company. 

 

The company formation itself is very fast and usually takes 3-5 days. Hungary is a business-friendly country and corporate taxes are 9% for small companies. Hungarian companies are automatically given an EU VAT number. Having a business in Hungary is open doors of the European Union.

 

Residency in Hungary through business ownership – Benefits:

 

  • Quick and easy incorporation process (possible via POA)low corporate tax (%9)EU and Schengen member country are available to all nationalities no minimum stay in Hungary requirement. You must enter Hungary once a year. (as a businessman you may travel without limitations) Family members can get their residence permit via family reunification in 30 days, they will be eligible to apply for Hungarian residence permit after the owner gets permitted. Family members can travel to Hungary for application or they can apply from their country. After 7 years owner ad family members will be eligible to apply for Hungarian citizenship.  

 

Main requirements:

 

  • the locally registered, fully compliant company with a bank account and accountancy at least one short visit to Hungary (for opening a company bank account)solid business plan and actual trading activity (in Hungary or internationally)rented or purchased accommodation full travel insurance or (after residency is acquired) local state health insurance verifiable income from the business and/or from other sources

 

How it works?

 

To start this process:

 

We help you to set up a company and based on your business, you can apply for long term residence “D” visa to visit Hungary (apply at Hungary consulate/embassy in your country) or you can apply in Hungary. We assist all of the application processes. Residence permit cards are issued for a maximum of 2 years and must be renewed in Hungary.

 

After set up company process finalized you buy you small business under your company and this business starts generating income.

 

We have two management options for your small business.

 

  1. We can run your business full time and you can control all the financial process. This operation can continue until your moving process to Hungary finalized or long as you want. You can stay in your country and with your residence permit visit your business sometimes.

  2.  You can take full control of your business from the beginning. We will assist you every step for success of your business.

 

Applicants will need a short-term business visa to enter Hungary to open a bank account or to register a company. We provide invitation letters to our business partners.

 

This “temporary” residence permit allows you to live, travel, and do business in any sector with partners all over Europe Schengen area and beyond. You can also buy a property with the resident permit card.

The resident card is valid for 2 years and can be extended for another 2 years. After 5 years of continuous stay in Hungary, you are eligible to apply for a “Permanent resident card”.

 

Permanent residency

 

Permanent residency possible in Hungary after 3 years.

 

Hungarian Citizenship

 

You can apply for citizenship after 7 years of living in the country with knowledge of Hungarian language.

 

Our Full List of Services in Hungary

  1.  Company incorporation

  2.  Housing and Accommodation (required for residency);

  3. property management 

  4. Tax and EU VAT registration 

  5. Bank account opening (possible only if you are in Hungary)

  6.  Resident permits/visas for family members 

  7. Accounting / Reporting to tax authorities 

  8. Virtual office service and registered company seat

  9.  Airport welcome service 

  10. Translation of documents from English to Hungarian or vice versa. 

  11. Personal assistance. 

  12. Emergency services. 

  13. Market research. 

  14. Business Invitation letter to our business partners.

  15. Real estate (buying or selling)

  16. School search

  17. Legal issues through our lawyer

 

We are here to assist you regarding your investments in Hungary. Whether you want to buy a property in Hungary, or you simply need assistance with property management, The Stay Solutions team will find the best solution for you, your family or business.

 

We are working with some of the best professionals in the market. In our line of business, the key is establishing a productive working relationship and information flow between our staff, our clients, our partners, and the authorities. We will be happy to find right solution for you.

Business Services

Company Formation in Hungary

Starting a business, that is, setting up a company in Hungary takes only a few days, including VAT registration – making Hungary one of the last countries to issue EU VAT numbers automatically. Combined with a 9% corporate tax, this makes Hungary a prime business and investment destination, ideal for foreign nationals looking for a cost-effective solution or a convenient base in Europe.

 

Forming company in Hungary has several key benefits:

 

·      Stable economic and political system

·      Location in Central-Europe, in close proximity to major European core markets.

·      EU membership, NATO, OECD and World Trade Organisation membership

·      Legitimate tax-efficient solution to lower your tax payments.

·      Share capital can be paid later

·      Standard corporate tax rate is 9%

·      No withholding tax

·      Dividend payment to any resident or non-resident person is tax-free

·      Highly educated, multi-lingual local workforce

 

As a first step, we will check the availability of the desired company name at the Court of Registration. If the desired corporate name is already reserved by another company, we will suggest some alternative names based on your original idea. Once the company name is fixed, the company formation in Hungary requires the preparation and signing of the necessary incorporation documents. If you are in Hungary, we will arrange the signing of the incorporation documents at our office. Since the documents do not need to be signed in Hungary, the signing may be completed in your home country as well. In this case, however, notarization of the company incorporation documents is required. Upon receiving the duly signed documents, they will be submitted to the Court of Registration, where the company formation process is completed. The registration itself takes 1 business day.

 

Types of Companies You Can Open in Hungary

 

If you’re interested in setting up a company in Hungary, there are several types of companies at your disposal. Each has its own advantages and drawbacks, as well as registration rules. Also, all company types have their limitations in regards to approved business activities.

 

Here is a brief overview of the main company forms a foreign company or individual can open in Hungary. The following company types all require a legal personality.

 

Limited Liability Company

 

If you’re looking to establish a medium or small business in Hungary, your best bet is to go with a limited liability company (Kft). In this case, you will need a starting share capital of 3,000,000 HUF.

Have in mind that the incorporation procedure might differ slightly depending on the type of business the company is involved with. You might need to get special licenses and permits. The owners are only liable for their share of the invested capital. This is one of the least risky options.

 

If this is not the best fit for your activities, there are other company forms available in Hungary.

 

Limited Partnership

 

This type of company (Bt) must have one general (unlimited) partner and one limited partner. The former has unlimited liability, while the latter’s liability is determined by the size of their capital contribution. You don’t need starting capital to form a limited partnership.

In general, and if not specified otherwise in the articles of association, only the general (unlimited) partner can represent the company. When it comes to company registration, in Hungary you will have to pay 50,000 HUF to register a limited partnership.

A possible downside to registering this type of company is that the main partner is completely liable and bears the highest risk.

 

General Partnership

 

If you decide to establish a general (unlimited) partnership, all partners are fully liable and responsible for the company’s operations. You will need at least one partner other than yourself. There is no minimum in terms of the starting capital. To register the company, you will need to pay a registration fee of 50,000 HUF.

All partners can represent the company unless stated otherwise in the articles of association. There are no specific requirements in terms of management. You don’t need a board of directors or supervisory board to establish a general partnership.

In terms of risks, have in mind that you and your partner(s) are completely liable for all the losses and debts incurred by the company.

 

Joint Stock Company

 

If you’re planning to establish a joint-stock company (JSC), you have two options – public (Zrt) and private (Nyrt). The minimum requirement for both types is that the company has at least one shareholder of any nationality. Each Hungarian company set up as a JSC, both private and public, needs to have a board of managing directors.

Where these two types do differ is the required capital at the time the company is registered. For the public option, it is 20,000,000 HUF (Hungarian Forint), while for the private it is 5,000,000 HUF.

If you opt for a JSC, you will need to have your annual financial statements and balance sheet audited by a professional accountant and submit them with your company register annually. When it’s time for company registration, in Hungary you will have to pay 100,000 HUF to register a private JSC and 600,000 to register a public one.

 

Branch Office

 

Every foreign company can open a branch office (Fa) in Hungary. You will have to have a resident legal representative if you opt for a branch office that will submit annual returns. The registration fee is 50,000 HUF. The main risk with establishing a branch office is that the parent company holds the full (unlimited) liability for all its activities

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Company registration in Hungary, though fairly simple, involves a certain amount of paperwork. Here’s what you’ll need:

 

-A valid passport for the owner(s) and general manager(s)

-Founding documents and declarations of the CEO

-Agreements of assignment

-Specimen of signature

 

All of these documents have to be counter-signed before registration and submitted to the authorities by a Hungarian attorney. The submission can only be done electronically. Therefore, you will need to scan all the necessary documents once they’re signed. All documents have to be signed with a qualified electronic signature.

You can opt to go to Hungary and be present during the process or you can allow the attorney to represent you fully and do all the necessary work on your behalf. The latter option is called Power of Attorney.

 

You should have in mind that all the documents that are not in Hungarian will need to be translated to Hungarian. First, you will sign the documents with the attorney and then proceed with the registration process.