Business Permit

Obtain your business permit for Hungary easily with hngary.com.

Business Permit

Permit type:
Business Permit

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

• Establish a Hungarian company.
• Prepare an appropriate business plan.
• Insure 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. One director per company can get residency without a work permit if he/she has an active role in the running of the company and has the required qualifications/experience. The other directors will need a work permit to become employed with the company. Alternatively you can have three Hungarian employees for every one director.

How do you start?

To start this procedure you will have to travel to Hungary (Even if only once), to open a bank account for your new Hungarian company. If you already hold a Schengen visa for Europe, you can use that to enter Hungary – alternatively you can look to the Hungarian Residency Bond Program (discontinued) or the EU Blue Card option.

Company formation in Hungary is considered a quite quick and efficient process, ranking the country well in the list of highly desirable EU business immigration destinations, accompanied by rather low and flexible capital requirements, affordable living costs and business-friendly corporate tax rates. This is provided of course that the right set of corporate documentation is carefully prepared.

Hungary offers its residents favourable business environments, an easy and central European location for your offices and low living costs for your you and your family. You and your family will be able to move freely within the Schengen zone.

How can we help you do business in Hungary?

Hungary offers a very advantageous business environment, with a low corporate tax (9%), cheap and convenient company formation, a central location in Europe and within the Schengen zone, and relatively low living and operating costs. We would assist in legal regard and facilitate admin activities required. Opening a bank account in Hungary is also a process with only a few hurdles.

Please contact us for a detailed explanation on how we can assist. We look forward to helping you and your business grow in Hungary.

What is the general process and how much does it cost?

Our firm is more than happy to prepare documents and set up a meeting for a personal discussion at our offices with lawyer, as soon as an applicant arrives in Hungary. We also offer consultations on phone, Skype or in person (please enquire what the fee is) in which we can answer all your questions.

The preparation work is even more crucial when it comes to the (personal) immigration process and application, in which we also provide full service.

We can put together the corporate documents and arrange for business registration when you’re here, within a few days.

The corporate phases are:
(1) Corporate documents are finalised with the client and drafted, possibly even before entering the country to have the necessary papers ready,
(2) a meeting is set up with a lawyer in order to duly sign the Articles of Association and other necessary documents (shareholders’ register, etc), and
(3) a corporate bank account is opened – this must be done in person in Hungary.

Thereafter, some additional documents need to be prepared (i.e. business plan) in order to be submitted to the Immigration Office. Please also note, however that you will need to operate your company before we advise submitting application for residency, as you need to show that the company is prosperous and that your presence is necessary in Hungary to run it, as well as that the company will be able to sustain you financially.

Our full service one year company set-up and business visa package includes
– Set-up and registration of the company, opening bank account, acquiring a Tax ID number for the company;
– providing registered office service (virtual office) and corporate mail forwarding/handling for a full year;
– business plan assistance, if necessary (in order to be submitted to the Immigration Office)
– assistance with health insurance (needed for residency), and you will also need a residential address, we can assist with the contract if you find a place
– legal assistance and representation of the director in the immigration process.

The fee of the above package is EUR4,990 (plus VAT where applicable).

There will be additional costs through the process which need to be taken into consideration (translation fees, immigration process fee, company registration official charge) to some degree, but these are not significant though – about a few hundred Euros, at most.

The minimum registered capital for a limited liability company is HUF3,000,000 (roughly EUR 10,000), but it only needs to be shown on formation. Afterwards, the company can start legally using it in the frames of its regular activities – including payouts to the director as remuneration.

All in all, in case you wish to reside in Hungary on your business permit, we recommend our clients to be prepared with disposable funds of about EUR20,000 to EUR25,000 to cover all costs, set up the company, as well as run it for the first year.

We can also assist in including additional directors with the immigration process (with the services listed above in the personal part) as well as family members’ (spouses, etc.) visa processing afterwards in the form of a family reunification visa.