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Being a member of both the EU and the Schengen Area, Hungary is the ideal country to act as a gateway for doing business in Europe. Its location is conductive for business men wanting to conduct import and export activities. Hungary is one of the leading destinations for foreign direct investment in Europe, and many leading multinational corporations have a presence in the country. It also boasts of highly developed transport, logistical and communications infrastructure, as well as a business-friendly environment.
The leading industries in Hungary include the automotive, services and electronics sectors. Its corporate income tax rate ranges from 10% to 19%,making it among the lowest in Europe, while the personal income tax rate is a flat sixteen percent. Investors are also provided with tax incentives.
The Hungarian Residency Bond program was established in 2011 and offers permanent residency for investors willing to buy residency bonds. You can enjoy lifetime residency for a five-year financial commitment.
After receiving their temporary residency cards, applicants can apply for permanent residency after just six months.Obtaining Hungarian Permanent Residency (PR) is a straight forward and fast process. Applicants and their family members can apply for permanent residency just six months after receiving their temporary residence cards.
- Applicants have no residency obligation to complete the permanent residency process
- Applicants who are approved for permanent residency become residents for life
- Permanent residents have access to all public services, including education and health care
- Dependents below eighteen are included in the application
- Permanent residents can travel visa-free to the Schengen Area countries
- Only healthy individuals with no criminal record are allowed to apply
- There are no net worth or management experience requirements for applicants
- In rare cases, however, the Hungarian administration office may request applicants appear for an interview
Investment Process:Applicants are required to buy investment bonds worth at least 300,000, which have a five-year maturity period, as well as paying a one-time 60,000 processing fee.Once the bonds mature, the original capital is returned but without any accrued interest.
Once the investment is received, an application for permanent residency is filed. Upon approval, the applicant is given a temporary residency card valid for six months. Once temporary residency is granted, an application for permanent residency is filed. Successful applicants are given permanent resident status for life