Hungary Business Immigration

If you own a company (KFT or RT) in Hungary you can apply for a long term residence permit, not a permanent residence permit.

Current required capitalization of a KFT is 10,000 Euro. I do not know what additional capital requirements Hungary may request for an entrepreneur/business visa. In Italy, that amount can be as little as 5,000 Euro.

Starting a KFT in Hungary will cost about 500 Euro.

In my opinion, anyone charging to start a KFT and get a residence permit for 6,000 Euro is a scam. Any good attorney can do both for you for less.

And sorry, but all the good attorneys, that are not scam artists, that I know only speak Hungarian. Which is something to consider: running a business in Hungary is nearly impossible unless you speak Hungarian or your entire staff speaks Hungarian and you let them run the business (which is risky -- not everyone here is honest in their business treatment of foreigner partners). And Hungary is not really a business friendly country in my opinion in the caliber of Switzerland or the US -- the "only" 10% corporate tax rate often quoted, for some companies only, may seem great, but it is just the tip of the tax and paperwork iceberg especially if you have employees. There are many mind numbing regulations, rems of paperwork, and necessary personal connections that many businesses, especially small businesses, have to consider in Hungary to operate.

Is this true for no EU citizens? i need only a 30000 euros?

aletreby wrote:

Is this true for no EU citizens? i need only a 30000 euros?

I mentioned above I know of no extra fiscal requirement beyond the 10,000 KFT capitalisation requirement. Where did you read this amount of 30,000? But I am not an attorney, and the laws change here often.

There is also an investor visa program where you buy about 200,000 Euro in government bonds, plus pay a filing fee, so when you cash in your bonds years later your net cost might be only about 30,000 but that is a different type of visa than an entrepreneur visa. Just saying, one might confuse theses two visa methods.

Dear klsallee,
                     Thanks for the reply, after reading your reply One thing is for sure that running business is not an easy task in Hungary . Can you please tell me what type of business sectors are good in Hungary and Where can I find good lawyers. Honestly I dont wana waste my Hard earning money on scams.

makoxford wrote:

Dear klsallee,
                     Thanks for the reply, after reading your reply One thing is for sure that running business is not an easy task in Hungary . Can you please tell me what type of business sectors are good in Hungary and Where can I find good lawyers. Honestly I dont wana waste my Hard earning money on scams.

I echo klsallee's view. Personally I would say no business is worth engaging in within Hungary except possibly the IT sector and health tourism (even seems oversupplied).  Realistically you are better off somewhere else. The political climate is poor, the current government is very bureaucratic and against free enterprise (unless it's somehow connected to the political elite). Many policies are ill thought out and come out as extremist or racist - the Serbia anti-immigration fence, the high VAT at 27% is real killer in many sectors of the economy and encourages the black market. The shop closure law (religious reasons, despite dressing it up as "family time") on Sundays are expected to put 30,000 people out of work.  Over 350,000 Hungarians have left to work elsewhere.  You're up against a very poor environment for any kind of business.

Unless you have special reasons - like family - to come here, there are better places to be.

makoxford wrote:

Dear klsallee,
                  Thanks for the reply, after reading your reply One thing is for sure that running business is not an easy task in Hungary . Can you please tell me what type of business sectors are good in Hungary and Where can I find good lawyers. Honestly I dont wana waste my Hard earning money on scams.

Mobile phone business may be great business in hungary

MonicaSMurdock wrote:

Mobile phone business may be great business in hungary

Nah, no way.  Saturated market, over taxed, expensive, poor infrastructure, under investment and weak customer services for international users.

I've had excellent 4G connections with unlimited capacity for a lower fixed price in developing countries Africa and South East Asia.

I have e-mailed to an Attorney in Hungary and got price mentioned below from them.
They have the following service charges :-

1   Establishment of a company  LLC (Kft.):                      900 EUR +VAT,
2   Accountancy costs around                                          1200 EUR/Year.
3   If you set up your company at our Law Firm for           800 EUR + VAT
     the residence  we charge  permit administration
4   Registered office service to our clients, charging        480 EUR Yearly fee

                                     GRAND TOTAL  3400 EURO
That incorporation fee includes all our related charges, as well as law fee (payable to the court), tax number and optional eu tax number registration, and optionally the opening of one account for the company at a Hungarian bank.


Is this price good enough ?
any other reviews

Hi Makoxford,

This is a great thread for me. I'm researching doing the same thing as you.

I would greatly appreciate the contact information from the lawyer if you would please.

A couple things you might know?
1. With this visa it states that I can bring my children, but what about dependent parents? Would you know about that?

2. How many employees must you have in Hungary and must they be Hungarian?

Thank you very much, Patrick

And one more thing.

With starting a business and getting residency that way can I bring my dependant parents or not?

Does anyone know for sure?

Thank you, Patrick

Hi i did the same .but my lawyer ask me a very small amount.

aoa it possablle  amjad moughal spain  immigration consultant thanks
***

Hi Mak .
I can help for this issue  just email me on ***.

For Business setup i can help

Looks like the best business is helping newbies open a business.

hello please email me i can help you .

@garammasala and tanh123

You have posted on an old inactive thread so do not expect a reply.