Other residence permits in Hungary

Residence permit for the purpose of family reunification Who is eligible to apply for a residence permit for the purpose of family reunification: A third-country national who has a spouse who is a Hungarian citizen or who has a proven cohabiting relationship with a partner of the same sex. Registration of marriage in Hungary: The Hungarian citizen is obliged to initiate this procedure, but the application for registration can be…

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Staying in Hungary – Types of residence permits and legal background

The most typical type of residence permit, of which most are issued in Hungary, is a work and study permit. For residence permits for work purposes, the most basic documents are required: These two documents are the responsibility of the employer. In the event of failure to declare the need for labour, the National Directorate General for Aliens will take a negative decision. The reason for this will of course…

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Greenfield Investments – Why Hungary? – Investment framework

Key sectors in Hungary: automotive, battery, business service centres, electronics, information and communication technologies, food industry, life sciences, logistics, and medical technologies are considered to be industries in which Hungary actively invites investors. More than 170 000 people are employed in the automotive industry. 1. Key information More Hungarian firms are engaged in international trade than is typical across the EU (70% versus 63%). Manufacturers (92%) are far more likely…

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Risks in greenfield investments

In general, greenfield investment is referred to as one of the types of foreign direct investment, which includes the most significant number of risks. This is because the investor needs to create a production chain from the very beginning. While it can offer numerous advantages, such as greater control, the potential for long-term growth, and a large profit percentage, there are several risks associated with greenfield investments. 1. Political and…

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Proof of Concept (POC)

Have you ever been curious whether your idea or solution is valuable and if it would be worth turning into reality? Have you ever wondered if there was a tangible verification which could prove the potential of an idea or solution? To answer these questions, today, a number of businesses and companies choose an exercise called Proof of Concept (POC). In this guide we will explain what POC is and…

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How to establish a foundation in Hungary

Definition of foundations According to Section 3 (378) Act V. of 2013 (hereinafter: Civil Code); “ Foundations are legal persons set up to pursue the long-term objective defined in the charter document. The founder shall define in the charter document the funds made available to the foundation and the organizational structure of the foundation.” The foundation is established by the founder with the declaration contained in the charter document, but…

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Information on the procedure of TSZSZ (Experts’ committee concerning construction work disputes)

A designer, contractor or subcontractor may request the procedure of the TSZSZ (Experts’ committee concerning construction work disputes) if he has carried out the work under the contract but has not received the certificate of completion, or if he has received the certificate of completion but his invoice has not been paid. The client may also request the procedure if he does not consider payment of the fee due under…

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Taxation in Hungary

The problematic of taxes can be crucial in any stage of business. A favourable tax structure can spare a fortune for your business and on the other hand, the mistakes made in tax declarations could lead to serious troubles. Therefore, it is in place to be extremely careful with preparation and choice of your tax consultant. In this article we shall focus on the bedrock of each country tax-system on…

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Accommodation guide for residence permit applicants

Accommodation in Hungary is an essential condition to get residence permit and visa as well. This article provides you information on eligible premises and the documents most commonly accepted as proof of accommodation. I. Why do you need to arrange accommodation? When you apply for a Hungarian visa or residence permit the authorities will ask you to submit proof of accommodation. The reason behind this requirement is that the authorities…

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EC permanent residence permit

After a certain period of staying in Hungary the possibility of permanent residency may arise. One way to achieve this is to apply for an EC permanent residence permit the major features of which we attempt to summarize in this article. 1. Permanent residency in Hungary The relevant legislation defines the scope of third-country nationals who are considered residents in Hungary as the ones in possession of either an interim…

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