The guest self-employment residence permit, which is the official name of the Hungary residence permit by business registration, is available to non-EU and non-EEA citizens. It allows prolonged stays in Hungary and visa-free travel across the Schengen Area.
Requirements for applicants. Investors wishing to obtain the Hungarian guest self-employment residence permit must meet the following criteria:
- be over 18;
- have a clean criminal record;
- have no prior refusals of residence permits, or deportations from Hungary;
- have a legal business income;
- be able to demonstrate savings of at least €10,000;
- have a registered address in Hungary;
- have health insurance.
The rules allow a group of entrepreneurs to establish a business together and obtain Hungarian residency. In the case of group investment, the number of owners must correspond to the size of the company. To increase chances of approval, all investors are recommended to be assigned directors of the business.
Initially, the investor’s spouse and children are not eligible for residency or family reunification. The investor can include them in the permit extension application after one year.
Obtaining residency. The process of acquiring a guest self-employed residence permit includes stages as follows:
- creating a business plan;
- visiting Hungary to open a corporate bank account;
- registering the company and signing agreements with partners and contractors;
- obtaining a type D visa to enter Hungary after company registration;
- travelling to Hungary and applying for a residence permit.
Business registration can be conducted remotely, with the help of the Hungarian lawyer. Personal presence in Hungary is only required for opening a bank account and applying for residency.
To qualify, the applicant’s income from the business as per the business plan should be at least €1,500 per month. Employing three Hungarian or EU citizens exempts the investor from the requirement to create a business plan.
Maintaining and extending the residence permit. Residence permit is valid for one year. To maintain it, the investor must stay in Hungary for at least 90 days every six months.
Upon expiration, the permit can be renewed for an additional two years. After a total of three years of residing in Hungary, the investor must leave the country and apply for a new permit.
Holders of guest self-employment residence permits are not eligible for Hungarian permanent residency or citizenship. Investors planning to acquire these statuses in future, can obtain a Hungary Golden Visa which also allows doing business in the country.
