As per the new legislation, all third-country nationals seeking residency in Hungary can no longer opt for residency for other purposes. Instead, they must have a specific reason for obtaining the status. Requirements and rights granted by the permit will depend on its type.
The new law details 24 residence permit types, with eight of them being for the purpose of work. Work residence permits are divided into two groups depending on the qualification of the employee, the length of employment, and the structure of the company.
Employment in unskilled jobs. This category includes the following types of residence permits:
- for seasonal work — valid for up to 6 months and cannot be extended;
- for guest workers — issued to foreigners employed by preferential companies or qualified temporary work agencies;
- for employment purposes issued for the implementation of an investment — granted only for working in government approved projects;
- for employment purposes — issued for job types other than listed above and not requiring special skills or qualifications.
Holders of residence permits for unskilled jobs are not eligible for permanent residency. Such permits do not allow family members to join the resident under family reunification.
Employment in high-skilled jobs. Highly qualified foreigners seeking employment in Hungary can now choose one of the following residence permits:
- the Hungarian Card — issued to third-country nationals employed in jobs that require high qualifications; when changing employers, one needs to apply for a new permit;
- the EU Blue Card — granted to high-skilled employees whose monthly salary is 1.5 times higher than the average salary of the year before the previous; after holding the permit for more than one year, one does not need to obtain a new card when changing an employer;
- intra-corporate transfer — issued to employees of foreign companies who are transferred to a Hungarian branch or affiliate of the same company;
- corporate card — granted only to executive officers of specific companies that have made an agreement with the Hungarian government.
Residence permits for high-skilled workers allow their holders to bring their families to Hungary by family reunification. After three years of residing in the country, such residents can apply for permanent residency.
Conducting a business. As per the new immigration law, the residence permit for gainful activity, known as the business immigration permit, has been abolished. Instead, foreigners wishing to do business in Hungary can obtain residency as self-employed guests.
To qualify, a candidate needs to create a business plan, open a bank account in a Hungarian bank, register a company in Hungary, and demonstrate savings of at least €10,000. The law allows for group investments in business, with all the participants being eligible for residency.
A guest self-employment residency card is initially valid for one year. After this period, the business investor can extend the permit for an additional two years and is allowed to add their family to the application.
The Guest Investor Residence Permit known as the Golden Visa is another option that allows doing business in Hungary. Applicants are granted residency in return for investments of at least €250,000 in the Hungarian economy. Investment options include purchasing real estate investment fund units, acquiring residential property, or making a charitable donation.
The guest investor residency is granted for up to 10 years with an opportunity to extend it once for the same period. Unlike other residence permits, the Hungarian residence permit by investment does not require one to move to the country. The investor’s spouse, underage children, and parents are also eligible for residency.