Case Studies

Residence in Hungary: In Some Cases, It’s a Perfect Solution for All of Your Problems

During one of his business trips to the Czech Republic, Sergey had been told by one of the border guards that he had exceeded the period allowing him to stay on the territory of the Schengen area. Indeed, it is difficult to keep track of these things when the working schedule is so hectic.

Our protagonists

Sergey, his wife and their two children aged 7 and 14. The couple is expecting their third child.

Sergey is a small business owner.

Prior to contacting Immigrant Invest

All family members held Italian visas valid for two years which allowed Sergey and his family to go on frequent trips to Europe.

Business trips, much sought-after due to the ever evolving company needs, occurred quite frequently too.

But then something happened.

As a result, Sergey got fined and banned from entering the Schengen arearnfor six months.

The family was forced to cancel their vacation by the sea, even though they have booked their reservations in advance. All plans collapsed at a moment’s notice!

A number of problems popped up:

  • visa must be regularly extended;
  • the period allowing Sergey to stay in the Schengen countries was to be diligently monitored on his own;
  • entry into the Schengen arearnwas closed for six months;
  • a fine was imposed.

That was most inconvenient, to say the least. Besides, important meetings with foreign partners have been canceled which led to business losses.

Searching for a solution

In order to avoid visa issues in the future and not be restricted in his freedom of movement, Sergey began to search for possible solutions to his problems.

It seemed that obtaining a residence permit of one of the European countries might just be the case.

Attempt #1. Failed

Sergey scanned the Internet and found some information on how to obtain a residence permit by purchasing real estate in the Czech Republic. He contacted the company in the Czech Republic which took over the registration formalities.

In order to apply, Sergey had to:

  • buy an apartment in Prague;
  • open his own company in the Czech Republic.

However, his application has been denied in three months upon filing the request with no reason ever explained to him.

The company that was working on Sergey’s case said it couldn’t reverse the situation.

This led to the following consequences:

  • the apartment was sold underpriced;
  • Sergey’s company had to be closed;
  • a whole year of precious time was wasted;
  • total losses amounted to EUR 50,000.

Contacting Immigrant Invest

In 2014, Sergey was meeting his business partners in Vienna. They told him about the government investor program of Hungary. The program enabled applicants to get permanent residence in Hungary for their whole families by making a small investment. Most importantly, it was not necessarily to relocate to Hungary and learn Hungarian!

Back in Russia, Sergey began to study the matter immediately. He realized that the program was a solution to all of his problems!
He felt even more confident after finding out there were no cases where the registrants have been denied their application. The information was also confirmed by the Hungarian consulate in the Russian Federation.

Attempt #2. Successful

Sergey contacted our company for help. Having consulted with us, he decided to apply for the residence permit, followed by permanent residence in Hungary by investment.

Here is the process he went through:

Stage 1: registering as an investor, signing of contracts, making payments

Timeframe: 1 week

In order to be registered as an investor, the following documents were required:

  • copies of passports of all family members;
  • copies of their residential addresses specified in their internal passports;
  • contact details: email and phone;
  • mother's maiden surname and name.

After registering, preparing and approving of documents, two contracts were signed in our office:

  • a contract between Sergey and the Hungarian government-licensed company;
  • a tripartite contract between our client, licensed company and independent escrow agent responsible for ensuring execution of the transaction.

In this case, we involved an international law firm CMS McKenna. However, Sergey was free to offer any of the agents of his choice: a notary, a bank, a lawyer or a law firm.

Next, the funds necessary to buy government bonds and pay administrative fees have been transferred to the deposit accounts of the agent and the licensed company.

Stage 2: preparing and filing the documents for the residence permit

Timeframe: 1-2 days for filing the documents + visiting the Embassy

We prepared the following documents to be filed to the Office of Immigration and Nationality:

  • notarized copy of Sergey’s passport as the main applicant;
  • apostilled copies of birth certificates of minor children (i.e., certified in a special way so as to be legally recognized abroad);
  • apostilled copy of the marriage certificate.

While visiting the embassy, the following documents were required:

  • application and letter of trust which we have prepared for Sergey;
  • foreign and internal passports (originals);
  • copies of the foreign and internal passport pages with photos;
  • copies of the passport pages with residential addresses;
  • 2 photos (4 × 3 format, in color) for each applicant over 4 years of age;
  • cash in the amount of:
  1. EUR 60 per applicant (visa processing charge);
  2. EUR 2 × 30 for certifying the authenticity of signatures.

We had coordinated the date of Sergey’s visit to the Embassy in advance and booked his appointment to the Consul. The entire family signed the application and a letter of trust in the presence of the Consul, presented a required set of documents and submitted their biometric data. The whole procedure took about 20 minutes.

Stage 3: Obtaining a residence permit

Timeframe: 3 weeks

After our meeting, the Consul sent the electronic versions of the documents to the Office of Immigration and Nationality of Hungary. A week later a positive response came. It took another 10 days for the residence permits to be printed. After that, we handed them over to the client.

As the main applicant, Sergey has been granted his residence permit issued for five years. Other family members got their permits issued for three years.

Together with his residence permit in Hungary, Sergey now can:

  1. conduct business on the territory of the Republic, buy real estate and register it in his name;
  2. apply for a mortgage;
  3. relocate his family and invite his friends;
  4. apply for social security benefits;
  5. travel other EU countries visa-free.

Stage 4: Obtaining permanent residence permits

Timeframe: 6 months upon receiving the residence permits

Within 45 days upon obtaining residence permits for Sergey and his family, our company has bought him Hungarian government bonds worth EUR 300,000. Next, the client has been granted a promissory note guaranteeing repayment of funds to the investor upon the expiration of the investment period of 5 years.

Similar to applying for residence permits, the documents were filed for permanent residence in Hungary. The papers were submitted at the Consulate of Hungary in Moscow.

The list of required documents for the permanent residence was slightly longer:

  • apostilled certificates confirming all applicants over 14 years of age held no criminal record. Certificates should not have been older than six months at the time of filing the applications;
  • apostilled copy of the certificates of birth of the main applicant and the spouse;
  • a short summary for all the candidates above 14 years of age following the European format in English (we have provided a sample).

Naturally, our company prepared all the documents and statements. All Sergey had to do was to sign them in the presence of the Consul.

We prepared the following documents to be ready for the meeting with the Consul:

  • profiles and letter of trust;
  • original passports and residence permits;
  • 2 photos (4.5 × 3.5 format, in color) of each applicant above 4 years of age;

cash in the amount of::

  1. EUR 60 per applicant (visa processing charge);
  2. EUR 2 × 30 for certifying the authenticity of signatures.

At the end of this stage, Sergey and his family received:

  • permanent residence permits for all applicants;
  • Hungarian identity cards (ID);
  • address cards.

The process of reviewing the documents and the subsequent issuance of permanent residence permits took about three months.

Upon obtaining permanent residence in Hungary, Sergey and his family got additional benefits of:

  • going on business trips or holidays in any of the countries of the Schengen area visa-free;
  • living in any European country with virtually no time restrictions;
  • enjoying social benefits and guarantees provided by the state, for example receive child benefits or pensions;
  • obtaining loans in European banks at a reduced rate;
  • applying for Hungarian citizenship.

The ultimate result of our cooperation

The family received their residence permits in Hungary within three weeks upon filing the documents, and permanent residence permits within six months. All family members are enjoying the freedom of movement as well as the ability to enter and leave the country when it suits them. In addition, all family members got visa-free access to other European countries.

Today, Sergey owns a house in Spain which is home to his pregnant wife. Their newborn son will also become the holder of a permanent residence permit in Hungary.

The eldest daughter Arina plans to continue her education in Germany where she will face no problem getting a student visa.

All in all, correctly selected program coupled with competent actions of our professionals have saved this family a lot of time, effort and money.

Immigrant Invest is a licensed agent for government programs in the European Union and the Caribbean.

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Let’s discuss the details

Schedule a meeting at one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.

Svetlana Gorchakova
Head of the Sales Department
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