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Hungary business residency for US citizen starting his own company after 10 years in a family business

I worked in a family business for nearly 10 years. This experience taught me a lot about managing and growing companies. However, I wanted to move on and build something of my own.

That’s when I decided to open a company in Europe—specifically, Hungary.

Thanks to Immigrant Invest, setting up a company and obtaining a Hungarian business visa was quick and straightforward.

Jordan

Jordan, 32

Entrepreneur from the US

Clients’ names and photos have been changed

Hungary business residency

This case was provided by our expert

Zlata Erlach
Zlata Erlach

Head of the Austrian office

Hungary business residency for US citizen starting his own company after 10 years in a family business

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Individual cost calculation for business residency in Hungary

Individual cost calculation for business residency in Hungary

How Jordan obtained his Hungary business residence permit

The process of obtaining the Hungarian business residence for Jordan took 6.5 months. Immigrant Invest accompanied him during the entire process.

Jordan spent €8,110 on his residence permit.

1

May 7th, 2024

Conclusion of a contract with Immigrant Invest

Immigrant Invest conducted preliminary Due Diligence and checked Jordan against international databases. The results confirmed that the applicant had no issues and was eligible to apply for a business residence in Hungary.

Following the successful Due Diligence, Immigrant Invest signed a contract with Jordan and began processing his application.

2

+ 3 weeks

Drawing up of the company’s charter

To prepare the company charter, Jordan provided Immigrant Invest with the following details:

  •     the name and type of business activity;

  •     passport details;

  •     registered address;

  •     size and types of the company’s authorised capital;

  •     the legal address of the future company.

Immigrant Invest assisted Jordan in renting a legal address for his business.

3

+ 2 weeks, €8,000

Registration of a company

Immigrant Invest’s lawyers prepared the necessary documents and submitted them to the Hungarian Chamber of Commerce. The package included:

  • an application to the Chamber of Commerce;

  • the company’s charter;

  • Jordan’s sample signature;

  • a power of attorney;

  • Jordan’s application for the gratuitous contribution of the authorised capital;

  • a receipt for the payment of the state duty to the Chamber of Commerce.

4

+ 1.5 months

Opening a bank account

Jordan travelled to Hungary and opened a corporate bank account with a Hungarian bank.

5

+ 1 day, €110

Application for a residence permit

Jordan booked an appointment at the Hungarian consulate in the US. On the scheduled date, he visited the consulate to apply for his residence permit. At this stage, he paid an application processing fee of €110.

6

+ 3 months

Government Due Diligence

Hungarian authorities conducted a Due Diligence check on Jordan, verifying his background against international databases and online sources. After successfully passing the check, Jordan was issued a National D visa, allowing him to proceed with obtaining his residence permit card.

7

November 30th, 2024

Submission of biometrics and acquisition of the residence permit card

Jordan had 3 months to enter Hungary after receiving his National D visa. He travelled the country a month after obtaining his National D visa and submitted his fingerprints.

The residence permit card was sent to Jordan’s address in Hungary.

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