Hungary is situated in the heart of Europe and is a very colorful and dynamic country with favorable climate conditions. It possesses unique history, national traditions and rich cultural experience. Thus, Magyar culture and gastronomy with a distinct European and Turkish influence can be named among the peculiarities of Hungary.
Furthermore, the Schengen zone, which opens its borders to a wide range of European countries, adds more charm to this place. This will definitely help you to enlarge and widen the geography of areas for your business, study, and residence.
Hungary has a strong economy and stable political system, so it attracts investors from all over the world. It is also a member of the European Union and part of the Schengen zone, which helped to guarantee and foster stability, prosperity.
Hungary has a transitional economy, with a well-developed service sector, export-oriented industry and highly developed agriculture. In 2023, the Hungarian economy continued to stagnate, supporting the general trend of the EU countries. Despite this, the Hungarian forint strengthened in 2023 against the dollar and the euro. The real estate market is developing dynamically, the government is taking measures to develop an affordable housing program for Hungarians, reducing mortgage rates and developing targeted programs, hoping thereby to stimulate new construction. Long-term and short-term rentals are in high demand due to the tourist influx, as well as the problem of buying the finished housing for Hungarians. Real estate in Hungary is rather affordable. Businessmen make investments confidently with the expectation of a reasonable return on it.
Hungary has a personal income tax rate of 15%.
Corporate tax amounts to 9%.
Real estate purchase tax is from 2% to 4%.
VAT in Hungary amounts to 27%. Reduced rates of 18% and 5% apply to certain categories of goods and services including real estate VAT.
There is no separate capital gains, wealth tax in Hungary. Income from capital gains is included in the total tax base. An exemption applies to certain types of income.
Tax on dividends constitutes to 15%.
Inheritance and gift tax rate is 18%, and a preferential 9% tax rate applies to residential property. No inheritance tax for direct heirs and spouses.
Property tax depends on the area, on an annual basis this tax is insignificant and varies from HUF 20 thousand to HUF 200 thousand.
The peculiarity is that the registration of the company must be done through a Hungarian lawyer authorized by the state. There are many possible options for business entities in Hungary:
Exclusive real estate services
ID renewal (through the consulate or through the country)
Banking assistance (local and offshore accounts)
Tax Identification Number
Getting a driver's license
Police reports for approved clients
Local SIM card
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I thank One World Migration for the opportunity to move to Turkey with their help. I looked to relocate my company to be closer to my European partners and suppliers from the Middle East.
I first came to Portugal as a tourist 3 years ago. Having assessed the situation and got acquainted with this country, I decided that I wanted to stay here to live. Thanks to the efforts of One World Migration, this became possible.
The decisive factor for me in my decision to obtain Grenadian citizenship was the possibility of a visa-free visit to Europe, where my husband and I love to come both on business trips and on vacation. Thank you One World Migration!
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We provide the full service concerning the purchase and management of the real estate.
The European Court of Justice has handed down a historic ruling ordering Malta to completely end its citizenship-for-investment program. The judges ruled that the sale of EU passports was contrary to the principles of European law and undermined trust between member states.
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Russia and Oman have abolished visas for short-term travel! It is now possible to stay in the country for up to 30 days without a visa, but not more than 90 days per year. The agreement will enter into force 30 days after formal procedures.
