Hungary

QUICK FACTS

Location : Central Europe, northwest of Romania

Capital : Budapest

Total Area : 93,028 sq km

Population : 9,874,784 (July 2016 est.)

Population distribution: a fairly even distribution throughout most of the country, with urban areas attracting larger and denser populations

Languages : Hungarian (official) 99.6%, English 16%, German 11.2%, Russian 1.6%, Romanian 1.3%, French 1.2%, other 4.2%

note: shares sum to more than 100% because some respondents gave more than one answer on the census; Hungarian is the mother tongue of 98.9% of Hungarian speakers (2011 est.)

Religion : Roman Catholic 37.2%, Calvinist 11.6%, Lutheran 2.2%, Greek Catholic 1.8%, other 1.9%, none 18.2%, unspecified 27.2% (2011 est.)

Ethnic groups : Hungarian 85.6%, Roma 3.2%, German 1.9%, other 2.6%, unspecified 14.1%

note: percentages add up to more than 100% because respondents were able to identify more than one ethnic group (2011 est.)

Government type : parliamentary republic

GDP – per capita : $27,200 (2016 est.)

Climate : temperate; cold, cloudy, humid winters; warm summers

Legal system : civil legal system influenced by the German model

Unemployment rate : 6.6% (2016 est.)

Visa free countries : 167 (2016)

Overview of the country – geographical Situation, accessibility

Flag of Hungary

Located in the center of Europe, Hungary is a country without access to the sea, but crossed right through the Danube, and by one of its main tributaries, the Tisza, famous for the abundance of its freshwater fish. Budapest is the capital. There are no fewer than 5 international airports throughout the country. 90% of passengers pass through the Franz Liszt airport in Budapest.

Rate of tax system on the physical persons living in the country

In addition to EU funding programs, Hungary offers various national tax incentive schemes for eligible investors and spending.

All foreign companies engaged in commercial activities in Hungary are subject to VAT. However, EU non-resident companies can recover Hungarian VAT if they are registered to declare VAT in their country of origin, which varies according to the specific bilateral agreement between the countries.

Capital gains are included in the corporate tax base at 19%. Capital gains from the sale of Hungarian shares of non-resident companies are exempt from tax.

If Hungary is a stepping-stone for European affairs, each case requires a specific and in-depth study, depending on the type of investment.

Physical and legal Security of the country

Located in the heart of Europe, a member state of the European Union and NATO, this country has a long-term political stability. Investment incentives are in line with European standards.

Hungary is a safe country where you can live in perfect safety.

Twelve years after its accession to the European Union, Hungary is fully integrated into the European and world economy. The country’s strong growth since 2005 is the best example of this, due in part to the strength of the macroeconomic policy framework, the low level of private sector indebtedness and the general government, the resilience of the labor market and the stability of the banking sector.

Programs of economic investments set up by the government of the country host, with new residents

With a total cost of 360 000 Euros, the invested capital (300 000 Euros) is returned to investors, after 5 years of residence, the 60 000 Euros answering the expenses of management of the file (administration, government and treatment fees).

Adults, children, dependent relatives may be included free of charge in the program.

It is possible to obtain citizenship after 8 years, but a national language test is required.

Quality of Life

Hungary is a welcoming country with rich natural beauty and cultural traditions. Budapest is one of the most beautiful capital of Europe.

Hungary is located on the border of three climatic zones, a continental climate, influenced by the oceanic climate in the west, the subarctic climate in the north and the Mediterranean climate in the south.

This country has a long tradition of classical music, often mixed with folk music. His most famous composer is undoubtedly Franz Liszt.

The official language is Hungarian, but the English language is widely used in the business community.

Countries for which visas are not necessary any more

With a Hungarian residence visa you can travel to any country in the Schengen area.