Company incorporation in Hungary

Acquiring an existing company in Hungary can offer many strategic advantages for investors and entrepreneurs wishing to expand their operations or enter the Hungarian market. This approach avoids many of the initial hurdles associated with establishing a new company.

Advantages of acquiring a ready-made company

1. Quick access to the market
   • By acquiring an existing company, investors can start operations immediately, bypassing the bureaucratic procedures and delays associated with new company registration. This ensures a quick entry into the market and the ability to start doing business quickly.
2. Established business relationships and customer base
   • Existing companies already have a developed customer base and established business relationships. This gives new owners a significant advantage, as there is no need to start from scratch in building relationships with customers and partners.
3. Experienced staff
   • The staff already includes experienced employees familiar with current operations and business processes. This avoids problems with hiring and training new employees and contributes to business continuity.
4. Financial history
   • An established company has a financial history that can be analysed to assess its past performance and potential profitability. This provides valuable data for making informed investment decisions.
5. Regulatory and licence benefits
   • If the business already has all the necessary licences and permits to operate, new owners will not have to go through the lengthy process of obtaining them, which is especially important in regulated industries.

Risks and considerations

Acquiring an existing company also involves certain risks. It is important to scrutinise the company's legal cleanliness, debts and liabilities. A comprehensive due diligence should be conducted, including a financial, legal and tax audit of the company.

Conclusion

Acquiring an established company in Hungary can be a favourable solution for many businessmen and investors. This approach allows for a quick start-up, avoiding many of the initial difficulties and costs associated with starting a new business. However, in order to minimise the risks, it is necessary to conduct thorough preliminary research and possibly engage professional advisors specialising in corporate acquisitions and mergers.

Hungary attracts many foreign investors due to its strategic location in the centre of Europe, stable economy and attractive tax policy. However, before deciding to register a company in Hungary, it is important to thoroughly research all aspects of doing business in this country.

Advantages of registering a company in Hungary

1. Low corporate tax rate
   • With a corporate tax rate of 9%, Hungary offers one of the lowest rates in Europe, making it attractive to international businesses.
2. Strategic geographical location
   • Located in the centre of Europe, Hungary provides easy access to European Union markets as well as to Eastern European countries.
3. Business flexibility
   • Hungary offers a flexible corporate structure and minimal barriers to doing business, making it easy to set up and run a company.
4. Developed economic infrastructure
   • The country has a well-developed infrastructure, including modern transport networks, telecommunications and technological innovation.
5. Programmes to support foreign investors
   • The Hungarian government offers various incentives and support programmes for foreign investors, including grants and incentives for job creation and investment in certain sectors.

Potential difficulties

1. Bureaucracy and administrative procedures
   • Despite government efforts to simplify the company registration process, bureaucracy can still be an obstacle, especially for those unfamiliar with local legislative and administrative procedures.
2. Language barrier
   • Hungarian is considered one of the most complex European languages, which can make it difficult for foreigners who do not speak the language well enough to do business.
3. Economic fluctuations
   • Like any other country, Hungary is subject to economic fluctuations that can affect the stability and profitability of a business.

Conclusion

Hungary offers a number of significant advantages to foreign investors, including low taxes, strategic location and government support. However, as with any international business venture, it is important to carefully assess all potential risks and benefits. Understanding local legislative and cultural sensitivities can play a key role in the success of your business in Hungary. Consultation with local specialists and lawyers is recommended to ensure a smooth and successful start to your operations in this country.

The choice between buying an existing company or starting a new one from scratch is an important decision for many foreign investors planning to do business in Hungary. Each of these approaches has its advantages and disadvantages, but the acquisition of an existing company can offer a number of significant benefits, especially in the context of Hungary's economic environment.

Advantages of acquiring an operating company

1. Fast market entry
   • One of the most significant advantages of buying an existing company is the ability to start operations immediately. Unlike a new company, which takes time to incorporate and set up operations, buying an existing company avoids many of the initial administrative and organisational delays.
2. Availability of licences and permits
   • Many businesses in Hungary require special licences or permits, which can be time-consuming to obtain. Acquiring a company that already has the necessary licences greatly simplifies the process and eliminates the need to go through complicated bureaucratic procedures.
3. Established business relationships and reputation
   • An existing company already has its business connections, customer base and possibly a good reputation. This creates favourable conditions for the continuation of business activities and simplifies the process of attracting new customers.
4. Experienced staff
   • Company personnel who are already familiar with the details of the business and its current market position can be a significant asset. New owners will not have to spend time and resources on recruiting and training new employees.
5. Financial predictability
   • Acquiring an existing company allows the new owner to assess the financial health of the business based on previous financial statements. This provides greater predictability and reduces financial risk.

Key considerations

Acquiring a going concern also requires a thorough due diligence process, including analysing the legal cleanliness, financial condition and market position of the company. It is important to ensure that the company has no hidden debts or legal problems that could affect the business in the future.

Hungary attracts foreign investors with its favourable investment climate, favourable tax regime and strategic location in the heart of Europe. One of the key features of Hungarian legislation is the possibility for non-residents to register a company in the country.

Legal aspects

Hungarian law allows foreign nationals and companies to register and own a business in Hungary without having to reside in the country. However, although there are no residency requirements for founders, the company must have a legal address in Hungary. This can be a company office or a legal address provided through a virtual office service.

Company registration process

1. Choice of company type: The most popular forms of legal entities for foreign investors in Hungary are limited liability company (Kft.) and joint stock company (Zrt.).
2. Preparation of documents: For registration, it is necessary to prepare the company's articles of association and memorandum of association, which must be prepared in Hungarian and notarised.
3. Registration fee and capital: A registration fee and authorised capital, the amount of which depends on the type of company, must be paid.
4. Obtaining a registered office: The company must have a registered office in Hungary, which will be used for official correspondence.
5. Registration in the commercial register: Once all documents have been prepared, it is necessary to submit them to the Hungarian Trade Register for registration.
6. Opening a bank account: After incorporation of the company, you need to open a corporate bank account in one of the Hungarian banks.

Tax and legal obligations

Once a company is incorporated, it must comply with Hungarian law, including paying taxes and filing financial statements. The corporate tax rate in Hungary is 9%, making it one of the most attractive countries in Europe in terms of taxation.

Conclusion

Registering a company in Hungary by non-residents is a relatively simple and affordable process that opens up a wide range of business opportunities in Europe. With the right approach and compliance with all legal requirements, foreign investors can successfully develop their activities in the Hungarian market, taking advantage of its economic and strategic advantages.

Choosing a name for a company is an important step in the process of its creation and further identification on the market. The Hungarian legislation provides companies with the possibility to change their name both at the registration stage and afterwards.

Legal aspects of changing the name of a company

In Hungary, the process of changing a company name is regulated by the Commercial Code and other regulations. Changing the name requires compliance with certain procedures that guarantee legal transparency and prevent abuse.

1. Prior to incorporation of the company:
   • Changing the name of a company during the registration process is relatively simple. The entrepreneur can change the name before the documents are finally filed with the registration authority. This can be done in response to a refusal by the registration authority if the proposed name is already occupied or does not meet the legal requirements.
2. After company incorporation:
   • Once the company is incorporated, any change of name requires a formal procedure, including approval of the change at a shareholders' or founders' meeting. The resolution must be registered in the commercial register and the relevant documents must be filed with the registration authority.
   • The company should notify all stakeholders, including counterparties, banks and tax authorities, of the name change.

Name change procedure

1. Calling a meeting of the founders or shareholders:
   • A formal meeting must be held at which a majority vote is taken to change the name.
2. Submission of documents to the registration authority:
   • Once the decision has been made, the company must file the amended articles of incorporation with the Commercial Register. This includes the new name and confirmation of the legality of the changes.
3. Stakeholder Notification:
   • The company should notify all of its partners and customers of the name change to ensure that commercial and legal relationships are uninterrupted.

Conclusion

Changing the name of a company in Hungary is a permissible and regulated process both during and after the incorporation stage. Although it may take time and effort to complete all formalities, the flexibility to change the name allows the company to adapt to new market conditions, strategic changes or corporate restructurings. Properly following the procedures provides legal clarity and maintains trust and stability with business partners and authorities.

The purchase of a shelf company in Hungary can be an effective solution for foreign investors looking to quickly start a business in Hungary. One of the most important aspects to consider when buying a shelf company is to have an active bank account.

Ready-made companies: what are they?

Ready-made companies are pre-registered legal entities that have not conducted commercial activities and are intended for subsequent sale to investors. These companies have all the necessary documents, memorandum of association and are registered in the Hungarian Commercial Register. The main advantage of ready-made companies is the possibility to start operations quickly without having to go through a lengthy registration process.

Availability of a bank account

One of the key issues when buying a ready-made company is the availability of an active bank account. In most cases, ready-made companies in Hungary do not have an active bank account for the following reasons:

1. Banking procedures and security:
   • Opening a bank account requires following strict procedures and verifying the identity of the ultimate beneficiary (KYC - Know Your Customer). Banks want to be assured of the legitimacy and transparency of their customers and therefore favour the opening of an account by a new owner after the acquisition of a company.
2. Avoiding potential risks:
   • Active bank accounts may be associated with potential financial and legal risks associated with possible undeclared liabilities or transactions committed by previous owners.

The process of opening a bank account after the purchase

After acquiring a ready-made company in Hungary, the new owner must open a bank account. This process involves several steps:

1. Document preparation:
   • Submission of all necessary documents such as the company's articles of association, incorporation documents, passport details of the new owner and proof of address.
2. Submitting an application to the bank:
   • Personal presence of the owner or his official representative at the bank to sign the documents and undergo KYC procedure.
3. Passing the bank's inspection:
   • The bank will verify all the information and documents provided. This process may take from a few days to a few weeks depending on the policy of the particular bank.

Conclusion

Purchasing a ready-made company in Hungary offers a number of advantages, including a quick business start-up and the ability to avoid lengthy incorporation procedures. However, such companies are not usually accompanied by active bank accounts due to strict bank control procedures and potential risks. Opening a bank account after the purchase of a company is standard practice, requiring compliance with all banking procedures and checks. This ensures the security and transparency of the financial transactions of the new owner of the company.

In today's environment of globalisation and digitalisation, opening a bank account remotely is becoming increasingly important for international companies. Hungary, as part of the European Union, attracts many foreign investors due to its favourable business environment.

Legal and regulatory requirements

Hungarian banks, like banks in most EU countries, are required to follow strict procedures to verify their customers under the Know Your Customer (KYC) and anti-money laundering (AML) policies. These procedures include confirming the identity of the ultimate beneficiary and verifying sources of income.

Procedure for opening a bank account

1. Choice of bank:
   • Different banks may offer different terms and procedures for opening accounts. It is important to choose a bank that offers remote account opening services and meets your company's needs.
2. Document preparation:
   • The standard set of documents for opening a corporate account includes:
     • Constituent documents of the company.
     • Resolution appointing a director and powers of attorney.
     • Passport details and proof of residence address of all final beneficiaries.
     • A business plan or description of the company's operations.
     • Confirmation of the company's registered office in Hungary.
3. Submission:
   • The application to open an account can be made through the bank's electronic systems or with the help of specialised intermediaries and consulting firms that can assist in the preparation and submission of documents.
4. Undergoing KYC procedure:
   • Banks may require video conferencing or other means of remote identification to confirm the identity of the ultimate beneficiary. Some banks may also require notarised copies of documents.
5. Verification and Approval:
   • Once all the required documents have been submitted and the KYC procedure has been completed, the bank will conduct a verification process. This process can take from a few days to a few weeks depending on the bank's internal policies and the completeness of the information provided.

Advantages of opening a bank account remotely

1. Saving time and resources:
   • Opening an account remotely avoids the need to travel to Hungary, which saves time and money, especially with the current restrictions on international travel.
2. Convenience and responsiveness:
   • The ability to file and negotiate online makes the process more convenient and faster.

Limitations and potential difficulties

1. Strict requirements of the banks:
   • Due to high security and regulatory compliance requirements, banks may refuse remote account opening if there is insufficient information or suspicion of business transparency.
2. The need to involve intermediaries:
   • In some cases, the company may require the services of local legal or consulting firms to successfully complete all procedures, which may increase the cost of the process.

Conclusion

Opening a bank account in Hungary remotely for a company is possible, but requires careful preparation and compliance with all regulatory requirements. It is a convenient and efficient way to start a business in Hungary, minimising the need for physical presence and associated costs. It is recommended to utilise the services of Regulated United Europe to ensure compliance and successful account opening.

The purchase of a shelf company in Hungary can be an attractive opportunity to start a business quickly. However, one of the important aspects to consider when buying a shelf company is the existence of possible liabilities or debts.

What is a ready-made company?

A ready-made company is a legal entity that has been registered and has been in existence for some time, but is not actively engaged in commercial activities. Such companies are created for subsequent sale to investors who wish to avoid the lengthy registration process and start a business immediately.

Possible risks of acquiring a ready-made company

1. Existing liabilities and debts:
   • One of the main risks in buying a ready-made company is the possibility that it may have existing liabilities or debts. These liabilities may include unpaid loans, tax arrears, fines or obligations to suppliers.
2. Legal disputes:
   • The Company may be involved in current or potential legal proceedings, which may affect its financial and legal position.
3. Legislative violations:
   • Previous owners of the company may have violated legal or regulatory rules, which could result in fines or other penalties.

Precautions when buying a ready-made company

1. Due Diligence:
   • Before purchasing a ready-made company, it is necessary to conduct a comprehensive financial and legal due diligence. This includes analysing accounting records, tax returns, credit history and checking for litigation.
2. Professional help:
   • It is advisable to engage professionals such as lawyers and auditors who can conduct a detailed audit of the company and identify possible risks. Their expert knowledge will help minimise risks and guarantee the cleanliness of the transaction.
3. Contract Warranties:
   • Include in the sales contract warranties from the seller that the company has no hidden liabilities or debts. If such liabilities are discovered after the purchase, the seller should be held liable.

Advantages of buying a ready-made company

1. Quick Start Business:
   • Buying a ready-made company allows you to avoid the lengthy registration process and start commercial activities immediately.
2. Established Reputation:
   • A ready-made company may have an established reputation and credit history, which can make it easier to obtain loans and establish business relationships.
3. Availability of licences and permits:
   • If the company already has the necessary licences and permits, it avoids additional costs and time to obtain them.

Conclusion

Buying a ready-made company in Hungary can offer significant advantages, including a quick start and the ability to avoid administrative delays.

Corporate taxation plays a key role in choosing a jurisdiction for doing business. Hungary, as a member of the European Union, offers attractive conditions for foreign investors, including one of the lowest corporate tax rates in Europe.

The main corporate tax rate is as follows

Hungary is known for its favourable tax policy. The main corporate tax rate is only 9%. This is one of the lowest rates in the European Union, which makes Hungary attractive for international business and investment. The low tax rate favours companies' profits and stimulates the development of economic activity.

Other tax liabilities

In addition to the basic corporate tax rate, companies in Hungary may face other tax liabilities:

1. Value Added Tax (VAT):
   • The standard VAT rate in Hungary is 27%, which is one of the highest rates in Europe. However, reduced rates of 5% and 18% may apply for certain goods and services.
2. Local Taxes:
   • Companies are also liable to pay local taxes such as business activity tax, which can be up to 2% of gross income. This tax varies depending on the location of the company and local tax policy.
3. Social contributions and insurance:
   • Employers are obliged to pay social security contributions on behalf of their employees. These contributions include contributions for pension insurance, health insurance and industrial accident insurance. The total amount of contributions can reach 22% of the payroll.

Benefits and incentives

The Hungarian government provides various tax exemptions and incentives to support certain industries and activities. These include:

1. Investment incentives:
   • Tax incentives and grants may be available for large investments, especially in technology and research.
2. Incentives for small and medium-sized enterprises (SMEs):
   • SMEs can receive incentives to support their growth and development, including simplified tax regimes and subsidies.
3. Regional Benefits:
   • In some regions of Hungary, additional tax incentives and subsidies may be granted in order to stimulate economic development.

Conclusion

Hungary offers one of the lowest corporate tax rates in Europe, making it an attractive jurisdiction for registering and doing business. The basic rate of 9% creates favourable conditions for companies to increase their profits. At the same time, companies must consider additional tax liabilities such as VAT, local taxes and social contributions. A proper understanding of Hungary's tax system and utilisation of available benefits and incentives can significantly improve financial results and contribute to long-term business success.

Bookkeeping is an integral part of the management of any company, regardless of its size and field of activity. In Hungary, as in most countries of the world, legislation requires companies to comply with strict accounting and reporting rules.

Legal requirements

1. Statutory accounting:
   • Under Hungarian law, all companies incorporated in Hungary are required to maintain accounting records in accordance with national accounting standards. This includes recording all financial transactions, preparing financial statements and submitting them to the tax authorities.
2. International Financial Reporting Standards (IFRS):
   • Large companies and companies listed on a stock exchange may also be required to maintain accounting under International Financial Reporting Standards (IFRS), which ensures transparency and comparability of financial data internationally.

Basic elements of accounting

1. Financial Reporting:
   • Companies are required to prepare and present annual financial statements that include a balance sheet, an income statement, a statement of cash flows and notes to the financial statements. These documents should reflect the exact financial position of the company and the results of its operations.
2. Tax reporting:
   • Companies are required to file tax returns and pay taxes such as corporate tax, VAT, local taxes and social contributions in a timely manner. Tax reporting must be accurate and comply with the requirements of tax legislation.
3. Maintaining the books of account:
   • All financial transactions of a company must be documented and recorded in the books of account. This includes recording income and expenses, recording fixed assets and depreciation, and recording liabilities and receivables.

Responsibility for record-keeping

1. Appointment of Chief Accountant:
   • Companies may appoint a chief accountant or contract with an accounting firm to ensure that all accounting requirements are met. The chief accountant is responsible for the accuracy and completeness of the accounting records.
2. Audit:
   • Large companies and companies in certain categories are required to have their financial statements audited annually. The audit is conducted by an independent auditor and is aimed at confirming the reliability of the financial statements.

Consequences of non-compliance

Non-compliance with accounting requirements can lead to serious consequences, including fines, legal sanctions and loss of reputation. Companies that fail to submit timely and accurate reports may face tax audits and administrative actions by government authorities.

Conclusion

Maintaining accounting records is a mandatory requirement for all companies registered in Hungary. This ensures transparency of financial activities, compliance with tax obligations and increases the confidence of partners and investors. Companies must carefully comply with all accounting rules and standards to avoid legal and financial risks associated with non-compliance with legal requirements.

Hungary, due to its strategic location in the centre of Europe, attractive tax rates and supportive business environment, has become a popular destination for foreign investment. Chinese citizens, as well as citizens of other countries, can take advantage of these advantages and register a company in Hungary.

Legal aspects and basic requirements

1. The right to incorporate a company:
   • Hungarian law does not impose restrictions on foreign nationals, including Chinese nationals, to register and own a company in Hungary. Chinese citizens can register a company under the same conditions as Hungarian citizens.
2. Forms of Legal Entities:
   • Chinese citizens can choose among various forms of legal entities, the most popular of which are the limited liability company (Kft.) and joint stock company (Zrt.). These forms provide flexibility in management and limited liability for the founders.
3. Legal address:
   • Every company registered in Hungary must have a registered office in Hungary. This can be a company office or a virtual office provided by specialised providers.

Company registration process

1. Document preparation:
   • The following documents are required: memorandum of association, articles of association, personal details of the founders and directors, and proof of the company's registered office. All documents must be translated into Hungarian and notarised.
2. Registration in the commercial register:
   • Documents are filed with the commercial registry through a local solicitor or registration agent. The registration process usually takes one to two weeks.
3. Opening a bank account:
   • Once the company has been incorporated, a corporate bank account must be opened with a Hungarian bank. This requires the personal presence of the owner or his official representative and the submission of all necessary documents.

Tax and legal obligations

1. Corporation tax:
   • Hungary offers one of the lowest corporate tax rates in Europe at 9%. This makes the country particularly attractive for international business.
2. Value Added Tax (VAT):
   • The standard VAT rate in Hungary is 27%, but reduced rates may apply for certain categories of goods and services.
3. Financial statements:
   • All companies are required to keep accounting records in accordance with Hungarian standards and file annual financial statements.

Advantages of opening a company in Hungary

1. Strategic Location:
   • Hungary is located in the centre of Europe, which provides convenient access to the markets of the European Union.
2. Economic stability and support:
   • The Hungarian government actively supports foreign investment and offers various incentives and grants for businesses.
3. Skilled labour force:
   • Hungary has a highly skilled labour force, especially in technology and engineering.

Conclusion

Chinese citizens can easily open and register a company in Hungary, taking advantage of all the advantages that the country offers for doing business. The company registration process is relatively simple and straightforward, but requires compliance with all legal and tax regulations. Consultation with local lawyers and business advisors can make the process much easier and ensure a successful business start-up in Hungary.

Hungary, located in the centre of Europe, is an attractive location for business expansion due to its favourable tax conditions and access to European Union markets. Opening a branch office of a Chinese company in Hungary allows you to utilise these advantages to strengthen your international presence and increase your profits. This article discusses the basic steps and requirements for opening a branch office of a Chinese company in Hungary.

Legal aspects of opening a branch

1. Legal status of the branch:
   • A branch of a foreign company in Hungary is not an independent legal entity, but acts on behalf and in the interests of the parent company. All obligations and responsibility for the activities of the branch lie with the parent company.
2. Registration in the commercial register:
   • In order to open a branch office, it is necessary to register it with the Hungarian commercial register. The registration process includes the preparation and submission of the necessary documents.

Procedure for registration of a branch

1. Document preparation:
   • The following documents are required to register a branch office:
     • The decision of the parent company to establish a branch.
     • Founding documents of the parent company, certified and translated into Hungarian.
     • Certificate of incorporation of the parent company.
     • Articles of Association of the parent company.
     • Power of attorney for the person who will represent the interests of the branch in Hungary.
     • Confirmation of the legal address of the branch in Hungary.
2. Filing of documents with the commercial register:
   • Documents are submitted to the Hungarian Trade Register through a local lawyer or registration agent. The review and registration process usually takes one to two weeks.
3. Opening a bank account:
   • After the branch is registered, it is necessary to open a corporate bank account in one of the Hungarian banks. This will require the personal presence of a representative of the branch and the submission of all necessary documents.

Tax and legal obligations

1. Corporation tax:
   • Branches of foreign companies are taxed on profits earned in Hungary at the rate of 9%.
2. Value Added Tax (VAT):
   • Branches are obliged to register as VAT payers and pay VAT on a general basis.
3. Financial statements:
   • Branches are obliged to keep accounting records and submit financial statements in accordance with Hungarian accounting standards.

Advantages of opening a branch in Hungary

1. Access to EU markets:
   • Opening a branch in Hungary provides access to European Union markets and the possibility of free movement of goods and services.
2. Low tax rates:
   • Hungary offers one of the lowest corporate tax rates in Europe, which favours profits.
3. Stable economic environment:
   • Hungary provides a stable economic and political environment, which makes it attractive to foreign investors.

Conclusion

Opening a branch office of a Chinese company in Hungary is a strategically advantageous solution to take full advantage of the European market and favourable tax conditions. The process of registering a branch office is relatively simple, but requires compliance with all legal and tax regulations. Consultation with local legal and business advisors will help to successfully complete all stages of registration and start efficient business operations in Hungary.

Hungary offers a wide range of opportunities for foreign investors and entrepreneurs seeking residence permits. Chinese nationals can take advantage of these opportunities to not only do business but also to reside in the country. This article discusses the main ways for Chinese nationals to obtain a residence permit in Hungary, as well as the requirements and procedures involved in the process.

Main ways of obtaining a residence permit

1. Investing in the Hungarian economy:
   • One of the most popular ways to obtain a residence permit is to invest in the country's economy. Hungary offers programmes such as the Golden Visa, which allows you to obtain a residence permit if certain investment conditions are met.
2. Company Establishment:
   • Chinese citizens can obtain a residence permit by opening a company in Hungary. This process involves registering a company, contributing registered capital and proving a business plan that demonstrates a contribution to the country's economy and job creation.
3. Working Visa:
   • Chinese citizens can obtain a residence permit if they have a job offer from a Hungarian employer. The work visa allows legal residence and work in Hungary for the duration of the contract.
4. Training:
   • Students from China enrolled in Hungarian educational institutions can obtain a student visa, which entitles them to temporary residence in the country for the duration of their studies.

The process of obtaining a residence permit

1. Submission of Application:
   • The application for a residence permit is submitted to the Hungarian Consulate in China or to the Hungarian Immigration Service. The application must be supported by the necessary documents, including passport, photographs, documents confirming the purpose of stay (work contract, company documents, proof of enrolment in an educational institution, etc.).
2. Document preparation:
   • The standard set of documents includes: passport, photographs, proof of financial solvency, health insurance, proof of housing in Hungary and other documents depending on the basis of the residence permit.
3. Getting an interview:
   • In some cases, it may be necessary to be interviewed by consular or immigration officials to confirm the applicant's intentions.
4. Consideration of the application:
   • The application process can take anywhere from a few weeks to a few months depending on the individual case and the workload of the immigration authorities.

Advantages of a residence permit in Hungary

1. Free movement within the Schengen area:
   • A residence permit in Hungary grants the right to travel freely within the Schengen area without the need to obtain additional visas.
2. High quality of life:
   • Hungary offers a high standard of living, developed infrastructure, quality education and medical care.
3. Business and investment opportunities:
   • Obtaining a residence permit opens up additional opportunities for doing business and investing in Hungary and other European Union countries.

Conclusion

Chinese citizens have several options for obtaining a residence permit in Hungary, including investing, starting a business, working and studying. Each of these paths requires fulfilment of certain conditions and submission of relevant documents. Consultation with legal and immigration specialists can greatly simplify the process of obtaining a residence permit and increase the chances of a successful application. Hungary offers favourable conditions for foreign nationals, making it an attractive destination for residence and business.