Several factors make Hungary a top immigration destination. There has been a growing interest in the nation lately even as many people, from across the globe, wish to immigrate to Hungary.
Hungary is a land-locked state in central Europe and a vital member of the European Union (EU). It has accepted the Schengen area agreement which facilitate the free movement among member countries. For the people, who are planning to migrate to Europe, this country could be the best choice because of liberal immigration policy.
The nation has faced very difficult time in history due to dwindling world order of that time. Starting from the World War I, it saw tough time. Even after the world wars, similar condition was persisted for a long period. Hungary falls under the communist due to expansionist policy of the erstwhile Soviet Union. Around this time Hungary saw a long period of depression on both economic and political front.
But the situation reversed after the fall of USSR, and subsequently joining of the EU has given the country that extra impetus which eventually proved catalyst to the rise of Hungary`s economy.
In recent time, the country has shown her economic might to the world over. As Britain has opted to leave the EU, migrants who were planning to migrate to UK should choose Hungary instead. This is because when UK will no longer be a member of EU, all the free movement agreements will come to halt, and this might create uncertainty in the mind of investor and could eventually led to low employment opportunity in UK.
On the other hand, Hungary follows a very liberal immigration policy because of two main reasons. The first one is, the country is going through a transformation period that requires more human power, and the second is that the country is in dire need of investment, which can be achieved if more number of people comes and invest under various social security scheme of the country.
Let us look into the economic condition of Hungary that can be helpful for the immigrants!
Hungary is an OECD high-income mixed economy with very high Human Development Index (HDI). With low income inequality, the citizens of the country enjoys high living standard. Economy is bit complex and known to be one of the most complex economies of the world. Country is an export-oriented market economy with more emphasis on foreign trade.
Skilled labor workforce is the USP of the country and due to globalization and high demand all around the world; the country requires more workforce to cop up with development. Hungary is one of the leading nations under the EU which attracts Foreign Direct Investment (FDI) in country because of its liberal policy. Less red-tapism has resulted in millions of investment in the country and continuance of the policy is seen likely in recent times.
The overseas hotspot has maintained high per capita income for decades and will surely going to maintain for decades to come. For High skilled job seekers, the country is the right choice because in the field of computer and mobile technology, country is doing well.
With the rise of cheap product from China, Hungary felt a bit headwind. So the country has started to invest more in R&D sector that could create a level playing field for the country which implies that there will be growing demand of human power. For the semi-skilled worker, this nation could be the choice because it provides high living standard to all the working class, and with many social security scheme, the worker class feels satisfied compare to other nation.
Lastly, the nation is a paradise for the investors and businessmen as it is showing high GDP growth rate even after the economic crisis in the other European nations.
Immigration to Hungary
Compared to other EU countries, the country has relatively liberal immigration policy. The easiest way to immigrate to Hungary is to invest EUR 300,000 in government bond and get 5-year Hungarian Permanent Residency (PR), which includes your family (spouse and children). The bond programme also includes visa free movement to all Schengen area of Europe.
The other way to immigrate to Hungary is to form a company in the nation with just EUR 10,000 as capital and you will be allowed to move in with your family. Be careful while reading the immigration agreement for a hassle-free stay in the country.