Migrating in Hungary...any thought?

HoNeYBiRD said:
Google is either stupid or lying about taxes. lol

Probably we have the highest VAT inside the EU, 27.5% on most things.
Literally anyone, who owns a small business needs to trick with the taxes and salaries; otherwise it wouldn't be profitable to have employees. That's how low the taxes are here.

Low crime rate is actually true.

When are you planning to move here? Now because of the virus situation there's a curfew from 8 pm to 5 am. Restaurants, clubs, gyms are closed. Hotels ditto. There are strict mask rules even on the street in cities with more than 10k population. So probably it would be a good idea to wait until summer, when the restrictions will get lifted hopefully, if you really want to move here.

It's not the worst place to live, but even in the close neighborhood there are better destinations in my opinion. With all honesty i'd rather choose Croatia or Slovenia. Just the other day i read about the 1 year digital nomad VISA in Croatia:
https://www.euronews.com/travel/amp...-as-country-opens-its-doors-with-special-visahttps://www.expatincroatia.com/digital-nomad-visa-croatia/https://www.expatincroatia.com/financial-means/
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Thanks for your insight. I got an appointment on 30th March to submit my application. Then all depends on the authority that I will get the approval or not. I am hoping for the best now.

If you check what eNzim said above, you can pay $167 flat tax if you earn below $3.3k per month. I am still confused about this taxing part. It's not like I got the visa, but then I will move if I get it. So that's why I want to know more about it.
 
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nichexposure said:
Thanks for your insight. I got an appointment on 30th March to submit my application. Then all depends on the authority that I will get the approval or not. I am hoping for the best now.

If you check what eNzim said above, you can pay $167 flat tax if you earn below $3.3k per month. I am still confused about this taxing part. It's not like I got the visa, but then I will move if I get it. So that's why I want to know more about it.
Click to expand...
Yea, that tax type is called "KATA", i'm not sure, if you can find proper info about it in English.

It was recently modified and starting from this year, although the yearly $40k (12M HUF) income limit stayed, but not more than $10k (3M HUF) can come from one place, otherwise 40% tax will apply on the amount, which is above the $10k limit. It also complicates things, if you get paid by a foreign company, in that case the limit is $10k/year, any more above that and you need to pay 40% tax on the amount, which is above the $10k.
You'll need a valid tax identification number and social security number too.

It's a bit complicated, i'm not sure, if i understand it fully either. You should talk to an accountant, who knows the ins and outs of this and can provide up to date info.
 
"self-employed visa" can you give more info please
are you from a tier 1 countries?
 
I don't have any experience for self-employment things in Hungary yet, but I can talk about general Hungary. I have lived there more than a year and have family ties. (Planning to move back in 3 years)
  • Firstly, Hungary is very safe compared to most of the other European countries.
  • I don't know where are you from but if you are coming from a tier 3 country and if you do not look like European (please don't get me wrong but I mean lighter skin etc.) you can get a bit racism according to where you live. That's why, I advice you to move Budapest as that's the most international city in Hungary. If you live in a small city with locals, I am really not sure how your life would it be. You might be lucky or not as there are good and bad people everywhere.
  • Also language is harder and weirder. I am currently trying to learn slowly, but hell of a job. Again, in Budapest you could easily live your life with English; but in other cities, it's going to be really hard to communicate. Also for basic life things, market to opening a bank account, ordering something online etc.
Long story short: If you are European or looking like European and if you are willing to learn Hungarian as soon as possible, you can have a happy life. Otherwise, it's a bit of luck!
 
Budapest is such an amazing place to be. I lived there for almost a year and what I can say that beside the fact that city is amazing, there are a lot of opportunities for smart people.
 
My thoughts.. EVERY country in this world has poor people and super rich people.. I will suggest just stay in your own country and try your best to be rich there, just like the rich people in your own country did to be rich..
 
Frogman08 said:
My thoughts.. EVERY country in this world has poor people and super rich people.. I will suggest just stay in your own country and try your best to be rich there, just like the rich people in your own country did to be rich..
Click to expand...

Whats the point of someone staying in their home country if they can improve their life by moving?

Many areas of the world are just don't have the infrastructure, laws and other things that will allow for comfortable wealth generation.


HoNeYBiRD said:
Yea, that tax type is called "KATA", i'm not sure, if you can find proper info about it in English.

It was recently modified and starting from this year, although the yearly $40k (12M HUF) income limit stayed, but not more than $10k (3M HUF) can come from one place, otherwise 40% tax will apply on the amount, which is above the $10k limit. It also complicates things, if you get paid by a foreign company, in that case the limit is $10k/year, any more above that and you need to pay 40% tax on the amount, which is above the $10k.
You'll need a valid tax identification number and social security number too.

It's a bit complicated, i'm not sure, if i understand it fully either. You should talk to an accountant, who knows the ins and outs of this and can provide up to date info.
Click to expand...

Do you know the social tax rate for self employed persons doing the regular tax system and not KATA?
 
catwithhat said:
Is it a good or a bad thing?
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Depends on your sexual orientation.

images
 
ExperimentalSEO said:
Whats the point of someone staying in their home country if they can improve their life by moving?

Many areas of the world are just don't have the infrastructure, laws and other things that will allow for comfortable wealth generation.
Click to expand...

Ok if you think moving to a Tier1 country from a Tier3 country is that easy?!! Financially wise and VISA wise? People move to richer countries for job opportunities. Do you really think those "Rich" countries will just welcome immigrants with open arms and give jobs to them, when their own citizens are now unemployed especially now with this Covid19 going on? Think again my friend. That is all I am saying.
 
Frogman08 said:
Ok if you think moving to a Tier1 country from a Tier3 country is that easy?!! Financially wise and VISA wise? People move to richer countries for job opportunities. Do you really think those "Rich" countries will just welcome immigrants with open arms and give jobs to them, when their own citizens are now unemployed especially now with this Covid19 going on? Think again my friend. That is all I am saying.
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If OP or anyone is given the chance to, they should take it.
 
Frogman08 said:
Ok if you think moving to a Tier1 country from a Tier3 country is that easy?!! Financially wise and VISA wise? People move to richer countries for job opportunities. Do you really think those "Rich" countries will just welcome immigrants with open arms and give jobs to them, when their own citizens are now unemployed especially now with this Covid19 going on? Think again my friend. That is all I am saying.
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Only the strong survives ,people from 3 Rd world moves to 1st world for a better life ,they don't want to live a horrible life
 
ExperimentalSEO said:
Do you know the social tax rate for self employed persons doing the regular tax system and not KATA?
Click to expand...
These are all the taxes payable by self-employed persons not doing KATA:
Personal income tax: 15%
Social security tax: 18.5%
Social contribution: 15.5%

There's a minimum amount of tax they need to pay each month. It's not a fixed amount, it grows whenever the minimum wage increases. In any case, it's more than 50k HUF what you pay for KATA. There are two versions of minimum wages (depending on the level of qualification), according to that for February the minimum tax is either 60k HUF or 79K HUF. 1 USD ~300 HUF.
 
HoNeYBiRD said:
Yea, that tax type is called "KATA", i'm not sure, if you can find proper info about it in English.

It was recently modified and starting from this year, although the yearly $40k (12M HUF) income limit stayed, but not more than $10k (3M HUF) can come from one place, otherwise 40% tax will apply on the amount, which is above the $10k limit. It also complicates things, if you get paid by a foreign company, in that case the limit is $10k/year, any more above that and you need to pay 40% tax on the amount, which is above the $10k.
You'll need a valid tax identification number and social security number too.

It's a bit complicated, i'm not sure, if i understand it fully either. You should talk to an accountant, who knows the ins and outs of this and can provide up to date info.
Click to expand...

I heard about the Kata and you almost got everything. But I am not sure I am eligible for it or not. Thanks for your time and help.


mnrfas said:
"self-employed visa" can you give more info please
are you from a tier 1 countries?
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Tier 3 country. Self-employed means for the freelancer who can prove that they can earn by themselves without looking for a local job. I am earning online so it's accountable for the self-employed category.


provocative said:
I don't have any experience for self-employment things in Hungary yet, but I can talk about general Hungary. I have lived there more than a year and have family ties. (Planning to move back in 3 years)
  • Firstly, Hungary is very safe compared to most of the other European countries.
  • I don't know where are you from but if you are coming from a tier 3 country and if you do not look like European (please don't get me wrong but I mean lighter skin etc.) you can get a bit racism according to where you live. That's why, I advice you to move Budapest as that's the most international city in Hungary. If you live in a small city with locals, I am really not sure how your life would it be. You might be lucky or not as there are good and bad people everywhere.
  • Also language is harder and weirder. I am currently trying to learn slowly, but hell of a job. Again, in Budapest you could easily live your life with English; but in other cities, it's going to be really hard to communicate. Also for basic life things, market to opening a bank account, ordering something online etc.
Long story short: If you are European or looking like European and if you are willing to learn Hungarian as soon as possible, you can have a happy life. Otherwise, it's a bit of luck!
Click to expand...

That's great info for me. I do not look European. But my height is 6ft 3 inch and I am not skinny either. I am planning to live in Budapest and obviously, I will learn the language though it seems quite hard. Now only thing I need to get the approval.


Frogman08 said:
My thoughts.. EVERY country in this world has poor people and super rich people.. I will suggest just stay in your own country and try your best to be rich there, just like the rich people in your own country did to be rich..
Click to expand...

It's not about being rich for me. I am living a higher standard of life here but the circumstances, environment all looks like hell for me. All I care a decent system and a better lifestyle. So I decided to move if possible. Still, a long way to go.



ExperimentalSEO said:
Whats the point of someone staying in their home country if they can improve their life by moving?

Many areas of the world are just don't have the infrastructure, laws and other things that will allow for comfortable wealth generation.




Do you know the social tax rate for self employed persons doing the regular tax system and not KATA?
Click to expand...

Thanks for your understanding. I am not aware of the tax system properly.
 
nichexposure said:
Tier 3 country. Self-employed means for the freelancer who can prove that they can earn by themselves without looking for a local job. I am earning online so it's accountable for the self-employed category.
Click to expand...
Yo, can you point me to some websites where I can read about this visa type?
 
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