Analysis
The war in Ukraine creates uncertainty in the entire region. Scarcity and instability hasten inflation, which at this scale is capable to affect the global economy. These effects are most obvious in the changes to foreign exchange rates. Currency volatility in Europe The fights in Ukraine affects most the countries that are closest, and which …
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If you are coming from Ukraine to Hungary because of the war, you are eligible for temporary protection, whether you are a citizen or a resident of Ukraine. However, if you intend to stay, you might want to consider other residency options in Hungary.
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Vanuatuan passports have granted visa-free access to the EU since 2015. Now the European Council has decided to suspend that starting from May 2022 due to security concerns raised by how Vanuatu manages its citizenship by investment program. The new restriction affects Vanuatuan citizens whose passports were issued since May 2015. Visa-free travel with Vanuatuan […]
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When you have funds in excess, it is usually best not to just let them lie around in your pocket or on a bank account, but to make some kind of investment to ensure that your money retains its value, or even turns a profit. But from which investments can you actually expect that, especially …
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As a fallout of the current war between Ukraine and Russia, the Central Bank of Hungary (Magyar Nemzeti Bank or MNB) has recently announced that Sberbank Hungary will be liquidated. Bank deposits are insured by OBA and will be returned to customers; corporate customers should find a new financial provider as soon as possible. So …
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Despite recent rumors, Revolut is not moving out of Hungary. However, Revolut’s Hungarian HUF bank account is being cancelled as of 1 April 2022, which is most relevant for employers sending salaries to Revolut accounts and people spending HUF in Hungary. Get an overview from us, and see if you are affected. Who is Revolut …
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Currently, tension is growing on the border of Ukraine and Russia. Whether or not it will develop into a military confrontation, the situation is likely to affect economy in Europe and around the world. Even if inflation does not skyrocket, already existing trends might accelerate. Russia is vast, and it is a major provider of …
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Last updated on 28 January 2022. Because of the soaring inflation, Hungary has announced the introduction of a price cap for a handful of basic foods. The price control will be in force starting from 1 February 2022, and will remain in place for 3 months. You can find the official decree here. Price of …
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Getting a new citizenship and an extra passport can grant you additional freedoms and security. While investment is in some countries a straightforward fast-track to citizenship, in many cases you can also apply for citizenship by descent. Citizenship by descent Normally, you become a citizen of a country if you are born there and your […]
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Hungary is the ideal place if you want to set up your business in the EU. Advanced infrastructure, central location, and favorable taxation options make Hungary a friendly business environment, and many foreigners move here with their family so they can build a new life in the EU. Foreigners in Hungary Currently, more than 350,000 …
Foreign business in Hungary in 2021 Read More »
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