How do I keep my European residence after Brexit?

Currently, thousands of British citizens live, work, or do business in the European Union. What will happen to them if (or when) the UK leaves the EU? Will they be able to retain the privileges of European residence?

Hard Brexit seems likely

After the referendum for the United Kingdom to leave the European Union has been decided in favor of Brexit, very little is know about what the exact timeline and conditions for this change will be. What is starting to look more and more certain, however, is that the UK is to reject the free movement of people and that the EU will deny access to the single European market in return.

UK citizens to lose EU privileges

For UK citizens living or doing business abroad, Brexit is likely to have a host of negative consequences. Losing your EU citizen status and having to go through visa and travel procedures for non-EU countries will almost certainly mean longer, more complicated and more costly bureaucratic procedures. It will also make it harder to get permanent residence or extend your temporary residence permit in EU countries.

Hungary: your anchor to Europe

Hungary, boasting the lowest corporate tax in Europe, has long been attractive for UK investors, even without taking residency concerns into account. However, since the country is a permanent member of EU and the Schengen area, with no intention to leave, you can combine both of these advantages if you apply for Investment Immigration or Business immigration through company formation as a UK investor. The requirements for the initial application and the renewal are quite straightforward, and Helpers has had over 10 years of experience in successfully assisting non-EU citizens in obtaining a Hungarian residence permit. Let us help you retain your European residence – give us a call on +36-1-317-8570 and ask for a free consultation.

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