The Dynamic World of Hungary's Business and Beyond
Hungary, a beautiful country, is situated in Central Europe. It is a relatively small but culturally diverse country. Budapest, its capital, happens to dominate the country by being its most populated city and also the concentration of scientific, artistic, and educational institutions. The country has had 13 Nobel Prize winners since 1905.
The Awestrucking Benefits of Working in Hungary:
Economic Reasons
- The Economic Complexity Index places Hungary above the average in work and life balance. Budapest has a very developed financial sector making it one of the primary regional economies in the European Union.
- It is also on the list of the top 100 cities in the world concerning its GDP.
- The technical sector is also rapidly developing, generating various job opportunities in engineering and other technical jobs.
- The employees here enjoy an elevated status in comparison to other countries, they enjoy various benefits such as paid sick leave, maternity pay, etc.
- The government has decreased the personal income tax from 16% to approximately 15%.
- Hungary also has modern infrastructure and good telecommunications.
- The minimum wage is around 630.5 USD per month. The average wage expectancy for high-skilled workers is about 891.7 USD per month, and for workers with low skills is about 444.6 USD per month on average.
- In Hungary, the employees are expected to work on average about 8 hours a day for five days a week.
- The living expenses of Hungary are comparatively lower than the rest of the European countries, which makes it a cost-efficient place to better your living conditions.
- Many employers provide their employees with supplementary health insurance.
- There is a mandatory yearly medical exam for new recruits whose expenses are covered by employers.
Cultural Reasons:
- Hungary is culturally diverse, like India. The best way to experience the culture is through their art and food. Art institutions like the Hungarian National Gallery, Museum of Fine Arts, etc., are some places where you can explore their culture.
- They are also rich in festivals. One such festival of significance is the Sziget Festival held in Budapest. Sziget is considered to be one of the major music festivals in Europe.
- It is abundantly filled with historical architecture from Renaissance, Gothic, etc. Budapest boasts the highest concentration of thermal springs among all cities.
Exposure to a different culture would be beneficial as it allows you to develop new perspectives and learn about new traditions. It can help you to rise above prejudices and help to perceive a global sense of perspective. It deepens your learning and makes your approach more empathetic. It can also create a space for you to grow as an individual outside your own culture.
Create A Home Away from Home in Hungary
You can apply for a Temporary Resident Permit if your work term is shorter. This permit will legalize your stay in the country for a specified period of time. However, you must meet the standard requirements set by the country.
Flat sharing is advisable as it is cheaper. You can also opt for sub-tenancy and rent a room in another's apartment. Paying two months' rent in advance and submitting it to the land registry is mandatory. In case of looking for a more permanent mode of living, you can contact real estate agents and look for houses for sale.
Who can Opt For Housing Options?
- People with no criminal record. They should not threaten Hungary's national security, public health, etc.
- People who are not in the database of the Schengen Information System under alert categories.
- The cost of the rented apartments varies depending on the city. Budapest being the capital, is the most expensive. However, finding rooms for $90 a month and small apartments for about $200 to $300 is possible.
Different Visas and Work Permits:
Work Permits:
- Individual Work Permit: This work permit is for foreign nationals working in Hungary from 90 days to over 180 days.
- Joint Work Permit: This is intended for foreign nationals seeking employment for a duration exceeding 90 days within a 180-day timeframe.
- Residence Permit: It permits the foreign national to reside in the country for 90 days.
- Single Application Procedure: It is for foreign nationals from non-European Economic areas who wish to stay for more than 90 days within a 180-day period. This can only be applied through an employment relationship with a native Hungarian employer.
Visas:
- Long Stay Visa (D): For those planning to stay in the country for a longer period of time. It also acts as a pre-approved residency permit.
- Working Schengen Visa: For those planning to stay for a short time. It is usually used for short-term employment opportunities.
- Seasonal Employment Visa: This is for foreign workers involved in agriculture, animal husbandry, etc., for up to 180 days.
- EU Blue Card: Only highly skilled workers from EU member countries with a resident permit are eligible. They would also be required to provide proof of their lawful residence in a member country.
- Job Seeker Visa: For third-world nationals, a resident permit for job searching.
Types of Job Requirements:
- Demand and Supply Sector: There is a high demand for workers in manufacturing and other sub-sectors.
- Programmer/ Developer: The rapid development of the IT sector is raising the demand for IT-specific jobs.
- Management: If you are interested in Management, then you are in luck, as there are many opportunities available here for you to grab.
- Sales Department: There is also a high demand in the sales department. The Sales Representative's average salary is approximately around $400,000 per annum.
- Administrative: The average median salary for a Systems Administrator is around 18,000 USD. Around 1000+ job opportunities are available in this sector, especially for English-speaking folks.
- Logistic Specialists: The job market for the logistics department is on the rise for the past few years. There is an expectation of an upcoming 6% growth by 2025.
- Digital Marketing: Take your best marketing strategies to Hungary for your maximum profit, as this sector has a growth expectancy of 6.23 in the years 2023-2027.
- eaching: The teaching of the English language is in high demand in rural as well as urban areas.