The United Arab Emirates have traditionally been attractive for investors, especially from the Middle-Eastern region. However, the business environment for foreign investors is becoming less and less stable. As such, moving from UAE to Europe might be beneficial.
The country does not permit permanent residency or citizenship to foreigners as a rule, and the temporary residence permit can be revoked or fail to be renewed at any time. The unstable immigration policy of the UAE has affected businessmen from Syria and Iran especially hard: the authorities may deny opening a bank account for citizens of these countries, or even freeze existing assets. Since business licenses are also temporary, you can never know in advance if these will be renewed or rejected.
When you invest or start your own business in Hungary, you can get a fixed-term residence permit, which can be converted to a permanent one if your business continues to run smoothly. Hungary is one of the few European countries where Iranian citizens can open a bank account, which makes it possible for you to easily transfer money to all European countries. Hungary is located in the geographical centre of Europe, with outstanding traffic and freight connections by air, road, rail and water. Since the country is part of the Schengen zone, a Hungarian residence permit allows you to travel freely within most of the continent. Hungary is also part of the single European market, meaning you can trade within the EU without having to worry about customs, and, in many cases, without having to charge VAT.
If you want to learn more about movinf from UAE to Europe, call your immigration specialist Mo Shaban on +36-1-317-8570, or contact us on info@helpers.hu today.
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