Recently Abdel Fattah el-Sisi, President of Egypt visited Budapest to participate at the meeting of the V4, and he also met Hungarian President János Áder and Hungarian PM Viktor Orbán. Why is it important? Find out.
Not too much before the visit of the President of Egypt, the Egyptian Minister of Foreign Affairs also visited Budapest to meet his Hungarian colleague, Péter Szijjártó. Currently, various Hungarian businesses provide services to Egypt. For example, a Hungarian-Russian consortium is delivering 1,300 railway carriages, more than half of which are being built in Dunakeszi, Hungary. At the same time, Hungarian companies participate in the renovation of cranes in the ports of Alexandria and Suez, and in the development of water supply systems on the Sinai Peninsula. Moreover, just this year about 7,000 head of cattle has been exported from Hungary to Egypt.
Common economic interests provide a stable basis for a friendly diplomatic relationship between countries. Hungarian PM Viktor Orbán is pushing for Egypt’s acceptance as a strategic partner within the EU. He said that instead of denouncing Egypt, Europe should help them improve the political, economic, and cultural situation of Egypt, especially now that Egypt has just announced its human rights strategy. The Egyptian President added that the more European industrial investment arrives to Egypt, the more Egypt can improve living standard of the local population, which would necessarily include an improved focus on human rights.
Hungary can act as a gate to Europe for Egypt not only in the political or economic sense. Hungary has the most liberal requirements for obtaining residency in Europe. Applying for a resident permit or a work permit is straightforward, and even family members (spouse and underage children) can join the applicant once they have received their permit. Setting up a company in Hungary takes only a few business days, which makes immigration based on company operation a popular option for businessmen who intend to move to Europe. The low corporate tax and the immediate EU VAT number are all considered added benefits. Moreover, Hungary has the same advanced infrastructure as all other Western European countries, so it offers the same high living standards, for the fraction of the price.
Whether you are planning to set up a business of your own or enter employment at a local company, we would be happy to help you with the relevant paperwork. Helpers Hungary offers business and relocation services to foreigners in Hungary for more than 15 years, and we are confident we can assist you with the administrative side of setting your foot in Europe. Contact us today!
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