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Canadian planning to retire in Hungary

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CANGenavo
4/5/2015 10:34 EST

I am a Canadian and planning to retire with my husband in Hungary in few years. We have been in Hungary and we love it, therefore we see ourselves living there.
We are quite flexible and not difficult to adjust but have some questions and hope to get some advice to our short term and long term plans to move there temporary.

We are planning to live half a year in Hungary every year after retirement so we will be traveling to Canada often in order to be entitled for all benefits and spend time with family.
Budapest is our preferred location, but we are also considering close to Balaton or near border with Austria, I would love to get some advice about top locations for expacts.

I would like to know approximately the cost of living and if significant difference within these three areas.
What would be best advice to carry on with investments and pensions considering that we will get Hungarian citizenship eventually.

Thank you for your time

peddington
4/5/2015 15:02 EST

Greetings,
Here is my 2 cents. If you apply and receive "residency permit" for Hungary you must reside here the majority of the year. (for example 6 months plus 1 day) otherwise you are in violation of the permit. As you already figured it out about $2,000 (USD) gives you good basic subsistence. If you purchase a home then the $2000 goes even further. Have specific questions please ask! Good luck!

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CANGenavo
4/5/2015 15:25 EST

Hi there, thank you for prompt response, well noted your comments. So for living in Hungary less than 6 months and 1 day we don't need permanent residency? what status we could have for such temporary living style ? thanks in advance!

peddington
4/5/2015 15:53 EST

You have misunderstood! If you come here you allowed to stay 3 months without a visa/permit. Then you must leave and you can come back in 3 months and again can stay for 6 months. So yes in a year you can be here 6 months but only in two stages! If you want to stay here more than 3 months you must seek a "residency permit". Usually issued for 1 year but it can be for 5 years too in case you have Hungarian citizen relatives or a life partner, husband/wife etc. Some other permit issued through a local employer is a whole other matter. Once you here on a permit you must be her 6 months plus 1 day in a given calendar year. Incidentally this permit is good for the entire EU since Hungary is a EU country. The application is relatively simple. Short application, passport photo, 18,000 forint stamp (fee) roughly $60. Proof of some sort of health insurance and funds to live on during your stay. Roughly that is it. You get a response in 28 day (super fast for Hungary) so you can apply during your 3 month stay here and no need to go to the embassy in Toronto or whether it is! Hope this clarify s things!

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