Budapest, Hungary

Visa Requirements

• Tourist Visa
  Hungary is part of the Schengen Area, so nationals of the EU/EEA and many other countries (e.g., the United States, Canada, Australia) can visit for up to 90 days within a 180-day period without a visa.
• Visa on Arrival (VOA)
  Hungary does not offer VOA, but many nationalities can enter for up to 90 days without a visa within a 180-day period.
• Digital Nomad Visa
  Hungary doesn’t have a specific digital nomad visa. However, remote workers may apply for a long-stay visa or residence permit if they can prove sufficient income and meet certain professional criteria. This visa can allow stays of more than 90 days for business or self-employment purposes.

For visa information, visit the Hungarian Ministry of Foreign Affairs and Trade.

Cost of Living

Accommodation
Budapest is relatively affordable compared to other Western European capitals, though rental prices have been rising in recent years.

• Budget: Shared apartments or hostels can cost between $15-40 per night.
• Mid-range: Private apartments or hotels range from $50-120 per night.
• Luxury: Upscale properties can cost $150-300 per night.

Food
Budapest has a range of culinary experiences, from budget-friendly street food to fine dining.

• Street Food: Traditional Hungarian street food like langos or kebabs costs around $2-6.
• Mid-range Restaurants: Meals for two at a mid-range restaurant cost about $20-50.
• Fine Dining: Expect to pay $70-150 for a meal at a top-tier restaurant.

Transportation
Budapest has an efficient public transportation system, including metro lines, buses, and trams.

• Public Transport: A single ticket costs $1.00, and a monthly pass is around $30.
• Taxis: The base fare is $3.00, with an additional charge per kilometer.

Healthcare
Hungary has a high standard of healthcare, and expats can access both public and private services. Public healthcare is available to residents, while private insurance or out-of-pocket payment is an option for expats.

Climate & Weather

• Summer (June to August): Average temperatures range from 25°C to 30°C (77°F – 86°F), with occasional heatwaves reaching up to 35°C (95°F). It is the best time for outdoor festivals and sightseeing.
• Winter (December to February): Winters can be cold, with temperatures dropping to -5°C to 5°C (23°F – 41°F). Snowfall is common, especially in January and February.
• Spring (March to May): Spring brings temperatures ranging from 10°C to 20°C (50°F – 68°F). It’s an ideal time to explore the city’s outdoor parks and gardens.
• Autumn (September to November): Autumn temperatures range from 10°C to 20°C (50°F – 68°F), with crisp air and beautiful fall colors, making it a pleasant time for walking tours.

Landscape

Budapest is beautifully positioned along the Danube River, with stunning views of the Buda Hills and the Pest plains. The city is known for its green spaces, including the expansive City Park (Városliget) and Margaret Island, a peaceful retreat in the middle of the river. With an interesting blend of modern and historical architecture, Budapest’s landscape is a treat for both nature and city lovers.

Things to Do

• Heritage Sites
  • Buda Castle: A UNESCO World Heritage site, this castle offers incredible views over the city and is home to museums and galleries.
  • Fisherman’s Bastion: A stunning terrace overlooking the city, offering one of the best panoramic views of Budapest.
  • Stephen’s Basilica: A beautiful neo-classical church with a stunning dome and one of the most important landmarks in the city.
• Adventure Activities
  • Thermal Baths: Budapest is famous for its historic thermal baths like Széchenyi and Gellért, offering a unique wellness experience.
  • Danube River Cruises: A river cruise is a great way to see the city’s landmarks from a different perspective.
• Nightlife
  Budapest’s nightlife is legendary, particularly in the ruin pubs in the Jewish Quarter. Some of the most popular spots include Szimpla Kert and Instant, which offer a unique, eclectic vibe with live music, DJs, and drinks.
• Wellness Retreats
  • Spa Treatments: In addition to thermal baths, Budapest has a growing wellness scene with yoga studios, meditation centers, and health spas offering services for relaxation and rejuvenation.
• Shopping
  • Váci Street: A popular shopping street in the heart of Budapest, lined with boutiques, cafes, and international brands.
  • Great Market Hall: A beautiful market offering local products like Hungarian paprika, craft goods, and fresh produce.

Lifestyle

Budapest offers a blend of both urban convenience and relaxed living. The city is known for its efficient public transportation system, vibrant café culture, and extensive green spaces. It’s common to see locals cycling along the Danube, spending weekends at thermal spas, or relaxing in one of the many parks.
Budapest is an easy city to integrate into, with a growing international community and an openness to different cultures. English is widely spoken, particularly in areas frequented by tourists. Social life revolves around café culture, bars, and cultural activities, making it easy for expats to socialize and make friends.

 Other Important Locations in Hungary

• Lake Balaton: The largest lake in Central Europe, ideal for water sports, hiking, and beach vacations.
• Eger: Famous for its wine and thermal baths, Eger is a charming town in the northeastern part of Hungary.
• Pécs: A picturesque city known for its Mediterranean feel, ancient Roman ruins, and vibrant arts scene.

Rental Accommodations

• Budget: Shared apartments or hostels range from $10-30 per night.
• Mid-range: Private apartments or hotels range from $40-90 per night.
• Luxury: High-end hotels or luxury apartments can cost $120-250 per night.

Co-Working Facilities and Costs

Budapest has a strong co-working culture, with spaces like Kaptár, Loffice, and The Workary being popular among freelancers and entrepreneurs. Co-working spaces in Budapest can range from $155 – $370 per month, depending on the location and amenities.

Connectivity

• WiFi: WiFi is widely available in Budapest, with reliable speeds in hotels, coworking spaces, and cafes. Free public WiFi is also accessible in tourist areas and transportation hubs.
• SIM: Telekom, Telenor, and Vodafone offer prepaid SIM cards with affordable data plans. SIM cards are available at airports and retail shops.

Volunteering Opportunities

Budapest offers many volunteering opportunities, particularly in areas such as refugee support, environmental sustainability, and community outreach. Organizations like Volunteering Budapest and Red Cross Hungary provide opportunities to give back to the community.

Local Employment Options

• Teaching English or other languages.
• Jobs in multinational companies or shared service centers.
• Tourism-related roles in guiding or hospitality.

Real Estate Investment Options

Budapest’s real estate market is growing, with high demand for both residential and commercial properties. The central districts of District V and District VII are particularly attractive for investors. However, new laws restricting short-term rentals may impact potential returns, so investors should be cautious and stay informed.

Start-Up Ecosystem

Budapest is emerging as a strong start-up hub in Central Europe, particularly for tech, fintech, and e-commerce businesses. Co-working spaces and incubators like Startup Budapest and The Hive offer mentoring, funding, and networking opportunities.

Business Setup Process for Expats

1. Choose a Business Structure: Options include Kft. (Limited Liability Company) or sole proprietorship for smaller businesses.
2. Register Your Business: You must register your business with the Hungarian Company Registration Office.

1. Tax Number: Apply for a tax number at the National Tax and Customs Administration (NAV).
2. Obtain Permits: Depending on your business type, you may need specific permits (e.g., for hospitality businesses).
3. Open a Bank Account: Set up a business account in Hungary to manage company finances.
4. Enroll in Social Security: Ensure you register with the Hungarian social security system for healthcare and pensions.
5. VAT Registration: If your annual turnover exceeds the threshold, you must register for VAT.

Business Opportunities in Budapest

• Technology: Budapest has a thriving tech scene, with opportunities for software development, fintech, and blockchain
• Tourism: The city’s rich cultural and historical offerings make it a prime destination for tourism, with opportunities in hospitality, tour guide services, and tourism technology.
• Creative Industries: Budapest has a booming arts and design scene, with opportunities in graphic design, film production, and advertising.
• Food & Beverage: From traditional Hungarian cuisine to international food trends, there are opportunities for restaurants, cafés, and food trucks.
• Real Estate: With the growing demand for both short-term and long-term rental properties, there is potential in property investment and property management