What you should know about settlement permit?

The investor’s permanent residence permit is a kind of life-long law, till the owner does not commit a crime, which implies its withdrawal.  The card proofing the permanent residence permit shall be renewed every 5 years, from the day of receiving of this card the owner of this card can travel, stay and do business in the member countries of the Schengen region freely.

What kind of rights provides the permanent residence permit?

The holder of the licence can enjoy equal treatment with nationals regarding:

  • access to paid and unpaid employment, conditions of employment and working conditions (working hours, health and safety standards, holiday entitlements, remuneration and dismissal);
  • homemaking interest subsidy of law;
  • education and vocational training, recognition of qualifications and study grants;
  • welfare benefits (family allowances, retirement pensions, etc.) and sickness insurance;
  • social assistance (minimum income support or retirement pensions, free health care, etc.);
  • social benefits, tax relief and access to goods and services;
  • freedom of association and union membership and freedom to represent a union or association;
  • free access to the entire territory of the EU country concerned;

After 8 years of obtaining the permanent residence permit they will be entitled to apply for Hungarian citizenship, in case of compliance with the recruitments provided by the law.

 

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