Сase: Residence permit in Hungary for opening a bank account?

Customer pain?

No possibility to open a corporate account to work in Europe. The client has overstayed in Belgium and has been banned from entering the Schengen Union for six months and fined. 

What request did the client come with?

The client has requested a residence permit for himself, his spouse and two children in a European country. He sees this as a solution to the problem of opening bank accounts.

Why would he not be willing or able to realize the task on his own?

He was aware of the complexity and difficulties he could encounter in completing all the necessary paperwork and interacting with migration officers on his own.

What solution did we offer and why?

We studied the situation, reviewed the client's business and counterparties, and offered him a residence permit in Hungary. 

We advised at every stage, helped to execute the documents, accompanied the client to the authorities when he submitted biometrics. 

Our company had extensive experience in the field of immigration and investment, which allowed us to offer the most effective and reliable solutions.

Were there any difficulties in solving the request – what were they?

There were complications in the solution process related to the Schengen travel ban. 

Duration of the case?

The turnaround time of the case was 6 months, including preparation of documents, approvals and passing through all the necessary stages.

What specialists were involved?

  • lawyers;
  • consultants specializing in immigration and investment issues;
  • a banking specialist to open a bank account where money was transferred to buy real estate in Hungary. 

Result?

As a result of our work, the client obtained an investment residence permit in Hungary for himself and his family. This gave him the opportunity to open a corporate account and further develop his business in Europe. In addition, the client is now free to travel within the Schengen area and other EU countries.

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