What to do before retiring to Hungary

Retiring to Hungary allows a tranquil and inexpensive lifestyle.

Where did the time go? It feels like just yesterday you got married, had kids, and started a family life of your own. Or some combination of the above… Before you knew it, the time for retirement arrived at your doorstep. After much deliberation, you decided that you’re better off retiring to Hungary. But now what? Here are some things to consider before you leave.

Tips for retiring to Hungary

1. Find accommodation before your big move.

The last thing you want to do when retiring to Hungary is to arrive (bags and all) without a place to stay. Check out our guide to Hungarian property websites for professional and knowledgeable relocation assistance. Whether you’re looking to finance a property purchase or rent a home in Hungary, you will find that it is always easier to work with real estate lawyers.

2. Apply for permits.

After you apply for passports for you and your family, you will probably need to apply for residence permits. Applying for these documents can be a lengthy process, but once you understand the legalities and have a professional on board to help you, it can be quickly and easily obtained.

3. Learn some basic Hungarian phrases.

Upon arrival, you’ll thank yourself for learning some basics of the Hungarian language, although many locals do speak English.

4. Open a Hungarian bank account.

Although you can have your pension funds deposited to your home country bank account, it might be much more practical to set up a Hungarian bank account. Our team of immigration lawyers can help you open your account upon your arrival.

Sell your car or apply for a Hungarian driver’s license.

If you plan to relocate to Budapest, you’ll almost surely be able to get by without your own car. Hungary has a brilliant public transport system that’s easy to use and very reliable. Should you decide not to use public transport, you can always take your car with you and apply for a Hungarian driver’s license.

6. Consider your health care options.

Hungary has a world-class health care system, but you might need to make alternative arrangements for your healthcare needs for retiring in Hungary. Third-country nationals do not have access to free health insurance in Hungary and are only entitled to essential health care services which also cover emergency and acute conditions. Learn more about your options by following this link.

7. Keep your costs of living in mind.

Hungary is the world’s 48^th most expensive city to live in, which makes it a budget-friendly destination for expatriates. The cost of living in Hungary is on par (in some cases below) that of other European countries. Budapest is ranked 176^th out of 209 cities in the world for living costs. It offers expats a low cost of living, which might be the welcome change you really need to see during retirement.

How our team of experts can help you

If you are keen on retiring in Hungary but feel like you need legal assistance with organising your move, we are more than happy to help. Go ahead and get in touch with us today. Your retirement dreams are just a click away!