Hungary Business Visa vs Portugal D2 Visa: Which Route Fits Your Situation in 2026?

Hungary. The applicant must be a non-EU and non-EEA national aged 18 or older, with no criminal record and no prior refusals or deportations from Hungary. The permit is available to people intending to carry out independent gainful activity as a self-employed person, and to those who will act as an owner or managing director of a company registered in Hungary. Applicants who want to perform work in the company beyond the directorial scope require a separate employment residence permit or the Hungarian Card.

Portugal. The D2 visa is open to non-EU/EEA nationals who are entrepreneurs opening or operating a company in Portugal, self-employed professionals offering independent services, or investors acquiring a stake in an existing Portuguese company. Portugal's immigration authority (AIMA) has applied stricter scrutiny since 2025, with a higher bar for demonstrating genuine economic or social viability.

Neither route sets a mandatory investment figure. Both require real business activity and documented financial resources. The table below sets the two routes side by side on the financial variables applicants ask about most, sourced from official government documents and our partner legal database, current to 2026.

The two programmes differ substantially in how they assess the business case.

Hungary. Applications require a detailed declaration of business activity and proof that the applicant's presence in Hungary is essential for the company's operation. The business plan must originate with the applicant; advisers help structure and present it, but the commercial rationale is the applicant's responsibility. The immigration authority (NDGAP) assesses whether the business is genuinely viable. Renewal after the first year depends on demonstrated business activity; the company must be operational, not dormant.

Portugal. Portugal's D2 business plan carries considerably more weight. Since 2025, consulates assess whether the proposed activity could create jobs, generate tax revenue, or advance a technological or social purpose. A café or generic retail store faces a harder approval path than it would have three years ago. Freelancers on the professional-activity route must provide a service contract or written proposal and evidence of relevant qualifications. Entrepreneurs on the company route must present incorporation documents, a Portuguese corporate bank account statement, and proof of available funds aligned with the business plan. Since April 2025, incomplete applications are rejected at submission with no opportunity to supplement.

Hungary's process typically completes in four to six months. Document preparation and company registration come first; the consulate appointment and permit issuance follow, with processing of the application itself typically taking one to two months from submission.

Portugal's process is longer. Document preparation takes 30 to 60 days. The consulate generally takes 60 to 90 days to decide on the national visa. After entering Portugal, the applicant must attend a biometrics appointment at AIMA within 120 days of visa issuance, and the residence permit is issued approximately 45 to 60 days after that visit. The end-to-end timeline is approximately nine months. AIMA backlogs have extended this in practice, particularly in Lisbon and Porto.

Under Hungary's Guest Self-Employment permit, family members cannot apply for family reunification during the first 12 months. The law (Act I of 2007, as implemented by the OIF family reunification factsheet) is explicit: the application for family residence opens only at the time of the main applicant's first renewal, after the first year of the permit. There is no procedural workaround. Eligible family members are the spouse (including registered same-sex partners) and dependent minor children under 18.

Under Portugal's D2 route, no comparable waiting period exists in law. Family members apply under the D6 family reunification visa once the main applicant holds a residence card. Eligible family members under Portuguese Law 23/2007 include the spouse or de facto partner, dependent minor children under 18, adult dependent children who are still in full-time education, and dependent ascendants. In practice, the D6 application can begin within months of the initial D2 residence card being issued. For applicants relocating with a partner, children, or a dependent parent, and wanting them alongside from the start, Portugal is the more practical choice.

Hungary. Companies resident in Hungary pay corporate income tax at 9%, the lowest statutory rate in the EU. A local business tax (iparűzési adó) of up to 2% on adjusted revenue also applies, set by the municipality where the business operates. Personal income tax is a flat 15%, applicable to salary and dividend income. The 9% rate applies at company level; how much reaches the director personally depends on the chosen salary and dividend structure. Hungarian tax residency arises if you spend 183 or more days per year in Hungary.

Portugal. D2 holders who spend more than 183 days per year in Portugal, or who establish Portugal as their primary residence, become Portuguese tax residents subject to the progressive income tax (IRS). The IFICI regime, which replaced the NHR from January 2024, offers a flat 20% rate on qualifying Portuguese-source employment and self-employment income, along with exemptions on most foreign-source income. IFICI is not automatic: it requires an application to the Portuguese Tax Authority by 31 March of the year following the year you become resident, and eligibility depends on your activity type (IT, research, highly qualified activities, and others specified in EBF Article 58-A). Not every D2 applicant will qualify.

The comparison between Hungary's 9% corporate rate and Portugal's standard IRS rates is real, but the right answer depends on your specific income structure, how much you draw as salary versus dividends, and whether you qualify for IFICI. Neither outcome is guaranteed without professional tax analysis.

Hungary. The Guest Self-Employment permit is capped at three years in total: the initial permit is valid for one year, with a single extension of two additional years. The law is explicit that holders of this permit are not eligible for a national residence card (permanent residency) and cannot obtain Hungarian citizenship through this route. If you need a long-term EU residency path, this programme does not provide one; transitioning to a different permit category requires meeting separate eligibility criteria.

Portugal. The D2 residence card is issued initially for two years, then renewed for a further three years. After five years of legal residence, D2 holders may apply for permanent residency. Portuguese citizenship follows the naturalisation requirements under Portuguese nationality law: Lei Orgânica n.º 1/2026, in force since 19 May 2026, introduced a general threshold of 10 years of legal residence. Applicants who had a nationality application on file at the IRN (Civil Registry) before 18 May 2026 retain the earlier five-year threshold. New applicants entering residence after that date will be assessed under the 10-year rule. The five-year path to permanent residency remains unchanged under both timeframes.

The table below maps common applicant profiles to the more suitable route, based on the decision variables above.

Neither programme is inherently better. Hungary suits a founder who wants to operate for a defined period in a low-tax EU environment and does not need long-term residency or family reunion from the outset. Portugal suits a founder building toward European permanent residency or eventual citizenship, particularly one who needs family alongside from the start.

The facts above set out the rules. Whether Hungary or Portugal makes sense for you depends on your income structure, family composition, tax position, and what you are building toward in the next decade.

The team at My Golden Visa works with clients on both routes and can review your profile before you commit to either application. Speak to an adviser to explore which programme fits your circumstances.