One of the most common ways for Hungarian people to fund their lives abroad is by using their property as a business.
For Hungarian people as EU residents, there are no limits about working or starting a business in Spain, other than adapting to local regulations and taxes. One of the most common ways to do this is by renting out their property during the time they are not using it, or by turning their home in Spain into a B&B business.
If you don’t see yourself doing that, you can also start your own business in Spain. You can buy a franchise, an existing company or start something from the beginning. This is not an easy option and it involves some risks, but if you have experience in running a company it could be a good way to keep your lifestyle when moving to Spain. You have to take into consideration economic conditions, it can be tough to start your business in Spain as a foreigner – regulations in Spain might not work out for you, and of course there is also a language barrier.
You also need to think about the logistics involved to earn a living in Spain. Running a bar or restaurant is a popular option among Hungarians when moving to Spain, but you will need to make a good research before you initiate the project of opening a bar/restaurant in Spain. How is the competition like? Who will be your clients? How season is going to affect your business in Spain? How will you find suppliers? If working with your partner, how will this affect your relationship? How many hours do you want to work each day, will you be happy work on weekends? When you deeply think about these questions, you will have a better idea of what type of job you are prepare to do in Spain.
Another option is to create a business online. Find in your skills something you are good at to sell as a service or product, something that allows you to work from home– as a writer, editor, programmer, graphic designer, project manager, accountant, telesales etc. The great thing about Internet project work is you can choose how busy you want to be.
It is always important to remember that it might be hard to compete with the local market. Spanish market is quite saturated and unemployment rates are quite high among some sectors.
Whatever you decide to do to earn money in Spain, make sure you budget the expenses and incomes you are going to get before leaving. The safest way to do this is to contact a recommended financial advisory firm in Spain.
