Open Society Foundations will move its worldwide operations in Budapest to Berlin in Germany, according to a press release Tuesday.
Mr Soros' Open Society Foundations said it was shifting its office to Berlin in the face of an "increasingly repressive political and legal environment" under the nationalist government.
The legislation, invoking national security interests, would block any organization from advising or representing asylum seekers and refugees without a government license.
Orban has accused Soros of being a part of a technique to flood Europe with migrants and of meddling in home affairs.
Hungarian Prime Minister Viktor Orban and members of his FIDESZ party celebrate from the podium on the bank of the Danube River after winning the parliamentary election on April 8, 2018 in Budapest.
Soros has remarked that the Hungarian government was attempting to slander him by pushing "distortions and lies".
Orban's Fidesz also ran an anti-immigrant billboard campaign, underwritten by the Hungarian government, which showed a picture of Soros laughing alongside the words, "Let's not leave Soros the last laugh".
Soros, through his Open Society Foundations initiative, has pushed for pro-immigration policies attracting the ire of Orban and his supporters.
Soros' Foundations have about 100 employees in Budapest.
Soros launched his first foundation in Hungary in 1984, using it to promote freedom of expression during the last years of Communism, the OSF said.
Orban is leveraging his recent massive electoral victory to restrict the political influence of NGOs, many of which received millions from Soros, a Hungarian who escaped the country before Nazis invaded.