If you are not sure where to form a company in Europe, Hungary is your best choice, as Hungarian company formation is the fastest in Europe. After you file the necessary documents, your company can be up and running within only 4-5 business days!
For this, first you will have to register your company, which can be done either in person or by a power of attorney (POA). The company will automatically receive an EU VAT number as well as a local tax number – no further requirements or lengthy wait!
The EU VAT number is required for international trading. You will use the local ID number when paying taxes and contributions. Corporate tax in Hungary is only 10%, which is among the lowest in Europe.
UPDATE: Corporate tax in Hungary is 9% as of 1 January, 2017. For more information, read our article here.
If you choose to set up the company via POA, you only need to come for one day to open the bank account – this is the only part of the procedure where your personal presence is necessary. You have 8 days to do this after the registration of the company. You can chose any local or international bank with branches in Hungary.
Although Hungarian company formation is the fastest in Europe, settling in a new environment, a new country can be overwhelming. The company start-up package from Helpers Hungary is a complete service package, which will help you get through the initial administration and take the first steps toward running a successful company.
If you need further info, please contact Key Account Manager Lívia Buzás at livia@helpers.hu. You can also call us anytime 9 a.m. –5 p.m. CET Monday through Friday on +36-1-317-8570. Ask for a free consultation!
Last Updated 26.11.2019
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