Several international corporations choose Hungary to set up a subsidiary in Europe, giants like IBM or Microsoft among them. The most attractive features of the country are low taxes, affordable operation costs, a central location in the EU and full Schengen access.
Hungary is the only European country to have a single-digit corporate tax. Moreover, there is no turnover or profit cap for benefiting from this tax rate. This means that larger corporations are eligible for it just as well as small and medium companies.
Located in the geographical center of the continent, Hungary is easily accessible by air, rail, road or water. Regular flights connect the capital, Budapest, to most major cities in the world.
Being a full member of the EU and the Schengen zone has several benefits. First, EU nationals can live and work in Hungary without a visa or a work permit. Non-EU nationals enjoy full freedom of movement within the Schengen zone once they get their Hungarian residence permit. The lack of border controls makes business travel a breeze. Finally, EU-harmonised laws guarantee that there are no nasty surprises.
Hungary, including the capital, Budapest, has a much lower cost of living than Western Europe. Correspondingly, salaries are also lower, meaning you can hire and retain top talent at a fraction of the cost. Of course, lower prices also apply when renting business premises or hiring contractors, further economising your business costs.
An essential component of running a successful subsidiary in Europe is an accounting team that is familiar with local regulations as well as with international standards. Helpers offers full English-speaking accounting services that comply with International Financial Reporting Standards. We will help you make sure your Hungarian subsidiary is compliant and fully harmonised with the goals of the parent company. Contact us for more information about our comprehensive business solutions. Call our office on +36.1.317.8570 or send us a letter to info@helpers.hu
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