Many say that Budapest, the capital of Hungary, is on its way to become the next start-up hub of Europe. This is not surprising when you consider the most important things for a start-up: being cost-effective, attracting top talent and retaining their motivated employees. Let’s see how setting up your startup in Hungary helps you with these goals.
Budapest has a much lower cost of living than Western Europe. The price of housing and services is especially low compared to western cities. This lets you and your employees have a much better standard of living for the amount of money you’d spend elsewhere. As a result, you can hire top talent while spending less money.
Not only everyday life is cheaper in Hungary. The benefit extends to business services like office space, accounting or tech support. Plus, there are several options for finding a place for your startup to do its thing. Co-working spaces and shared offices are very popular, and also great way to build your business network.
Corporate tax in Hungary is only 9%, which is the lowest rate in Europe. All companies regardless of size and turnover can benefit from this flat rate. Best of all, it also applies to foreign-owned businesses, and you do not need a Hungarian co-owner to enjoy its perks.
Incorporating a company in Hungary is the fastest on the continent: it only takes 4-5 business days after the articles of association are signed. If you want to minimise your travel commitments, you can sign the documents via a Power of Attorney, and only visit Hungary once your company is up and running.
Helpers has assisted foreign businesspersons setting up their Hungarian company for more than 10 years. We know all there is to know about our niche, so we can make sure you will sail through the administrative processes as smoothly as possible. Contact us for a quote at info@helpers.hu.
Last Updated 27.11.2019
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