Are you wondering where you should open a company in Europe? Choose Hungary! Opening an LLC in Hungary is simple and fast, so it offers a time- and cost-effective solution when moving your business operation to Europe.
Hungarian company formation itself takes only a few work days, while in other European countries the procedure may take months and months.
The super-low 9% corporate tax, which is based on your profit can be further diminished by various items, including contribution to government approved projects.
If you open a Hungarian company, you receive an EU VAT number together with your Hungarian VAT number, which means you can start international trading as soon as your company is up and running, without any further wait – unlike many other countries, where receiving an EU VAT number may take as long as 6 months.
VAT in Hungary is usually 27%. While this may seem much, if you trade mostly internationally with other EU companies, Hungarian VAT may not apply. The Hungarian VAT can be reclaimed in certain cases. Please contact your accountant for further advise on this topic.
You can register your Hungarian company with the Hungarian Chamber of Commerce right at company formation. Your company must remain a member until it is operational.
In Hungary, anyone can register a company regardless of nationality. While in some European countries a certain percentage of the company must be owned by local legal persons, there is no such restriction in Hungary. Mind you: having business ties to Hungary, contact to or preliminary contracts with local business partners with who you can start a cooperation after your business is registered can ease your way in bureaucracy, e.g. in bank account opening.
The number of shareholders of a Hungarian company is not limited, so you can set up a company either on your own, or together with your business partners – however it best matches your business goals.
If you operate a Hungarian company, you can perform only activities registered for it in the company registry. You can select as many activities as you want from a unified list of possible activities, and these do not even have to be related in case your business entails a diverse range of activities.
Hungary is located in the middle of Europe. Whether you want to engage in trade with the East or the West, you and your goods can quickly reach either thanks to the excellent infrastructure and the central location.
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Are you planning to do business in Hungary? You have several options – you just need an idea for your operation, and find the business form that suits it best. Company formation or self-employment? VAT or no VAT? Which tax regime? Let’s give you a crash course.
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Foreign-owned companies have been contributing massively to Hungarian economy over the last fifteen years. Get an overview of what this means in numbers, and consider how your business might fit a niche on the Hungarian market.
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