Company Formation Hungary
Hungary is a central European country that borders Slovakia, Ukraine, Romania, Serbia, Croatia, and Slovenia. The country has a population of more than 10 million and a GDP of more than $170 billion. This makes it the 55th economy in the world. The country is ranked as an OECD high-income mixed economy that has a high development index. The country makes most of its money from exports. Most of these exports go to the European Union. It is ranked at position 53 on the ease of doing business. The capital city is Budapest.
Why Register a Company in Hungary?
- Hungary is a landlocked country. This means that it borders other countries, which opens multiple trading opportunities.
- Hungary is a developed country, with high quality infrastructure.
- Government incentives especially for foreign companies.
- Low taxes.
- Member of the European Union and OECD.
- Affordable workforce.
Steps for Registering a Company in Hungary
There are two main methods of registering a company in Hungary. First, there is the simplified version. This involves using an online template to file the articles of association. This process can take a few hours, especially for small companies.
Second, there is the standard electronic filing that takes about three business days. In this process, you are required to register with the local municipality, Hungarian Tax Authority, Central Statistical Office, and Social Securities. There are no fees you are required to pay.
FAQs of Registering a Company in Hungary
What is the corporate tax rate in Hungary?
Hungary has the lowest corporate tax rate of 9%. This means that it has the lowest corporate taxes in the European Union. This is also one of the lowest tax rates in the world.
What types of businesses can be registered in Hungary?
There are various types of businesses that can be registered in Hungary. These are sole proprietorship, limited liability companies, joint ventures, branch of foreign companies, and partnerships.
Can I use a consulting company to register a company in Hungary?
Yes. At GFSC, we offer customized business registrations in Hungary and in all European countries. We have a team of qualified and experienced professionals who help to register the company.
What other support services should you use when registering a company in Hungary?
Some of the other services that GFSC offers in Hungary are tax registration, bank accounts, office registration, and legal representation.
Which language is mostly used in Hungary?
The most common language in Hungary is Hungarian. However, many people are learning English.
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