THE ART OF BEING LOCAL
IN HUNGARY
Company formation in Hungary: Your path to success with InterGest Hungary
Hungary is an attractive location for company start-ups with many advantages for company founders. Its central location in Europe, favourable taxes and a business-friendly / employer-friendly economy make Hungary an ideal location for your company.
With InterGest Hungary at your side, nothing stands in the way of a successful company formation in Hungary. Our experienced team led by Managing Director Nils Blunck will support you every step of the way and ensure that all legal and administrative requirements are met. From choosing the right company form to registration and initial business activities - we are there for you.
Nils Blunck is General Manager of InterGest Hungary. In 1993, after successfully completing his studies in history and national economics at the University of Hamburg, he began working for the EU Commission, planning, implementing and controlling EU support programmes for the countries of Central and Eastern Europe. From 1997 to 1999, Mr. Blunck served as advisor to the Hungarian Foreign Ministry on the country’s preparations for joining the EU. Since 1999 he has been supporting investors in their projects in Hungary and the neighbouring countries. Besides this, he is engaged in the activities of various economic and social institutions, e.g. as a member of the supervisory board of the German-Hungarian Education Centre, as CEO of the Wirtschaftsjunioren Hungary and as a member of the board of directors of the German-Hungarian Chamber of Commerce and Industry.
WHY SHOULD
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INVEST IN
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Advantages of setting up a company in Hungary
Hungary is an attractive country for entrepreneurs who want to set up a company. One major advantage is the low tax burden. Hungary offers companies one of the lowest corporate tax rates in Europe. There are also various tax incentives and subsidies for newly established companies.
Another plus point is the relatively cheap labour force in Hungary. Wages and salaries in Hungary are at a lower level compared to other European countries.
Hungary has a good infrastructure and a central location in the centre of Europe. The country has a well-developed road and rail network and is well connected to the international market. It also has a stable political and economic situation.
Overall, setting up a company in Hungary offers many advantages that make it an attractive location for entrepreneurs. Those who decide to set up a company in Hungary can benefit from the low tax burden, favourable labour force, good infrastructure and stable political and economic situation. With InterGest Hungary as your partner, you can focus on the growth and success of your business while we take care of the bureaucratic and administrative details. Contact us to find out more about company formation in Hungary and take the first step towards a successful future.
Legal basis for founding a company
When setting up a company in Hungary, it is important to know that there are different types of companies. These include, for example, the Kft (GmbH), the Zrt (AG) or the Kkt. (KG).
Firstly, an extract from the commercial register is requested to ensure that the desired company name has not yet been taken. A partnership agreement must then be drawn up that sets out the exact details of the company formation.
The founders open a bank account for the company and pay in the share capital. This is required by law in Hungary and amounts to at least 3 million forints for a Kft. and 5 million forints for a Zrt.
Once these steps have been completed, the founders can register the company with the competent commercial court. The necessary documents such as the articles of association and the extract from the commercial register must also be submitted there.
It is advisable to obtain detailed information about the legal requirements in advance and, if necessary, to seek professional help to ensure that the formation process runs smoothly. InterGest Hungary helps you to realise your company formation locally in a future-oriented and legally compliant manner.
Tax aspects when setting up a company
In Hungary, there are various types of tax that must be taken into account when setting up a company. These include corporation tax, value added tax and income tax. Corporation tax in Hungary is 9%, which is very low by European standards and makes Hungary an attractive location for company start-ups.
When it comes to VAT, companies in Hungary must observe the statutory tax rates, which can vary depending on the product or service. It is important to find out about the regular tax rates and any tax reductions or exemptions.
Income tax also plays an important role when setting up a company in Hungary. Entrepreneurs must ensure that they pay tax on their income correctly and fulfil all tax obligations. It is advisable to consult a professional partner company for tax and financial advice. InterGest Hungary will competently clarify tax issues for you in advance and support you in benefiting from tax advantages. Based on the tax planning and advice provided by InterGest Hungary, you can optimise your tax burden and successfully establish your business in Hungary.
Frequently asked questions about company formation in Hungary
What types of companies are there in Hungary?
In Hungary, there are several types of companies, including the sole proprietorship (sole trader), the limited liability company (Kft.), the joint stock company (Rt.) and the partnership (Bt.). The choice of the right type of company depends on various factors, such as the limitation of liability, the formation costs and the share capital requirements.
How long does it take to set up a company in Hungary?
The duration of the company formation process in Hungary can vary, but is usually between two and four weeks. This depends on the type of company and the completeness of the documents submitted. InterGest Hungary helps you to speed up the process by ensuring that all the necessary documents are correct and complete.
What documents are required to set up a company in Hungary?
The required documents usually include a valid passport or identity card, proof of residential address, the company's articles of association and other specific documents, depending on the type of company chosen. InterGest Hungary will provide you with a detailed list of the required documents and assist you in obtaining them.
What tax advantages does Hungary offer companies?
Hungary offers attractive tax benefits for companies, including a low corporate tax rate of 9%, which is one of the lowest in Europe. In addition, there are various tax incentives and subsidy programmes that support companies in certain sectors. InterGest Hungary can provide you with comprehensive advice on the tax aspects and help you find the best options for your company.
How does InterGest Hungary support company formation in Hungary?
Setting up a company in Hungary can be a worthwhile investment opportunity, as the country offers an attractive location for entrepreneurs. However, the legal and administrative requirements for setting up a company in Hungary pose a challenge.
InterGest Hungary offers comprehensive services based on many years of experience and excellent local networking, covering the entire incorporation process. These include: advice on the choice of the appropriate company form, preparation and submission of all necessary documents, representation before authorities as well as payroll, business process outsourcing, accounting, ongoing tax and legal advice, day-to-day fiduciary administrative work, reporting and controlling. Our aim is to work with you to realise a smooth, sustainable and successful company formation. Please do not hesitate to contact us.
Where to find Intergest Hungary?
InterGest Hungary has its company seat in Budapest. The office is located in the “House of the German Economy”, which belongs to the German-Hungarian Chamber of Commerce, in the heart of the Buda side of the Hungarian capital. The city offers outstanding international travel connections and state-of-the art transport infrastructure: an international airport and train stations, well developed road network and public transport system.
