If you are interested in looking for promising jurisdictions for opening an international business, then registering a company in Hungary in 2020 will be more, than an interesting offer. Hungary is an independent state, located in the east of Europe. The Republic of Hungary is a country with a rapidly developing economy. Among the most developed areas are: an automotive, oil and gas production and refining, a chemical industry, pharmaceuticals. The capital of the state is Budapest. The country's currency is the Hungarian Forint (HUF). Hungary is one of such international organizations as: the European Union, the Council of Europe and others. Why is registering a company in Hungary a profitable solution?
Hungary business benefits
The number of people, wishing to register a company in Hungary or to open an account with a Hungarian bank, is growing every year. The main reason for this is the extremely favorable business climate of the country. Among the main advantages of this jurisdiction, it is worth emphasizing the following:
- a stable economic and political situation of the country;
- an excellent environment for the development of small/medium-sized businesses;
- a high level of interest of the country in foreign investment;
- a relatively fast obtaining of a residence permit, a permanent residence (3 years of residence) and a citizenship (8 years of residence);
- a visa-free travel in the Schengen area;
- low taxes;
- a highly developed banking system;
- a simplified financial reporting system.
If you want to open a company in Hungary remotely, then pay attention to this list of the most promising business niches in 2020: an electronic industry, a tourism, an agriculture, the energy, a transport industry.
Main legal forms in Hungary
Intending to register a commercial enterprise in Hungary, you will need to decide on the most acceptable legal form for you:
- an Open Joint Stock Company with Limited Liability (RT);
- a Closed Joint Stock Company with Limited Liability (ZRT);
- a Limited Liability Company (Kft);
- a Partnership (Kkt);
- a Limited Partnership (BT).
Recent statistics show, that the most popular forms in Hungary are Open Joint Stock Company (RT) and Limited Liability Company (Kft).
What you need to register a company in Hungary?
A remote registration of a Hungarian firm is possible subject to the following conditions:
- a statutory fund is 20 million HUF (for RT), 3 million HUF (for ZRT), for other forms is zero;
- a number of founders/directors is1 (both an individual and a company);
- a Board of Directors (for RT) is from 3 people;
- a mandatory presence of a legal address, a registered office in the country;
- a mandatory presence of a secretary.
If you wanted to register a Hungarian company, then pleasant news awaits you in 2020: the corporate tax rate in the country is only 9%. This is one of the lowest rates in Europe.
- a VAT is 27%;
- a holding company real estate tax is 9%;
- an income tax for energy suppliers is 31%;
- a local business tax (LBT) is from 2%, depending on the municipality.
How to register a company in Hungary?
By contacting YB Case specialists, you can quickly and easily set up a company in Hungary, get legal advice on opening a corporate account with a Hungarian bank or on obtaining a business license in Hungary. With the timely submission of all necessary documents, the registration period for a company in Hungary will be 10-12 days.