If you operate a company in Hungary, sooner or later you might need to make hires. Your employees can perform tasks essential to growing your business. To optimize your operation, make sure you keep in mind these 5 things before you make your first hire. 1. What do you need the employee for? You do …
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Hungarian company formation is allowed for any legal person who is not specifically forbidden from doing so. But how does that work in practice? Anyone can set up a company in Hungary In Hungary, the most popular form of business is the LLC. Any legal person can set up a company who is not expressly …
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Are you managing a Hungarian company? Do you need a physical office? Depending on how much you intend to use it, you might be better off with options provided by a coworking space. What do you need a physical office for? Most businesses in Hungary do not need a physical space of operation right from …
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In Hungary, data of any company are registered with the Company Registry, and it is the owner’s or the executive’s responsibility to keep those data up to date. Some changes can be simply reported, but changes to core data require a more complex procedure called company modification. Learn what these are, and how to handle …
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While the 9% corporate tax in Hungary is already the most favorable option in the EU, you can further reduce what you pay in taxes with KIVA, the tax regime designed for small and medium sized companies. Let’s see if it is a good match for your Hungarian company! Are you eligible for KIVA? First …
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Every Hungarian company must have a local bank account, which you can only open in person. In a previous article, we explained what Hungarian banks expect from foreigners and how you can prepare for your bank appointment and the KYC procedure. This time, we focus on the arrangements that should make your bank account opening …
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If you are setting up a company in Hungary, you will need a corporate bank account. Over the last few years, bank policies have changed, so bank account opening in Hungary for your company as a foreigner has various aspects you should be aware of if you want the process to be smooth and swift. …
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In the 21st century, you rightly expect administration to be available online as well as in person. And it is! Hungary has customer portals operated by the government that give you access to electronic administration – both as an individual and as the manager of a Hungarian company. Learn about them with us. Electronic administration …
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When registering your Hungarian company, you should also indicate its main activity. You do not simply state what you are planning to do: there is an official list, accepted by all EU countries, and you select the item that suits your planned activity the most. Each activity has a numeric ID, which is called their …
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