When starting a business, a lot of work is required, including legal issues, taxes, and laws. Currently, the business environment in Hungary is rather competitive, and specific advantageous factors include tax benefits and Hungary’s central European location. The establishment of a company for local or international business owners becomes much easier with a good consultancy.
Firmax Hungary specializes in helping entrepreneurs and businesses effortlessly set up their presence in Hungary. Our team of consultants will provide consultation on how our clients in Hungary will form a company. We provide exclusive service that puts the focus on doing business instead of worrying about legal and regulatory matters.
The Benefits of Company Formation in Hungary
There are lots of merits to the worthiness of doing business in Hungary. They include:
- Low Corporate Taxes: The corporate tax rate in Hungary is lower than in the United States and also lower than most countries in the European Union. Seven percent of the people have a very low opinion of the corporate tax rate, which is only 9% for Hungary. It is a real blessing for entrepreneurs whose basic aim is to increase profitability.
- Pure EU: Being in the European Union, Hungary provides access to the single market of the EU to companies, which will enable them to trade freely with other EU member states.
- Skilled Labor: Highly qualified and competitive labor in Hungary; potential employees are available, especially in the fields of technology, finance, and engineering.
- Strategic Location: With Hungary’s central location in Europe, cities all around Europe can easily connect, making it a suitable international trade hub.
Still, the company formation Hungary process is challenging for foreign investors in Hungary. This is where Firmax Hungary comes in, providing you with expert services to ensure your business setup is smooth and hassle-free.
How Firmax Hungary Can Help You Form a Company?
Firmax Hungary provides full services to those who would like to establish a legal entity in Hungary. Our professionals will ensure that clients receive customized services based on their company requirements. Here is what we can do for you:
Choosing the Right Company Structure
There are distinct kinds of business structures in Hungary based on the different business models. Whether it be a Limited Liability Company, a Private Company Limited by Shares, or anything from a Branch Office, we will assist you in choosing the most compatible structure. This will be in line with your objectives, the size of your business, and your investment in capital.
- Limited Liability Company (Kft.): Kft. is mostly suitable for small and medium-period firms where all the assets of the members are protected.
- Private Company Limited by Shares (Zrt.): It is the type of company given to larger firms with more than one shareholder. It is most common in businesses that need a substantial amount of capital to be invested in.
- Branch Office: If you are already conducting business in a foreign country, we may assist you in establishing an office in Hungary, thus operating a business without having to register it in Hungary as a separate company.
Our workers will provide you with information on the aspects and drawbacks of each type when in use and lead you to the correct form most suited to your business transactions.
Company Name Registration
It is essential to have a unique and memorable company name because it leaves an impression for branding and legal purposes. Our team will help you register a company name according to Hungarian regulations. We also check for name availability so that there are no possible conflicts with existing businesses and ensure that the name is cleared for registration as well.
Document preparation
One of the longest portions of forming a company is generally paper preparation. Firmax Hungary will take care of this for you. We draft and send the Articles of Association, assist with Proof of Address for your business, and ensure that all identification documents are submitted as they should be.
We will assist you in depositing your minimum share capital into the Hungarian bank account to fulfill the financial requirements so that your company can register.
Registration with the Hungarian Court of Registration
After preparing the documents, your next step is to register your company before the Hungarian Court of Registration. Firmax Hungary shall submit your documents, and all registration aspects will be encompassed, including the registration fee. Following approval, your company will get a company registration number that will allow you to operate your business legally within Hungary.
Tax and VAT Registration
Hungary has a simple tax system, although it is necessary to be properly registered for taxes. Firmax Hungary will register your company with respect to Value Added Tax (VAT) if required and guide you through other tax registrations related to your specific business activity. Here are ways we can help structure your business so you can enjoy the tax efficiencies associated with Hungary’s favorable tax incentives and corporate tax rate.
Ongoing Support and Compliance
After your company’s formation, Firmax Hungary’s continual support will keep you compliant with laws and regulations in Hungary, which include:
- Filing your annual tax returns: We will prepare and submit annual tax returns and ensure strict compliance with all the conditions on your business’s part.
- Accounting and Bookkeeping Services: We have our team of professional personnel to manage accounting and bookkeeping services for your financial statement and tax compliance.
- Legal Advisory: We provide legal consultancy services as a guide through Hungarian corporate law and protuberance-from-the-norm of mainstream problems.
Why Choose Firmax Hungary?
We are at Firmax Hungary with provisions to make it even easier for clients to process incorporation services that are added to services for time-efficient delivery. Here is why many businesses trust us:
- Proficient: Our team consists of qualified consultants, legal experts, and accountants specializing in Hungarian business law and regulation.
- Tailored: We personalize services to your unique business requirement, whether you are a startup or a serious player.
- All-in-one service: If there’s a process of company incorporation, Firmax Hungary All Business Services are on the go. You’ll find all the services needed to run your business in Hungary in one place, from company formation to ongoing compliance.
Final Thoughts
If you’re planning to start your business in Hungary, Firmax Hungary is there for you. Our professional team guides you through the process of company formation in Hungary while pointing out all the legal aspects that one needs to consider and letting you know what to focus on.
If you are interested in company formation in Hungary and willing to go through the many procedures involved in the process, feel free to contact us now. Let Firmax Hungary be your partner in building a successful business throughout one of Europe’s most dynamic markets.