Hungary is a country that has a prosperous economy, high quality of life and an excellent geopolitical location. Due to these reasons, this country is incredibly attractive for foreign investment, as successful business deals can be made. The business environment in Hungary is welcoming and accommodating to foreign investment.
This European country has low taxes and a structure that stimulates the growth of any company. Doing business in Hungary involves great benefits that are worth knowing about to take advantage of fabulous opportunities. This country also poses challenges for those who want to do business there. The key is to know as much as you can about Hungary, with the goal of establishing the best business.
Benefits
Doing business in Hungary involves fantastic benefits that are worth knowing in order to enjoy great opportunities.
-Hungary is a member of the European Union and is located in the geographical center of Europe. You will be able to grow economically in Hungary and therefore you have the possibility to expand to other countries in the region.
-Hungary makes it easy to start any business. You will only need five working days to set up your company. You need a registered address in this country, a Hungarian bank account and an English speaking accountant.
-Hungary is a profitable country for any business. Real estate is cheap, it has low export barriers and has a business-friendly tax environment. In some specific cases, companies can operate without VAT.
-Hungary allows you to start your business with modest capital. Hungary has one of the lowest minimum capital requirements in Europe to start a business.
-Hungary allows instant VAT registration. The country gives the foreign investor-entrepreneur a free VAT number to start working as soon as possible. This represents an incredible saving of time and money for any entrepreneur.
Challenges
Doing business in Hungary also involves challenges to be aware of in order to successfully face any business.
-Getting construction permits takes at least three months.
-To do business in Hungary, you will need a lawyer to support you in the development of the corresponding procedures. The lawyer will take care of drafting and preparing the required documentation according to the case.
-The legal procedures for foreign and commercial matters in Hungary are complex. Litigation and various legal problems can take a long time to resolve.
Doing business in Hungary is highly convenient, the keys are good advice and knowing perfectly the advantages that this country offers.
Be the first to comment