New business setup in Hungary
Hungary, situated strategically in Europe, is becoming more and more popular among entrepreneurs looking for stability and opportunities for expansion. Learn about the necessary steps, advantages, obstacles, and legal choices when establishing a business in Hungary. In addition, we offer efficient solutions for setting up a business smoothly online and remotely.
Formalities and procedures
We offer a range of services to assist you at every step and ensure that you meet all the necessary criteria.
Business planning
Before starting the process of establishing a new business, it is essential to conduct comprehensive market research and corporate planning. We assist in developing a detailed business plan, analyzing market trends, identifying your target market, and evaluating the competitive landscape.
Choose your legal structure
Hungary provides a range of legal entities that are appropriate for new businesses, such as Joint Enterprise (KKT), Limited Liability Company (Kft.), Limited Partnership (Bt.), Company limited by shares (Rt.), Branch Office, Holding Company, and more. The selection of the entity depends on factors like the size of the business, ownership structure, and liability preferences.
Reserve a company name
Choose an original and easily identifiable name for your business and check its availability in the Commercial Register.
Set up legal address
Having a legal address is an essential aspect of starting a new business. This address serves as the main contact point for government agencies, legal authorities, and important business communications. It is crucial to choose a legal address that meets local regulations and is suitable for your business requirements.
Draft articles of association
Our team of experts helps you create precise and thorough articles of incorporation specifically designed for your selected legal structure. We guarantee that all necessary legal regulations are adhered to and take care of submitting the paperwork on your behalf, thus helping you save time and energy.
Registration
We handle the registration process with the necessary authorities, such as the Hungary Trade and Companies Register and tax authorities, to alleviate the administrative burden. This guarantees that your new business is legally acknowledged and adheres to regulations right from the beginning.
Open a bank account
Open a business bank account in Hungary to make financial transactions easier. Our team of experts will help you with the process.
Setup accounting
When beginning a new business, it is essential to maintain accurate financial documentation. Our team of accounting experts can help establish robust accounting and bookkeeping practices to align with the requirements established by Bosnia.
New business examples
Businesses come in all shapes and sizes, each with unique requirements and effects on the economy. It is important for aspiring entrepreneurs to familiarize themselves with the business landscape in order to recognize potential opportunities. Let’s explore potential new businesses across various sizes:
Small businesses
Embarking on a small business venture can be an exhilarating and daunting experience, with these enterprises playing an important part in supporting local economies. Instances of such businesses include neighborhood coffee shops, online stores selling handmade crafts, pet grooming parlors, and independent web design services.
Medium businesses
Medium-sized businesses such as regional stores, software companies, event planners, and fitness studios have a larger customer base and workforce compared to small businesses, but they are not as large as large corporations.
Large businesses
Big companies such as multinational corporations, airlines, car manufacturers, and retail giants are the main players in their respective fields. They possess extensive resources, large workforces, and significant market power. Frequently, these large businesses have a global presence.
Common mistakes when setting up a new business
New businesses frequently face typical challenges that can be lessened with anticipation and careful planning.
Inaccurate documentation
We make sure that all of your paperwork is thorough, precise, and in accordance with laws, minimizing the chance of bureaucratic problems.
Lack of understanding of local regulations
We offer thorough assistance with “local regulations, taxation, employment laws, and other legal obligations,” making sure that you stay compliant with the law.
Inadequate financial planning
Our team helps you create practical financial projections, plan your budget, and secure financial resources to achieve your company’s objectives.
Insufficient market research
Insufficient knowledge of the local market can impede progress. It is important to thoroughly study the market to recognize both opportunities and potential obstacles.
Inadequate marketing
A large number of companies face challenges because they do not put enough effort into marketing. Focus on building a solid online presence and consider using digital marketing techniques.
Our solutions: Business formation made easy
The team offers realistic and efficient remedies tailored to your requirements due to this reason:
Business formation online
Using Hungary’s online platform, you have the ability to initiate and complete the process of starting a business from anywhere in the world. You can monitor your progress, upload necessary documents, and utilize our services through secure online channels, ensuring a smooth and convenient experience.
Business formation remotely
In Hungary, we manage all the necessary paperwork for you if you prefer a more hands-off approach. Our team of experts takes care of all the official procedures, completes the necessary paperwork, and liaises with the relevant authorities on your behalf to ensure your peace of mind.
Contact us
Don’t pass up the chance to start your business in Hungary. Get in touch with us now for individualized help, whether you like the ease of online registration or the convenience of remote business formation. Our skilled team will support you at each stage, guaranteeing a smooth and prosperous launch of your business. Take advantage of the opportunities that Hungary offers for your entrepreneurial pursuits!