Small business setup in Hungary
Hungary offers a favorable environment for small businesses with its skilled workforce and opportunities for international companies in manufacturing and technology. We specialize in helping start-up and expanding small businesses by providing support with company formation and necessary documentation. Our extensive knowledge of the regional market allows us to assist you in launching your small enterprise in Hungary. Let’s talk about the benefits of starting a small business in Hungary and how our specialized solutions can help facilitate your success.
Formalities and procedure
Registering a small business in Hungary requires going through a series of steps that can be finalized within a short period of time.
Choose a business name
The name of the business must be original and not already taken. To verify if a name is available, you can visit the Hungary Trade Registry’s website.
Select legal entity type
The success of your small business depends on choosing the right legal structure. Our expert guidance on Joint Enterprise (KKT), Limited Liability Company (Kft.), Limited Partnership (Bt.), Company limited by shares (Rt.), Branch Office, Holding Company can help you make an informed decision that meets your specific needs and future goals.
Set up legal address
It is crucial to have a legal address when launching a business, as it acts as the primary point of contact for government agencies, legal authorities, and important business communication. Selecting a legal address that complies with local regulations and aligns with your business needs is of utmost importance.
Get the necessary paperwork ready
Our team of professionals will assist you in developing accurate and comprehensive documentation tailored to your company’s specific structure and objectives. We ensure compliance with all legal regulations and handle the filing procedure on your behalf.
Open a bank account
In order to establish a business in Hungary, having a corporate bank account is necessary. We will support you every step of the way to ensure you follow the regulations and guide you in opening a bank account with a respected financial institution in Hungary for your small business activities.
Company registration
We take care of registering your small business with authorities such as the Trade and Companies Register and tax authorities, so you don’t have to worry about the administrative tasks. This ensures that your small business is legally recognized and compliant from the beginning.
Setup accounting
In order to effectively start a small business, it is crucial to keep precise financial records. Our accounting team can assist in implementing efficient accounting and bookkeeping procedures that adhere to Hungary’s laws.
Small business examples
Small businesses operate in various industries and sectors, each having unique requirements. Here are a few examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Hungary
Hungary is an attractive choice for starting small businesses due to its numerous benefits:
Strategic location
Hungary has a talented labor force and attractive prospects for global companies in the fields of manufacturing and technology. Its advantageous position in Central Europe, cost-effectiveness, and government support for overseas investments make Hungary a desirable destination for businesses seeking to grow their presence in the area.
Favorable tax regime
Hungary has a uniform corporate income tax rate of 9% for companies with annual revenue below a certain limit and 15% for those above. In addition, Hungary provides different incentives such as deductions for research and development. Hungary is a member of the European Union.
Banking
Hungary’s financial system provides stability and a range of financial services, opening up possibilities for investment and banking operations in a central European setting.
Our small business setup solutions
We understand the value of your time and resources. That’s why we offer two convenient choices to make the company formation process easier.
Business formation online
By utilizing the online platform offered by Hungary, individuals are able to start and finalise the process of setting up a business from any location around the globe. The option to track progress, upload necessary paperwork, and access our services via secure digital platforms guarantees a seamless and user-friendly experience.
Business formation remotely
If you would rather not be involved in the paperwork process, our professionals can handle everything for you. They will manage all the necessary paperwork and communicate with the appropriate authorities to ensure your peace of mind.
Contact us today and launch your small business success
Contact us today to schedule a consultation and begin pursuing your business goals. Let’s embark on this journey together.