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Why Start a Business in Hungary

Why Start a Business in Hungary

Updated on Wednesday 24th June 2015

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A central location for business

 
Hungary is a Central European country that shares borders with Austria, Croatia, Romania, Serbia, Slovakia, Slovenia and Ukraine. Its geographical position is an important advantage: the country has good connections with Central Europe and can access a market consisting of more than 500 million people. Hungary has good transportation networks: an extensive railway network, good waterway connections and a number of international airports. Hungary is a member of the European Union since 2004.
 

Reasons to invest in Hungary

 
The Hungarian workforce is highly educated, flexible, creative and bilingual. Hungarian employees are valuable for foreign investors who want to open businesses that operate in logistics, services and manufacturing. The balance between the labor costs in Hungary and the quality of the provided services is advantageous for investors.
 
The tax environment is competitive and supportive. Foreign investors in Hungary can benefit from refundable and non-refundable incentives. The Hungarian government offers special support for the research and development (R&D) sector. Our Hungarian law firm can provide in depth information about taxes in Hungary and special cash subsidies for companies.
 
The labor costs are lower compared to other European countries and businesses can be set up in just a few days, depending on the type of company. One of the most developed economic sectors in Hungary is the industrial sector: having more than 200 very well developed industrial sites around the country. A number of leading technology and logistical parks are available for business investors who want to invest in industry or manufacture in Hungary.
 

Business opportunities in Hungary

 
The types of companies that can be set up in Hungary are: the limited liability company, the joint stock company, the limited shares company, the limited partnership and the unlimited partnership. Each company has its own particularities and different advantages for investors. Foreign investors can also open branches or subsidiaries in Hungary. Our law firm in Hungary can provide detailed information about each legal entity in Hungary.
 
One of the most developed business sectors in Hungary is the automotive sector, which generates approximately 21% of all the country’s exports. More than 600 companies and 100,000 employees work in this business sector in Hungary. The electronics industry is another very well developed sector and Hungary is an important electronic producer in the Central and Eastern Europe region. The information and communication technology sector and the food industry are also very well developed.
 
If you want to invest in Hungary, please contact our law firm. We can provide specialized legal services and consultancy for foreign investors starting their business in this country.
 
 

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