Hungarian business environment is recommended for the
incorporation of a company with business activities in the field of
information technology (IT), as this market is one of the most representatives in the Central Europe. Foreign investors should also know that
Hungary is a member state of the European Union (EU) and, as such, the legislation applicable to
companies here is following EU’s directives.
An
IT company in Hungary is incorporated following specific steps, which are compulsory for all
types of business registered here. However, it is important to know that this
type of business may need to o
btain special permits and licenses issued for the
IT field;
our team of Hungarian company incorporation representatives can provide assistance on this matter.
Open a company in Hungary
It is crucial to
choose a legal entity which will best represent the interests of the investors. There are several
legal entities which are available for foreign investors and it is important to know that the local legislation prescribes only few restrictions to foreigners performing business activities on the
Hungarian market.
Investors can choose from the following:
• general partnership;
• limited partnership;
• joint stock company.
After the investor decided what
legal entity is better suited for his or her activities, it is necessary to
draft the statutory documents of the future
company. After this procedure is completed, the next step is to
open a corporate bank account, in which the minimum share capital will be deposited, in accordance with the provisions stipulated in the statutory documents;
our team of Hungarian company formation consultants can provide more details on the provisions of the documents.
Please mind that based on the legal entity that you will select for your Hungarian business, the accounting procedures may vary. This can happen because the law regulates different accounting obligations in accordance with the company type, the size of the company or its annual income.
Our accountants in Hungary can explain what are the main rules in this sense and what will the obligations of your company will be, once you will start the business activity.
IT industry in Hungary
When
investing in Hungary, investors should know that the local economy is a part of the
EU’s Digital Single Market, a project which aims at the development of the local economy through the
use of digital services and products.
The local market is very interested in the IT services and products, as more than 95% of the Hungarian households benefit from fixed broadband services.