The European Union

Europe is one of the safest continentals in the world to do business.

By means of a huge amount of domestic demand, high technologies, strategic location, and well-educated workforce it is undoubtedly that Europe sustains to attract foreign investors.

European Union is the economic and political union of 28 European Countries, which have a well-integrated economic system and regulations.

We would like to draw your attention to how to start a business in Europe. Sometimes it is confusing which country is the best option to start in the EU. For sure a good choice is Hungary.

Estonia is one of the pioneer countries in the world for technological development in the governmental sectors. However, Hungary has also a good infrastructure to let the business owners make many transactions online. You can check our article on Company Formation in Estonia.

Today, it is possible to incorporate it in Hungary remotely. Our professional team can handle court registration and other applications as the tax office, social security, and chamber commerce with Power of Attorney(PoA). It is quite easy to give us PoA. When we agree upon our service agreement, we send our PoA, which is prepared by our lawyers.

EASY TO OPEN BANK ACCOUNT

The tricky step of doing business in Europe is the bank account opening. In many countries as Malta, Estonia, and some other countries, request for the bank account can be rejected even you have a registered company in these countries.

Every Company, settled in Hungary is obligated to open a bank account within 8 days from the incorporation.

To open the bank account, every shareholder must be in person at the bank. Our team assists you with all post-incorporation issues after the incorporation to open the bank account.

Having a bank account in Hungary makes your company open to the world’s most used payment systems like Paypal, Transferwise, and many others.

THE LOWEST CORPORATE TAX IN THE EUROPEAN UNION

Hungary has many tax benefits for business owners.

Hungary has the lowest corporate tax in the EU which is just 9%.

To understand how this amount has an advantage when we compare the other European Countries:

    Germany: 30%

    Switzerland: 18%

    Poland: 19%

    Bulgaria: 10% (Not the part of the Schengen Area)

    Czech Republic: 19%

    Estonia: 20%

    Turkey: 22%

However, Hungary has also one of the highest value-added taxes (VAT), which is up to 27%. But If you are an IT business owner or any business, which has clients outside of Hungary, then you do not have to pay VAT at all.

Export services are exempted from the VAT in Hungary.

EU BENEFITS

When our team incorporates your company in Hungary, you will obtain EU Company ID and number as well.

It means your company can make an offer for many governments and EU tenders.

In addition, if you have products, then you will have the right to add on your products made in the EU under some conditions.

The companies in the EU have many benefits by means of several famous trade deals between the EU and other countries. (For example, some of the last ones are Mexico and Japan Free Trade Deal between the EU)

Company Formation in Europe can change your company image.

THE GATE OF THE 280 MILLION EUROPEAN MARKET

European Union is the richest market in the world. When you have an EU company, there will be no difference between the company in Germany and Hungary. Please check also our article on Company Formation in Germany.

Plus, your company will have much less tax wealth. (Lovest corporate tax 9%)

LESS INCOPORATION COST

Incorporate and post incorporate transactions are much cheaper than other West Europe Countries.

By means of the low costs, your company will have competitive advantages.

CONCLUSION

Hungary is not a well-known place for IT Business YET. But if you make mostly export services with IT or any other sector, then Hungary is one of the best options for your business with all EU and tax benefits.