TEÁOR’25: latest NACE update introduced in Hungary
NACE, the classification of economic activities in the EU received an update. In Hungarian, it is referred to as TEÁOR’25. See if you need to do anything.
Transparent presentation of the ownership structure of your Hungarian company
Transparency is a key value in the European Union. When you set up your Hungarian company and want to register for mandatory services, you are expected to present the ownership structure of the company in a transparent way.
How to reclaim VAT at your Hungarian company
Your Hungarian company will most likely be a VAT subject, which means you will have to add VAT, or Value Added Tax to your sales. You will also be paying VAT on your purchases, but you will be able to reclaim VAT later.
Set up an EU company as a guest investor
You can become an EU resident and gain visa-free access to the EU if you set up a company in Hungary. Alternatively, if you become a Hungarian resident first, you can more easily set up a company and start trading in the EU. The Hungarian guest investor program offers an excellent opportunity for that.
Choose the right name for your Hungarian business
When you set up your business in Hungary, your company will need a name which clearly identifies it and which distinguishes it from competitors. A Hungarian company name must be unique, correct, and appropriate. What does that mean? Read on to find out.
New immigration law in Hungary – Will it affect your business setup?
Hungary has introduced a new immigration law that came into force on 1 January 2024. It will not affect Hungarian company setup, which will remain available to all nationalities. However, it will affect residency applications for the managing director, the employees, and their family members.
Budget for the payroll costs at your Hungarian company
Before you make your first hire at your Hungarian company, consider the payroll costs you will incur through their employment. Read on to learn about minimum wages, payroll taxes, and company costs.
Invoices in Hungary: How to create and manage invoices?
Your Hungarian company is required to track its incoming and outgoing payments. Your taxes are calculated based on these, and transactions must be recorded. Incoming payments are recorded on invoices in Hungary – read on to learn how that works.
Labor contract at your Hungarian company
When are you planning to make the first hire at your Hungarian company? Your new employee will need a labor contract that defines the employment relationship between the two of you, and protect the rights of both the employer and the employee. Let’s take a closer look at how that works.
11+1 things to consider before starting a business in Hungary
Starting a business in Hungary is very easy. Registration is done in 4-5 business days, and you immediately get an EU VAT number as well, so you can start trading in no time. You only need a bank account to manage your finances, and you are ready to go. But what else to consider before setting up? Here is a list of the most important things – with which our team will be happy to help.