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.
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.
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.
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.
In Hungary, every company is required to have an accountant to remain compliant with regulations. But what exactly can and cannot an accountant do? Should you get one on payroll or can you outsource these tasks? What to watch out for? Read on to find out.
In Hungary, data of any company are registered with the Company Registry, and it is the owner’s or the executive’s responsibility to keep those data up to date. Some changes can be simply reported, but changes to core data require a more complex procedure called company modification. Learn what these are, and how to handle …
Every Hungarian company must have a local bank account, which you can only open in person. In a previous article, we explained what Hungarian banks expect from foreigners and how you can prepare for your bank appointment and the KYC procedure. This time, we focus on the arrangements that should make your bank account opening …
Bank account opening: planning your trip to Hungary Read More »
If you are setting up a company in Hungary, you will need a corporate bank account. Over the last few years, bank policies have changed, so bank account opening in Hungary for your company as a foreigner has various aspects you should be aware of if you want the process to be smooth and swift. …
Corporate bank account opening as a foreigner in Hungary Read More »
In the 21st century, you rightly expect administration to be available online as well as in person. And it is! Hungary has customer portals operated by the government that give you access to electronic administration – both as an individual and as the manager of a Hungarian company. Learn about them with us.
When registering your Hungarian company, you should also indicate its main activity. You do not simply state what you are planning to do: there is an official list, accepted by all EU countries, and you select the item that suits your planned activity the most. Each activity has a numeric ID, which is called their …
Your Hungarian company’s activity and your NACE code Read More »
