Administration Archives - Company Formation

Retention periods – Storing documents at your Hungarian company

In relation to Hungarian business operation, the retention period of documents is the time for which you are obligated to keep documents accessible and safe. The retention period of different documents varies, but it is always mandated by law. If multiple regulations mention one type of document, always the longer period prevails. Regulations apply to both electronic and physical documents.

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How to finish your business operation in Hungary – All about liquidation

Administration, Business, Company Formation

What to do when your Hungarian business operation has reached its end? You can sell your company if you find the right buyer, but normally, it is best to liquidate it. If it has no issues, that can simply be done by your accountant, although it takes some time. You could also simply abandon it, but that poses several risks.

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Subsidiary, branch office, representative office in Hungary – which one is right for your business?

Administration, Business, Company Formation

If you already operate a business abroad and are planning to expand into Hungary, you have several options available. The most common solution is to establish a Hungarian limited liability company (LLC), but depending on your goals, a branch office or a commercial representative office may also be worth considering.

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Maternity leave for your Hungarian employees

Administration

Maternity leave is a form of unpaid leave in Hungary during which mothers can apply for allowances from the state. New mothers can spend at least 6 weeks with their babies, during which you cannot terminate their employment relationship. This is true even for third-country national employees, and it is not supposed to affect existing work permits either.

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Invoices and receipts at your Hungarian company

Administration

Is your Hungarian company issuing receipts or invoices? If you issue receipts, get ready for the introduction of the electronic cash register which allows better reporting towards the Tax Authority and offers better customer experience.

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Online administration for Hungarian companies

Administration, Business, Company Formation

Once you set up your Hungarian company, you will be able to take care of most administrative tasks online. Hungarian administration is highly digitalized, making business operation more transparent. Read on to get familiar with the tools for online administration in Hungary.

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Accountancy vs. payroll services for your Hungarian company

Administration

Accountancy and payroll services are similar in the sense that both are related to finances at your Hungarian company. Sometimes both services are provided by the same provider too. However, they are distinct functions, requiring special expertise.

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Registered seat and delivery agent in Hungary

Administration, Business, Company Formation

If the registered seat of your Hungarian business is with a seat provider, there is a chance they are also acting as a delivery agent for you. Learn what the difference is and what to expect from each.

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TEÁOR'25 is the NACE 2025 update in Hungary

TEÁOR’25: latest NACE update introduced in Hungary

Administration, Company Formation

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.

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Transparent presentation of the ownership structure of your Hungarian company

Administration, Company Formation

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.

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