The insurance market is a profitable area in Hungary and an industry in continuous development. Our Hungarian company formation specialists can inform you and help you open an insurance company in Hungary.
Key factors to consider when you set up an insurance company in Hungary
As an investor intending to open an insurance company in Hungary an important aspect to keep in mind is that along with banking services the insurance businesses are exempted from VAT.
You might also want to know the different types of insurance which can be provided in Hungary. It is a matter of choice whether you would like to provide several types of insurance services or only a selection from the available options. A permanent necessity on the insurance market in Hungary is the vehicle insurances, which are mandatory by law.
The personnel insurance covers employees in case of accident or sickness. The public liability insurance and the business and content insurance are other two very important types of business insurance which provide increased security for companies.
You could also be a provider of personal insurances which comprise services such as home and car insurances or health and life insurances.
It is recommendable to call on professional help for company formation in Hungary in order to establish a safe and successful insurance firm.
How to set up an insurance company in Hungary
The steps to follow if you intend to open an insurance company in Hungary are very easy and do not require much time in order to be completed. You will have to decide what your goals are and consequently choose the ownership structure which best suits your projects. Another step would be to clarify the tax implications for your newly opened company in Hungary. You can consider several domicile options, calculate the needed start-up capital and perform a feasibility study. You might need as well to prepare and submit specific documents required for company registration in Hungary
Please feel free to contact our Hungarian company formation experts in order to help you with the registration procedure and other legal aspects of your investment in Hungary.