Hungarian business environment is recommended for the incorporation of a company with business activities in the field of information technology (IT), as this market is one of the most representatives in the Central Europe. Foreign investors should also know that Hungary is a member state of the European Union (EU) and, as such, the legislation applicable to companies here is following EU’s directives.
An IT company in Hungary is incorporated following specific steps, which are compulsory for all types of business registered here. However, it is important to know that this type of business may need to obtain special permits and licenses issued for the IT field; our team of Hungarian company incorporation representatives can provide assistance on this matter.
Open a company in Hungary
It is crucial to choose a legal entity which will best represent the interests of the investors. There are several legal entities which are available for foreign investors and it is important to know that the local legislation prescribes only few restrictions to foreigners performing business activities on the Hungarian market.
Investors can choose from the following:
• private limited liability company;
• general partnership;
• limited partnership;
• joint stock company.
After the investor decided what legal entity is better suited for his or her activities, it is necessary to draft the statutory documents of the future company. After this procedure is completed, the next step is to open a corporate bank account, in which the minimum share capital will be deposited, in accordance with the provisions stipulated in the statutory documents; our team of Hungarian company formation consultants can provide more details on the provisions of the documents.
Please mind that based on the legal entity that you will select for your Hungarian business, the accounting procedures may vary. This can happen because the law regulates different accounting obligations in accordance with the company type, the size of the company or its annual income.
Our accountants in Hungary can explain what are the main rules in this sense and what will the obligations of your company will be, once you will start the business activity.
IT industry in Hungary
When investing in Hungary, investors should know that the local economy is a part of the EU’s Digital Single Market, a project which aims at the development of the local economy through the use of digital services and products.
The local market is very interested in the IT services and products, as more than 95% of the Hungarian households benefit from fixed broadband services.
Investors interested in receiving more details on the processes involved when opening an IT company in Hungary can address to our team of Hungarian company incorporation agents for assistance.