Starting a Business in Hungary

Hungary has a long history of entrepreneurship and innovation. Since then, Hungarian entrepreneurs have been successful at creating and promoting innovative products, services, and technologies around the world. Now, Hungary is becoming a sought-after location for setting up new businesses due to its strategic location between Europe's largest markets and its strong innovation environment.

Business environment

Hungary has a strong economy, as it is a member of the European Union and its currency is the forint. The country also participates in the Schengen Area, which allows free movement between most EU countries without border controls.

Hungary has the highest level of economic freedom among all members of the OECD (Organisation for Economic Co-operation and Development), according to their 2018 report on global competitiveness rankings (based on 2017 data). Additionally, Hungary ranks highly in terms of financial market development and business sophistication--two factors that contribute greatly toward an efficient environment for doing business.

Corruption levels are low compared with other Eastern European countries; however, there's still room for improvement: Transparency International ranked Hungary 54th out of 180 countries on their Corruption Perception Index 2017

Company registration

If you are planning to register a company in Hungary, the process is relatively straightforward. You need to register your company in the commercial registry and provide documents that prove your identity and residence. You will also have to pay a registration fee which varies depending on what kind of company it is (a limited liability company or an unlimited liability partnership).

Registered representatives must be authorized before they can represent your business in other countries or sign contracts on behalf of it.

Intellectual property and patents

Intellectual property refers to the legal rights you have over your ideas and creations.

A patent is a type of intellectual property that protects inventions, such as new machines or processes. If you have an invention, it's important that you file for a patent so that no one else can copy or use your idea without permission from you or your company.

Trademarks are another type of intellectual property; they protect words or symbols used in business to identify products and services (for example: Apple's logo). Trademarks can also be used by individuals who want their name associated with their work - for example: Taylor Swift has trademarked her name so no one else can use it for commercial purposes without her permission!

Copyright protects original works like books and music compositions; this means that anyone who wants anyone else using these works without permission could face legal repercussions if caught doing so!

Takeaway:

The Hungarian government has made it easier for foreign investors to start businesses in Hungary.

The process of registering a business has been simplified, and there are no restrictions on foreign ownership of companies or land.

There are no restrictions on the amount of capital you can bring into Hungary when starting a business, but you must declare this to customs officials at the border if it exceeds HUF5 million (USD 18,000).

Conclusion

We hope this guide has helped you get started with your business in Hungary. The country has so much to offer entrepreneurs, from its skilled workforce and low-cost living costs to its proximity to European markets. The next step is for you to take the plunge!