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Investment in Hungary

Investment in Hungary. Setting up a company in Hungary follows the same legal system that is currently used in EU countries. Foreign investors can invest in 4 different types of enterprises: KKT General Partnership BT Limited Partnership RT Joint Stock Company KFT Limited Company.

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Investment in Hungary

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  1. Investment in Hungary

  2. Setting up a company in Hungary follows the same legal system that is currently used in EU countries.

  3. Foreign investors can invest in • 4 different types of enterprises: • KKT General Partnership • BT Limited Partnership • RT Joint Stock Company • KFT Limited Company

  4. KKT A General PartnershipAll the partners bear unlimited liability in all that concerns joint undertakings. BT A Limited PartnershipAt least one of the general partners has unlimited liability for the joint obligation, the other partners bear only limited liability (a partnership is not allowed to be a partner with unlimited liability in any other partnership). RT A Joint Stock CompanyA Joint Stock Company may be private or public and is traded on the Stock Exchange. It may have a single shareholder. Its board of directors must have at least 3 members but no more than 11. The shareholders in a private joint stock company may appoint a CEO instead of a board of directors. KFT A Limited CompanyAs distinct from an RT company, a company of the KFT category may not raise capital from the public. The shareholders have limited liability. The minimum equity must be in excess of HUF 3 million.

  5. Setting up a business in Hungary As a result of the global economic crisis, Hungary's economy has been in a recession. The government secured an International Monetary Fund loan in November 2008 to prevent speculators making a run on the Forint, the Hungarian currency.

  6. Company formation Step One: Hire a lawyer to represent the company and prepare the legal documents. Step Two: Pay at least 50 % of the subscribed capital into the company's bank account. Step Three: Register with the Registration Court and obtain a certificate. Step Four: Register for social security.

  7. When you register a company in Hungary, • you should provide the following details: • evidence of your trade licence • your documents of incorporation • the company name and the address of its registered office(s) • the nature of the company's activities • form of incorporation • approval for foreign workers

  8. You must also register with the following associations : • the Central Office of Statistics • National Income Tax Authority • Regional Income Tax Authority • the (Regional) Court of Registration • the Institute of National Insurance Your registered company in Hungary immediately becomes a member of the local Chamber of Commerce.

  9. Permits and licences According to current laws, no special permit is required to establish a business. But there are permits for specific work, especially in construction and licences for trading.

  10. Hungary is a land of opportunities for business people Investors are welcome

  11. Income Taxes and Tax Laws • Hungary operates a sliding scale taxation system (the higher the income, the higher the rate of tax payable). • The tax rates for an individual ranged from 18% to 36%. There are reduced tax rates for certain income earners. • Corporate tax in Hungary is 16%. • There is an additional 4% solidarity tax.Corporate tax for incomes up to HUF 50 million is 10%. • The tax year in Hungary is the calendar year.

  12. Thank you for your attention!On behalf of the Hungarian project team:Bor DánielFülöp BrigittaKajdi AdriánSzóllás GlóriaPápai Gazdasági Szakképző Iskola2010

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