Company foundation, Human capital

Company foundation

  1.        DRAFTING OF THE DOCUMENTS

Necessary for company formation by an attorney (the use of a legal representative and the countersigning of certain documents by an attorney is mandatory in company proceedings)

  1.        OPENING THE BANK ACCOUNT
  2.        SUBMITTING OF THE APPLICATION

For registration to the Hungarian Court of Registry

The company is assigned a tax number by the tax administration. The Court of Registry decides on the registration of the company within one business day after the issuance of the tax number in case of simplified proceedings and within 15 business days after the receipt of the application in case of normal company registration proceedings. Attention must be paid to the fact, however, that in case the tax administration does not notify the Court of Registry of the tax number within one business day, then the proceedings have to be suspended, and therefore, the company registration proceedings may require more time.

REGISTRATION
Registration with the tax administration and the statistical office

Human capital

The Hungarian labour force is well qualified and cost effective, which increases the country’s international competitiveness. The country has several famous and practice-oriented universities, each playing a notable role in the education of the workforce. A large number of high quality research institutions are testament to Hungary’s traditional strengths in science and technology. The 2015 statutory gross minimum wage in Hungary is HUF 105,000 (cca. EUR 340) per month. The average earnings was around HUF 237,736 (cca. EUR 770) in 2014.

Four universities in Hungary appear in the respected QS World University Rankings (which claim to be the most widely read university comparison of the world’s top 800 universities) for 2014/15

 

Source: HIPA