Introducing Hungary – The logical choice for companies
Hungary is a member of the OECD and the NATO, part of the European Union’s internal market and the Schengen Area. Hungary became a full member of the European Union on 1 May 2004.
Ten arguments why Hungary is the suitable investment location in Central Europe:
1. Great location in the heart of Europe
2. Dynamic economic growth
3. Business-friendly environment
4. Membership in the European Union and NATO
5. Long term political stability
6. EU conform investment incentives
7. Highly developed logistical, transport and communications infrastructure
8. Well trained, creative and flexible human capital
9. High productivity / wage ratio
10. Strong presence of foreign and multinational companies
The membership has important impact on the Hungarian economy and provides significant competitive advantages for companies established in the country.
The EU accession of Hungary is a fitting tribute to a successful transition from a centrally planned economy to a robust, fully functioning market economy, deeply integrated into the European economy.
– Membership in a community of stability, democracy, security and prosperity;
– Growing internal market and domestic demand;
– Free movement of labour, goods, services and capital.
Benefits for companies:
– Increased access to EU funds and support for SMEs (small and medium-sized enerprises);
– Transparency of taxation and business accounting rules;
– No customs or quantitative restrictions within the EU;
– Simplified administrative procedure when trading with other EU member states;
– Easy access to a market of 450 million consumers for non-European companies settled in Hungary.
Hungary has allured a seamless flow of foreign capital – well-balanced across the different economic sectors– since the beginning of the transition to democratic market economy at the end of the 1980s. Hungary can boast of having attracted Foreign Direct Investment (FDI) of approximately 80 billion Euros to date.
Questions regarding company formation in Hungary? Contact us!