Thinking about expanding your business in Europe? The European countries offer numerous opportunities and favourable business environment for entrepreneurs who want to trade freely within the European Union.
Maybe the most important benefit of the European company formation is the unlimited access to the European common market, as if you own a European company you are free to do business within the European Union.
The company formation in Europe can be also the solution for Brexit, as the transition period has ended only four weeks ago at the end of 2020, but it has already some effects on the UK registered companies, especially the ones are trading in Europe. So that already many UK company decided to start a European company.
Doing business in Europe
If you are planning to open a European company, it also can be a supporting factor, that in the recent years tax burdens of companies have been significantly lowered in the European Union. Especially in Hungary, as tax liabilities for a Hungarian company are quite low and the corporate tax rate is currently the lowest in Hungary within the European Union, as it is only 9%.
“It is also possible to set up the Hungarian company without any travelling, as the company formation in Hungary is very easy and fast, and can be done even remotely.” says Melinda Gyori Dr., legal consultant.
In this case you can take advantage of the low corporate tax, as the 9% corporate tax makes Hungary quite attractive for those who are interested in doing business in Europe.
Are you into travelling?
Are you located outside the European Union but love to travel in Europe? There is a never ending list of all the exciting destinations and activities you might want to enjoy in Europe. Now why not opting for a second passport or an EU residence permit?
Maybe you didn’t know before that you have the opportunity to obtain a European passport, if you set up a Hungarian company or buy a property in Hungary.
The Hungarian passport ranks as tenth in terms of travel freedom, and also provides a free way to travel to the EU. The Hungarian EU passport is burgundy red with the Hungarian coat of arms in the centre of the front cover. The new biometric Hungarian passport has the standard biometric symbol at the bottom. Some more unique features of the passport are that the visa pages have the musical notes of the Szozat (it’s the second national anthem of Hungary) visible in UV light and the identity information page has the title and the first eight lines of the national anthem in the author’s handwriting embossed.
So in the light of the above-mentioned features of Hungary, who wouldn’t see this country an attractive place either for company formation or buying real estate?
VISA free travel to several countries
Having a European business or a property located in Hungary and travelling as much as you want might be a lifestyle that you have long dreamt about.
If you own a European company in Hungary or purchase a property in the heart of the European Union in Hungary, you can get a permanent residency in Europe and a 2nd European passport and travel freely in Hungary and Europe.
As once you run a business or own a property in Hungary, you can apply for a permanent residence permit. And this way, you don’t need a visa to those countries where you were required to before.
Besides being an ideal location for a 2nd passport, Hungary is a popular tourist destination. As an independent country, Hungary is one of the oldest in Europe, the so-called Hungarian state foundation dates back to 1001. It boasts a rich cultural heritage from the past together with many special activities for foreigners such as visiting unique wine cellars, rejuvenating in a thermal spring or enjoying the atmosphere of farmer markets.