One of the winners of this „COVID-19-situation” are the IT companies and the connected services, industries. We can realize all over the world, that due to the increased demand, the revenue of such IT companies is fastly growing. And we can notice this looking at the increased demand for the registration of such companies. During the last weeks, we in LAVECO Ltd, have been the witnesses of such increased demand for the company registration in Hungary.

Why the interested businessmen target Hungary for company formation?

There are 4 simple reasons for Hungarian companies:

1. For the registration of a company in Hungary, the owners should not come to Budapest. The documents can by undersigned abroad. The Hungarian lawyer can identify the foreign Owners and Directors by Skype.
2. The Hungarian bank account for the newly formed Hungarian companies can be opened also, as we provide company directors for such companies. By the Hungarian legislation, these directors can not be pure nominees, but in the practice, it works very well, and the Hungarian bank account can be managed through this director effectively from abroad.
3. The bank account in Hungary can be opened in USD also. As the majority of international finance, trade, and service transactions are calculated in USD, in order to avoid the costs of exchange, the bank account opening in Hungary in USD is one of the key elements of the cross board operations.
4. 9% profit tax and +2% municipality tax is very attractive for foreign investors. Hungary is not a zero-tax-haven, but the approximate 10% taxation level provides a convenient tax climate for many businessmen all over the world.

+ What is not included in the above description is the fact that a Hungarian company is a convenient and trustworthy vehicle for the implementation of international transactions. Hungary is not an offshore jurisdiction, and a newly registered Hungarian company is an acceptable partner for the IT industry and multinationals like Google, Amazon, eBay, Facebook, contrary to the traditional offshore companies, like BVI, Belize, Seychelles, etc.

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