Hungary
Widely considered to be the gateway to central and south–eastern Europe, Hungary makes an attractive market for foreign investment. Hungary’s main investors are the Cayman Islands, the Netherlands, Ireland, Germany, USA, Canada, and Austria – and investments are in financial services, manufacturing, trade, real estate, and scientific / technical activities.
Tts Its labour force is highly educated and skilled with a particular emphasis on engineering, medicine and economics. As of 2020, Hungary has the highest literacy rate in the region. And labour is also inexpensive, allowing the country to integrate into the European production chain and be considered an efficient production base.
Investors should be aware that Hungary has instituted two separate screenings for FDI, with the intention of protecting Hungarian industries impacted by COVID-19. The first involves sectors of strategic importance, like defence, cryptography, utilities, and the financial industry. The second screening has a much wider scope, covering most manufacturing activities, as well as hospitality, energy and construction.
Also, the effects of the Global Financial Crisis are still affecting Hungary. Low investment in innovation and R&D, a high level of energy dependence, and the fragile banking sector (both public and private) put Hungary at risk. There are substantial debts within the country, with inflation making foreign currency repayments problematic for both the banks and the populace. All of which affect it’s Doing Business ranking (52/190).
AUXADI can become your ideal investment partner in Hungary. From our office, located in Hungary, we offer a One Stop Shop value added Outsourcing services in the areas of Accounting and Reporting, Tax Compliance, Payroll Management and Representation services, among others.
Hungary
Widely considered to be the gateway to central and south–eastern Europe, Hungary makes an attractive market for foreign investment. Hungary’s main investors are the Cayman Islands, the Netherlands, Ireland, Germany, USA, Canada, and Austria – and investments are in financial services, manufacturing, trade, real estate, and scientific / technical activities.
Tts Its labour force is highly educated and skilled with a particular emphasis on engineering, medicine and economics. As of 2020, Hungary has the highest literacy rate in the region. And labour is also inexpensive, allowing the country to integrate into the European production chain and be considered an efficient production base.
Investors should be aware that Hungary has instituted two separate screenings for FDI, with the intention of protecting Hungarian industries impacted by COVID-19. The first involves sectors of strategic importance, like defence, cryptography, utilities, and the financial industry. The second screening has a much wider scope, covering most manufacturing activities, as well as hospitality, energy and construction.
Also, the effects of the Global Financial Crisis are still affecting Hungary. Low investment in innovation and R&D, a high level of energy dependence, and the fragile banking sector (both public and private) put Hungary at risk. There are substantial debts within the country, with inflation making foreign currency repayments problematic for both the banks and the populace. All of which affect it’s Doing Business ranking (52/190).
AUXADI can become your ideal investment partner in Hungary. From our office, located in Hungary, we offer a One Stop Shop value added Outsourcing services in the areas of Accounting and Reporting, Tax Compliance, Payroll Management and Representation services, among others.
International Accounting, Tax and Payroll in 50 countries
Corporations
We can help you with your international expansion and we serve more than 600 clients across many different sections. We become an extension of your finance departments abroad and you can access the accounting information of all your international subsidiaries through a single portal, customised to meet your needs.
Funds
With nearly $7 billion of assets under management, we can take of the corporate management and SPV administration of your investment structures. Whether you’re creating a holding structure in Luxembourg or setting up a SPV in Europe and Latin America, we offer accounting, reporting, tax compliance and directorship solutions to help make your life easier.
Our services
Accounting
We provide corporate accounting administration for global corporations and investments with our unique MultiCountry IT platform.
Tax
We can help sort your international taxes. Our expert tax teams know all the details and will ensure you remain tax compliant.
Payroll
Our international payroll services remove the complexity but keep the confidentiality, using our unique IT system.
Cash management
Cash management is essential for every business – but monitoring and managing your cash flows can be time-consuming. Auxadi can help.
Consolidation and reporting
Our unique MultiCountry IT platform gathers the data from all your international entities, making consolidation and reporting stress-free.
Transfer pricing
We’re on hand to help with your transfer pricing – rely on our local knowledge and expertise.
Monitor and manage your international subsidiaries with our MultiCountry online platform
Access our online platform that provides you with a global and harmonized view of the accounting of your international subsidiaries, with drill down functionality to check support documentation, such as: invoices, outstanding creditors, approve payment orders, manage the payroll processing cycle and so much more. Request a demo to see how our technology can help you.
Get access to Auxadi corporate materials and technical guides to know more about us. You can see all our materials here.
Meet the team
Rima Yousfan
Senior VP, Head of International Corporations