Explore Hungary, a nation renowned for its rich cultural heritage and strategic location in Central Europe. This country blends historical charm with modern innovation, making it an appealing choice for businesses looking to expand into the European market.
Hungary boasts a vibrant economy, with strengths in manufacturing, services, and technology. Its capital, Budapest, is a hub for startups and innovation, underpinned by a high-quality infrastructure that supports business growth.
9.71 million
Population
Hungarian Forint (HUF)
Currency
181.8 billion
Global Domestic Product
With its EU membership, favorable corporate tax rates, and skilled, multilingual workforce, Hungary offers a competitive edge for companies aiming at European markets. Its strategic location provides easy access to other EU countries, making it a logistical stronghold for international trade.
Hungary's labor market is characterized by a highly skilled workforce, especially in engineering, IT, and pharmaceuticals. The government offers incentives for businesses, including tax breaks and subsidies, particularly in technology and manufacturing sectors.
We facilitate seamless business expansion into Hungary through comprehensive EOR services, including employee onboarding, payroll, compliance with local employment laws, tax administration, and visa applications for expatriates.
In Hungary, employees are entitled to benefits such as social security, which covers health insurance, pension contributions, and unemployment insurance. Employers often supplement these with private health insurance and pension plans.
Employees in Hungary are entitled to a minimum of 20 working days of paid annual leave, with additional days for those over a certain age or with children.
Workers are entitled to sick pay, which is covered by social security for up to 15 days, thereafter employers may provide additional sick leave benefits.
Many companies offer extra benefits, including meal vouchers, transportation allowances, and flexible working arrangements, to attract and retain top talent.
The standard workweek is 40 hours, with regulations ensuring at least 11 hours of rest between working days and a minimum 20-minute break for every 6 hours of work.
| Taxable Income | Tax Rate |
|---|---|
| 0+ | 15% |
*All figures based on local currency
