American starting a business in Hungary?

Hi,

Tax laws and administration requirements are crazy, you'll need an accountant first. She should be able to advise you on the form of company to found ("BT", "kft", etc.) Some of your sources could be quoting the amount of capital you must initially invest to start a certain type of company, a much smaller sum is the usual cost including lawyers and accountants fees, and even smaller is the amount you have to pay if you do all your own lawyering and accounting. So there's no single price tag.
Where would you like to start the hostel BTW?

Thanks for your reply! I actually found a recent article regarding sole proprietorship, so if I'm reading it correctly I shouldn't need to go through the steps of incorporation. But I would probably want to have a lawyer or accountant to help me in the initial navigation.

http://www.realdeal.hu/20091110/parliam … rietorship

I'm hoping to get in the 9th district somewhere on Raday or Lonyay utca, no further south than Kinizsi utca. But I'm open to 6, 7 or 8. However, I'm not very familiar with the 8th district so that might be my last choice.

Please note the "egyeni vallalkozo" has unlimited personal liability, and there is no personal bankrupcy law in Hungary, so this could get really nasty. And I am not a lawyer or accountant and this is not legal or financial advice :-)

Are you planning to rent or buy a place?