Hello all,
I'm a new member but have been lurking for a while ...
I live in Switzerland where I have a corporation. I source different items for clients in Asia and ship them. Because of the super high VAT, the net cost of some items is way cheaper in Hungary than anywhere else.
I am looking to incorporate in Hungary and start shipping to just one of my larger customers directly from Hungary as a start. Our gross sales for this company will be ~€180,000/annum (~58.5mil Forint).
I know someone personally who has been living in Hungary for twenty years and speaks the language. She is highly intelligent and trustworthy, and most important, an empty-nester, happy for the opportunity to work part time.
Although I have read many discouraging posts regarding doing Business in Hungary, I think in my case it makes sense, since we are taking advantage of the high VAT.
Links to companies offering to set the corporations up have prices starting at ~€1200+VAT. If possible, I would like to have her set the corporation up herself. Can anyone provide links to clear information and instructions (Hungarian is fine)?
I believe an accountant is mandatory. Can anyone recommend a reasonably priced one in Budapest?
Must I have employees? Can I make her a partner so that her compensation is in the form of dividends? Since it is only one customer for now, the risk is minimal for me and it would seem that avoiding payrolls would avoid a great deal of headaches and paperwork. She will not have contact with the customer, . Besides, I really do trust her.
Can anyone give me pointers on pitfalls that would preclude us reclaiming the VAT.
And of course, make me aware of my ignorance so I do this right :-)