Hungary

Topics: Slovakia, International trade, Austria Pages: 1 (337 words) Published: February 25, 2015

About Hungary:
Hungary is a landlocked country in central Europe, which borders with no fewer than seven countries: Slovakia, Ukraine, Romania, Serbia, Croatia, Slovenia and Austria. The country is mostly flat, with low mountains in the north.  The most important sectors of Hungary’s economy in 2012 were industry (26.8%), wholesale and retail trade, transport, accommodation and food services (17.6 %) and public administration, defence, education, human health and social work activities (17.3 %). Hungary’s main export partners are Germany, Slovakia and Romania while its main import partners are Germany, Russia and China. Hungary has entered the ranks of the developed countries, the industrial base better. Hungary accordance with national conditions, development and production of some of their expertise and knowledge-intensive products, such as computers, communications equipment, instruments, chemicals and medicine. Hungary to take various measures to improve the investment environment, the CEE region is one of the most attractive foreign investment per capita countries. Hungary's main industries are mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), and motor vehicles. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment worth more than $70 billion.

Legal requirements:
In Hungary there are companies without legal personality, as well as companies with legal personality. Companies may also operate in not-for-profit form. Companies may be set up by foreign and domestic natural and legal persons, and by companies without legal personality. To establish a company, with the exception of limited liability companies and joint stock companies, at least two members are required.

Exporting & Importing goods:
As a business registered in the EU, you have the right to export and import goods freely in the EU. This means that governments may not...
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