Gov't Drafts Measures to Make Establishing Companies Easier for Foreigners
The government is drafting measures that will make it easier for foreign investors, including ones from outside of the European Union, to set up companies in Hungary, the National Economy Ministry said on Wednesday, according to a report by state news wire MTI.
The measures include the introduction of English language template contracts for establishing companies, the publication of consolidated, English language information on foreign documents required for the process, and the chance to pick euros or dollars, in addition to forints, as the currency for declaring initial capital.
The changes aim to reduce red tape for foreign investors and spur economic growth.
The ministry noted that a government-mandated survey had shown that foreign investors couldn't avail fully of streamlined procedures for setting up companies mainly because of the language barrier.
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