Business Opportunities in Budapest

sherif1986 · 2013-01-15T11:00:29+01:00

I have to intention to establish new Business or being partner in already established Business in Budapest. I don't know the business types with the good potential since i am very new in Hungary. Can any of you guide me to ideas of investment or put me in touch with trusted people who would like to have partners. I prefer the kind which do not require my physical presence all z year around if it possible as i have obligations which requires my physical presence in my home country, Egypt. The budget that i am considering for such investment around 50 K Euro, i know it is not much but i guess could be ok for a start up or partnering with others

Wafadar99 Member

Member since 20 October 2019

Wafadar99Member20 October 2019 20:25:58

#81

Hello

I am from UK. I am looking for a business opportunity in Budapest. I can come any time

atomheart Serial expat

Member since 01 April 2016

atomheartSerial expat23 October 2019 15:42:05

#82

614

Wafadar99 wrote:
Hello

I am from UK. I am looking for a business opportunity in Budapest. I can come any time

Do you have the $$$?

fluffy2560 Hungary Expert

Member since 21 July 2009

fluffy2560Hungary Expert23 October 2019 18:44:14

#83

12680

atomheart wrote:
Wafadar99 wrote:
Hello

I am from UK. I am looking for a business opportunity in Budapest. I can come any time

Do you have the $$$?

Not a legit poster - if they had something solid, they'd have put in a properly written posting explaining their needs/requirements. Probably scammer.

atomheart Serial expat

Member since 01 April 2016

atomheartSerial expat23 October 2019 18:50:17

#84

614

fluffy2560 wrote:
atomheart wrote:
Wafadar99 wrote:
Hello

I am from UK. I am looking for a business opportunity in Budapest. I can come any time

Do you have the $$$?

Not a legit poster - if they had something solid, they'd have put in a properly written posting explaining their needs/requirements. Probably scammer.

Dang, I thought I finally found someone willing and able to invest into my very profitable and totally legit diamond mining operation in Nigeria...

fluffy2560 Hungary Expert

Member since 21 July 2009

fluffy2560Hungary Expert23 October 2019 19:16:01

#85

12680

atomheart wrote:
fluffy2560 wrote:
atomheart wrote:
Do you have the $$$?

Not a legit poster - if they had something solid, they'd have put in a properly written posting explaining their needs/requirements. Probably scammer.

Dang, I thought I finally found someone willing and able to invest into my very profitable and totally legit diamond mining operation in Nigeria...

You too? Mine was $$$$$$$$ from people without relatives who died in a plane crash and some kind soul wants to release their fortune to me in exchange for a cut while blessing me prolifically and appealing to my religious tendencies - variously Islamic or Christian neither of which suit me.

I don't know if I can confess my interest in Satanism here and my pledge to Beelzebub. I thought I was the only one who was offered these things due to my unique qualities. Being chosen makes all those sacrifices worthwhile but the victims/converts were of course quite willing. The evil Lord is an equal opportunity employer. But $100M stolen from the people of Wherever could mean I could carry on the "good" work for my master, oops, strike that "good", insert word bad.

Strangely I had a rash of those e-mails with minor variants a while back and I was getting worried how that airline managed to keep going. They were getting through a plane every few days and the GDP of a medium country was building up in various banks waiting to be liberated. And no-one seems to have noticed the global conspiracy.

GuestPoster279 Guest

GuestPoster279Guest25 October 2019 11:34:28

#86

atomheart wrote:
Do you have the $$$?

Meh. Who cares if they have USD.

Do they have Chinese Renminbi? Even if just a loan. A state backed currency loan may be even always better than cash, as there will always be more.....

atomheart Serial expat

Member since 01 April 2016

atomheartSerial expat25 October 2019 11:37:40

#87

614

klsallee wrote:
atomheart wrote:
Do you have the $$$?

Meh. Who cares if they have USD.

I meanth chilean peso, not USD.

GuestPoster279 Guest

GuestPoster279Guest25 October 2019 11:45:53

#88

atomheart wrote:
klsallee wrote:
atomheart wrote:
Do you have the $$$?

Meh. Who cares if they have USD.

I meanth chilean peso, not USD.

Ah... Then all is forgiven. And I thought I was the only one expecting an upturn in Chilean pesos next week....

fluffy2560 Hungary Expert

Member since 21 July 2009

fluffy2560Hungary Expert26 October 2019 20:20:16

#89

12680

klsallee wrote:
atomheart wrote:
klsallee wrote:

Meh. Who cares if they have USD.

I meanth chilean peso, not USD.

Ah... Then all is forgiven. And I thought I was the only one expecting an upturn in Chilean pesos next week....

I thought the currency in all of South America was Nachos?

belgianbullet Member

Member since 28 December 2019

belgianbulletMember28 December 2019 08:53:59

#90

Hello! Hope you all had a great Christmas.

I did, and in the meantime I also looked a bit into the future for my business. I'm Belgian born and raised and working self-employed in marketing for 5 years now.

I'm tired of the taxes here though, which can accumulate to roughly 50-60% depending on how well you are doing.

On paper, for taxes Hungary seems to be a way more interesting country to base my business in than Belgium (assuming I start a Kft). But I read up a little here yesterday and there appears to be a lot of difference between on paper and in reality.

I wouldn't be interested in selling to Hungarians though. The only reason I would pick Hungary is the tax rates and the living in Budapest. I would be working together with my existing Belgian/international clients and new international clients in a new business model I just developed. If one of them is a progressive Hungarian company, great, but I don't rely on them to make income.

Some questions I still have:

1) Do I need an OKJ to open up a marketing firm in Hungary?
2) I will be running the business on my own, without employees at first. And when I do hire people, I prefer working with freelancers that can just invoice my Kft for their services. Which implications does this business model have for my corporate tax, income tax and social security (assuming I would also have my permanent residence in Budapest)?
3) The "know a guy" culture, could I also be impacted by this? Is anyone going to give me any kind of trouble for just using Hungary as a tax haven and running a (successful) international business out of Hungary?
4) The day-to-day paperwork, is that something I could avoid by running everything through a good Hungarian lawyer and accountant? What would be a rough estimation of the yearly cost for that?
5) Any tax reformations coming up in the near future under the Orban administration?
6) Any other thoughts/aspects that I forgot to think about?

These are the first questions that pop up in my mind. I wish you all a nice weekend and end of the year!

Rob_Soos Member

Member since 16 January 2020

Rob_SoosMember17 January 2020 08:57:55

#91

Well than this is your source to check first:
doingbusinessinhungary.com/en

Fais128 Member

Member since 14 July 2010

Fais128Member12 May 2022 17:31:22

#92

Hello, can anyone give me an idea as to how renovation business is doing in Hungary these days? Is it a business that can offer some decent returns. Given the not so optimal economic situation, and with most businesses being adversely affected by several factors (not least of which was Covid), such as hospitality etc, does this business (renovation of old properties and selling them as new) strike as a feasible one? Any local/ resident of Hungary who might want to reply?

rb421 Active member

Member since 07 January 2020

rb421Active member12 May 2022 17:45:55

#93

@atomheart LoL!!!

fluffy2560 Hungary Expert

Member since 21 July 2009

fluffy2560Hungary Expert13 May 2022 05:41:33

#94

12680

Hello, can anyone give me an idea as to how renovation business is doing in Hungary these days? Is it a business that can offer some decent returns. Given the not so optimal economic situation, and with most businesses being adversely affected by several factors (not least of which was Covid), such as hospitality etc, does this business (renovation of old properties and selling them as new) strike as a feasible one? Any local/ resident of Hungary who might want to reply?
- @Fais128

Most property here is owned by families and inherited. A lot of it is poorly maintained and may have been built by the owners themselves or by local construction workers some of whom are not quite as professional as they should be - lots of bodging and poor design. Mostly, the obvious thing to do is to demolish old places and rebuild using modern energy efficient materials.

The biggest obstacle to renovation in my mind is access to capital. Lots of old properties are around which could be renovated but no-one has the money to do it. Turnover of housing stock is low. Property can remain on the market for years before selling.

There's also a shortage of good workers and prices of materials are always increasing. Work in other countries pays better and the 27% VAT is a killer.

We've been looking for someone to do work on our garden for a few years - yes, I mean YEARS. Most seem overwhelmed by the diversity of what needs to be done - everything from relaying the sewage and water pipes, paving, building a patio/deck, retaining walls and fencing. Seems odd to me that capable general contractors do not seem to exist here.