Hungary Employer of Record Services
Hungary Employer of Record
The mixed economy of Hungary has led to a highly skilled and broadly oriented population. With an international open approach to foreign investors, Hungary is an appealing country to expand into. By using us as a EOR you can start operating from Hungary this week while we take care of hiring your employees compliantly.
Hungary is the 36th biggest export country worldwide and its economy is focused on trade. Therefore, the country established numerous trade agreements and has non-tariff measures in force that can benefit your business in Hungary.
With relatively low costs of living and a mixed, internationally oriented economy with many trading possibilities, a global expansion into Hungary can lead to profitable opportunities and growth for your business.
What is Employer of Record (EOR) in Hungary
As an EOR we conclude an agreement with both you and the employee who will be working for your company. We become the legal employer of your new workforce and are responsible for taxes, labor laws, and other local regulations that might be unfamiliar to you now. Your company maintains control over the working relationship, work ethics, tasks, and daily responsibilities of your employee.
How a Hungary Employer of Record (EOR) Works?
An Employer of Record (EOR) is the legal employer of your new workforce. Our agency in Hungary will legally hire your selected employees while you are responsible for day-to-day activities.
At Bradford Jacobs, we are currently operating in over a hundred countries in which we use local networks of experts. This allows us to gain expert knowledge of local laws and regulations, but also of recruitment customs and trends. By partnering with us as an EOR your company will have access to this expert knowledge too.
Our contract with your employee is 100% compliant with the Hungarian labor laws and includes benefits such as insurance and pensions. We can hire, onboard, and manage your new employees in Hungary within days.
This is what we can do for you:
• We hire your new talent compliant with Hungarian laws and regulations
• We are responsible for the employment contract, HR (Human Resource), taxes, and payroll
• We provide and arrange the required visa or work permits
• Our team keeps your employee in the loop on holiday arrangements, benefits, or changes in labor laws
• We keep you posted on local law changes and adapt to these changes compliantly
• Your employees’ declarations are sent to us monthly. We will invoice you in time and once the payment is completed, we will deduct taxes and other contributions and guarantee your employees receive their salary on time
• You remain in control of the daily activities and responsibilities of your employee
Using a Hungarian Employer of Record (EOR) Provider Features and Benefits
The greatest benefit of using an EOR is probably that there is no necessity for you to set-up an entity in Hungary. This process can take months and during this period, it is unlikely that you have legal resources to pay your employees in Hungary resulting in a considerable delay in your global expansion plans.
Global expansion is an exciting step that often leads to a growing and successful business, but the red tape in a new country can be demotivating and frustrating. Imagine a way to globally expand your business without red tape and at low costs: that is what working with an EOR can do for you.
By letting us take care of the hard part, you can focus on the great part: expand your business into Hungary. These are the aspects we can take away from you:
- Registering with the tax and social security office
- Immerse yourself in the local laws, customs, and regulations
- Get familiar with local labor benefits and other contract-related customs
- Approach potential employees and make them an offer
- Setting up the payroll system compliantly
- Submitting wage tax returns and national insurance forms
- Staying up-to-date and compliant with changes in local regulations
- Worrying about whether you are working compliantly with all laws, restrictions, and regulations