Hire your remote team in Hungary

Only 499 EUR per employee per month

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Hiring a remote team in a country as Hungary comes with a lot of overhead, such as compliance, local laws, taxes, etc. As a company, you don't want to worry about knowing all the local laws. Instead you want to focus on your remote team and the business. Rivermate's Employer of Record (EOR) solution helps companies hire remote employees in Hungary. We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business.

A remote team

1. Hire a remote team in Hungary with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in Hungary, particularly if you don't have established local relationships. You can hire employees in Hungary effectively, conveniently, and in full compliance with all relevant labor laws using Rivermate's global Employer of Record (EOR) solution. We handle the responsibilities and legal risks associated with foreign employment so you can concentrate on growing your company.

2. Introduction

Rivermate is a global employment solutions company that provides Employer of Record services in Hungary.

As an employer of record, we help you hire employees and run payroll services in Hungary, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Hungary.

It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.

If you wish to hire a remote team in Hungary or individually hire remote employees in Hungary, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.

Send us a message so we can talk about how Rivermate’s Employer of Record Hungary services can best help your company!

3. Hire a remote team in Hungary

Hungary is a nation in central Europe recognized for its rich musical tradition. Hungary has remained different throughout history owing to ethnic immigration.

Hungary is also well-known for its tourist industry, which includes some of the most renowned spas and baths in the world. Hungary's economy has been built on exports; yet, there is a skilled worker shortage in several areas, as well as young unemployment. These are possibilities that can be realized via local and global investments.

Hungary is rich in natural resources and produces essential items such as wheat, maize, potatoes, and dairy products. Mining, building materials, textiles, and automobiles are a few of the important industries.

4. Cost of living in Hungary

Hungary's cost of living is $712, which is 1.31 times less costly than the global average. Hungary rated 119th out of 197 nations in terms of cost of living and 47th in terms of quality of life.

In Hungary, the average after-tax wage is $801, which is enough to pay living costs for 1.1 months.

5. Cost of renting in Hungary

- 125,000 HUF/Month (414 USD) for a two-bedroom apartment (Budapest)

- 53,000-107,000 HUF/Month (176-355 USD) in the Southern Regions of Hungary

- 194,356 HUF/Month (645 USD) with utilities in the winter

- 171,176 HUF/Month (568 USD) with utilities in the summer

6. Major industries in Hungary

Hungary is a global leader in nanotechnology, molecular chemistry, and biotechnology services. Medical equipment providers in Hungary are EU-based manufacturers, providing a broader scope for global enterprises and investors. Hungary is an export-driven producer of medical supplies and equipment, employing approximately 120,000 people in the healthcare industry. Hungary makes medical gadgets that are exported all over the globe thanks to technical breakthroughs.

Consumer Electronics and E-Commerce: To expand its e-commerce business, Hungary is focusing on its weak IT infrastructure and educational institutions. With the obstacles provided by the pandemic, online sales and transactions have exceeded their original forecasts, offering greater opportunity for local and worldwide enterprises.

Franchising: For more than 30 years, franchising has been a part of Hungary's history. With global food chains such as McDonald's, Kentucky Fried Chicken, Burger King, and others expanding in Hungary, the scope of additional multinational chains investing in Hungary has grown tremendously. There are roughly 350 businesses, with 50% of them being foreign-owned. With over 20,000 franchisees and over 100,000 workers, this industry offers development opportunities comparable to other nations. Local franchises offering a variety of services have also grown in popularity over the years, with hair salons, pharmacies, bakeries, and real estate businesses among the main challengers. However, there exist skill shortages in the delivery of products and services. These gaps create additional possibilities for companies and investors.

7. Hiring cost in Hungary

The average monthly salary in Hungary is around 493,000 HUF (1,663 USD). These include housing, transport, and other work benefits specific to the type of job.

- Minimum Salary – 125,000 HUF/Month (421 USD)

- Median Salary – 523,000 HUF/Month (1,764 USD)

- Average Hourly Wage – 2,840 HUF (9.58 USD)

8. Employment laws Hungary

In terms of labor law, Hungarian legislation operates under the supervision of European laws. When there is a labor dispute, the court normally supports the employee's rights, which are stated in the Labor Code, collective bargaining agreements, and employment contracts.

Fixed Term Employment and Indefinite Term Employment are common terms used to describe the relationship between an employer and an employee in the context of a contract. A formal contract is required at all times. It is the employer's obligation to establish the terms and make them known in writing.

The majority of jobs in Hungary provide employee perks. Many businesses have made providing basic perks obligatory.

9. Top skills Hungary

The most in-demand job skills in Ethiopia include the following:

- IT

- Marketing, Sales and Business Communication

- HR

- Accounting and Financial

- Customer Services, SSC

- Automotive, Construction

- Mechanical Engineering

- Health Sector

10. Economic landscape in Hungary

Hungary has enormous potential in important areas such as textile, food processing, and agriculture. With a low unemployment rate of 4.4%, job security is provided in a variety of industries. Hungary is a tax-friendly nation with no house or land tax, offering investors and enterprises opportunity to build their infrastructure.

Over the years, Foreign Direct Investment has played a significant role in upgrading sectors, creating employment and boosting the country's economic progress.

11. Market size in Hungary

Hungary has managed to keep ahead of the competition by raising market knowledge of the Covid 19 pandemic's concerns. Hungary intends to increase operational efficiency and broaden its market. The retail sector is expected to be worth around 1.7 billion USD by 2021.

12. Minimum wage in Hungary

The minimum wage in Hungary is set at 167,400 HUF. However, when the job requires secondary educational and vocational qualifications, the guaranteed minimum wage is 219,000 HUF.

13.Why choose Rivermate to hire your remote team in Hungary?

Establishing an entity in Hungary to hire a team takes time, money, and effort. The labor law in Hungary has strong worker employment protection, requiring great attention to details and a thorough awareness of local best practices. Rivermate makes expanding into Hungary simple and effortless. We can assist you with hiring your preferred talent, managing HR and payroll, and ensuring compliance with local legislation without the hassle of establishing a foreign branch office or subsidiary. Our PEO and Global Employer of Record (EOR) solutions in Hungary give you peace of mind so you can focus on running your business. Please contact us if you'd like to learn more about how Rivermate can help you hire employees in Hungary via our Employer of Record (EOR) / PEO solution.

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