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- Oct 30, 2015
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Hi everyone,
I have a fairly great problem. I would like to establish a US company from Hungary, because it would be necessary to my business. My company is specialized on translations, and we would like to go international (in EU only) that’s why I would need the company in the US. Besides, taxation laws are more favorable there than in my country.
Unfortunately, I have been talking with many tax advisers in Hungary (where I live), but none of them could give me straight answers, and when they did they always contradicted each other’s words (I’m starting to think that nobody knows anything about these things in Hungary).
I have listed my questions and uncertainties, I would be more than grateful if you could answer at least some of them. I would like to act allowably in every ways, and I would like to avoid any violation of regulations caused by my ignorance.
- From what I know, if I don’t do business inside the US (I only want to operate in Europe and in parts of Asia, China mainly), I don’t have to pay any taxes. Is it true?
- If I don’t have any kind of headquarter in Hungary and I only live there, the American or the local Hungarian taxation regulations are applicable for me?
- The company would be established in Arkansas, because as I know there is no VAT there at all. Is it true? If not, when do I have to register under VAT?
- If I would like to work for European clients would I need an EU Tax Number?
- What is the main difference between an LLC and an INC in general? What would be more suitable for us, if our goal is simplicity?
- I would like to open a Hungarian (or other European) bank account for the US company for practical reasons. Could there be any problem with it? I’ve heard that I can open one, but some banks may find it suspicious (what I don’t really understand) and refuse money transfer to our account. It would be really awkward if payments from clients would not arrive to us because some banks decide to not allow the transaction.
Thank you very much for any answer or help in advance J
I have a fairly great problem. I would like to establish a US company from Hungary, because it would be necessary to my business. My company is specialized on translations, and we would like to go international (in EU only) that’s why I would need the company in the US. Besides, taxation laws are more favorable there than in my country.
Unfortunately, I have been talking with many tax advisers in Hungary (where I live), but none of them could give me straight answers, and when they did they always contradicted each other’s words (I’m starting to think that nobody knows anything about these things in Hungary).
I have listed my questions and uncertainties, I would be more than grateful if you could answer at least some of them. I would like to act allowably in every ways, and I would like to avoid any violation of regulations caused by my ignorance.
- From what I know, if I don’t do business inside the US (I only want to operate in Europe and in parts of Asia, China mainly), I don’t have to pay any taxes. Is it true?
- If I don’t have any kind of headquarter in Hungary and I only live there, the American or the local Hungarian taxation regulations are applicable for me?
- The company would be established in Arkansas, because as I know there is no VAT there at all. Is it true? If not, when do I have to register under VAT?
- If I would like to work for European clients would I need an EU Tax Number?
- What is the main difference between an LLC and an INC in general? What would be more suitable for us, if our goal is simplicity?
- I would like to open a Hungarian (or other European) bank account for the US company for practical reasons. Could there be any problem with it? I’ve heard that I can open one, but some banks may find it suspicious (what I don’t really understand) and refuse money transfer to our account. It would be really awkward if payments from clients would not arrive to us because some banks decide to not allow the transaction.
Thank you very much for any answer or help in advance J