It is Hungary where a company can be set up in the shortest possible time in the region, however, this data is outstanding at global level, as well.
World Bank’s actual statistics present how many days are necessary for building a business up from scratch in the given country. In some cases the procedure can be accelerated (for example by paying extra money), so the fastest administration process was taken into consideration.
New Zealand is the first country on the list that compares nearly two hundred countries. There, only one day is required to establish an enterprise, while in Macedonia, Rwanda and Georgia it takes little more days, exactly two days. Suriname takes place at the very end of the list because an entrepreneur must wait 208 days to start his own business in this state. South-American, African and underdeveloped Asian countries are the last ones on the list, and San Marino is the worst among the European countries with 40 days. The complete table can be viewed in the following article on napi.hu.
Hungarian people must spend only 5 days with building a business up in their own country, and thank to this number Hungary is at the same level with USA, Canada, Afghanistan and Iceland. As regards the region, the Hungarian data stands out from the other countries’. The days of administration count 6 in Slovenia, 18 in Bulgaria, 25 in Austria and 30 in Poland.
Thanks to the electrification, regulation of setting up a business has been accelerated and simplified from September of 2007 in Hungary. In 2008, one work hour registration became available, however, it was ceased three years later because of the growth of security risk and the spread of phantom companies. Starting a business became more expensive and procuration became more slowly from 2012. The procedure remained simplified only in the company registration process in Hungary.