HUNGARY

Logistic and forwarding services in Hungary

Hungary

Capital City
Budapest

Population
10 Mio.

National languages
Hungarian, German, English.

Currency
Forint (HUF)

Gross national product (GNP)
USD 137 Mrd

GNP per person
USD 13’881

Financial exports to Switzerland
CHF 1,07 Mrd

Financial imports from Switzerland
CHF 1,1 Mrd

Bilateral relations Switzerland–Hungary

The events of 1956 continue to have a significant influence on relations between Switzerland and Hungary. Following the failed uprising against Soviet communism, around 12’000 Hungarian refugees found asylum in Switzerland.

Economic cooperation

Hungary is Switzerland’s third most important trading partner in Central Europe. In 2014, Swiss direct investment amounted to EUR 1,45 billion, which corresponds to 2.7% of all foreign direct investment in Hungary. This places Switzerland among the ten most important foreign direct investors in the country.

 

Business language

Hungarian, German, English.

 

Dimensions and weights

Metric system.

Currency

National currency Forint (Ft) = 100 filler (f).

ISO code: HUF

Customs tariff

Harmonised system, customs clearance based on the transaction value.

Import control

EU goods are freely available. Signed invoices with a company stamp and all standard information and an indication of the country of origin are necessary for the customs clearance of non-EU goods.

Quality certificates: certain products such as foods, children’s toys, construction materials and hazardous or high-emission products are subject to a statutory inspection obligation to protect the consumer and the environment. After the procedure has been carried out a marketing authorisation (Szakvélemény) is issued in Hungary by the respective competent state recognised certification body.

The new electronic road freight control system EKAER was introduced in Hungary on 01/01/2015. There is a reporting obligation for goods transported by truck which are imported from the EU to Hungary or exported from Hungary to the EU or are sold to non-end-consumers within Hungary for the first time. There are different regulations for when an EKAER is necessary depending on the type of goods (Hungary distinguishes between high-risk and non-high-risk goods).

More information can be found on http://www.ahkungarn.hu/marktinfos/ekaer-system/

The law on the use of the Hungarian language requires advertising and commercial labels and instructions for use to be in Hungarian.

The import of Hungarian currency, foreign currency checks or securities of 1 million or more must be notified to the border customs office in writing. Invoices for 1 million or more may not be paid in cash, they may only be paid by bank transfer. There is also a reporting requirement when importing and exporting cash totalling more than EUR 10.000.

Standard VAT rate: 27%

Reimbursement of VAT paid is possible.

Terms of payment and tenders

All terms of payment are subject to free agreement. Payment after receipt of the goods with a term of 30 days is standard. Letters of credit, bank guarantees and bank cheques are recommended.

Agreeing arbitration clauses in contracts is generally recommended. Invoices in EUR. Tenders in German are standard.

Designations of origin

Usual markings. Prohibition on misleading customers.

Packaging

The EU Directive sets out that packaging materials made of wood must be manufactured from round logs. This EU regulation goes beyond the necessary treatment set out in the ISPM 15 standard. When using disposable packaging the type of material, the weight and the customs tariff number of the packaging material should be indicated in the commercial invoice as the importer requires this information to fill in the imported goods declaration. Hay and straw are prohibited as packaging materials.

Exceptions are only permitted if the supplier attaches health certificates for the hay or straw. In this case a note should also be placed on the outside of the packaging in a clearly visible manner stating that the packaging material has been checked.

Product samples

Duty free where there is no retail value.