Lowtax Network

Back To Top

Your Lowtax Account

Tension between Austria and Hungary over immigration issues

Healy Consultants Group PLC
27 July, 2015

News is that a clash is forming between Austria and Hungary over the problematic immigration processes that are a big issue at the moment. Healy Consultants already covered this topic in regard to Hungary in our recent article, but this new tension in Central Europe may lead to problems in trade and business relations.

Hungarian Prime Minister, Victor Orban declined the EU's Asylum seeker program. The country already sheltered 60,000 illegal immigrants in 2015 and cannot accept any more newcomers. On the other side the Austrian Interior Minister Johanna Mikl-Leitner announced ""Hungary's decision is completely unacceptable for us. We do not rule out border controls as a last resort". A border control between the two countries may prove problematic for even simple logistical operations.

The efficiency of the EU is comprised of three main factors, namely, free trade, single currency and free movement of people. The first factor is still true for the two countries which are big trade partners at the moment as Austria is the third largest importer of Hungarian goods.

However, for the other two factors, there are possible difficulties in the trade. Hungary has its own currency which is unstable and fluctuating at the moment. And now with the proposed border control between the states, business relations are set to become increasingly difficult. Border control and passport checks between Austria and Hungary were abolished more than a decade ago with Schengen.

In light of these difficulties, there is a growing need for efficient business setup solutions for foreign investors in the region. With our business entities guides for both Austria (click here) and Hungary (click here), Healy Consultants provides our readers with the latest business setup information in a convenient comparison table. 


Best regards,

Mr. Petar Chakarov

---------------------------------

Client Relationship Manager
Healy Consultants
View my profile here!
15th Floor, Valley Point, 491B River Valley Road, Singapore 248373
Tel: (+65) 6735-0120
Follow us on Linkedin and Google+
Web: www.healyconsultants.com


Tags: Euro


About the Author


Healy Consultants Group PLC

Since 2003, Healy Consultants assists international Clients with company incorporation services worldwide. Our services include: company registration, opening of corporate bank account, accounting and tax services, legal services, jurisdiction comparisons...more.

To inquire more information about global business set up; call us on +65 6735 0120 or email us at email@healyconsultants.com

 

 

« Go Back to Blogs

Blog Archive

Event Listings

Listings for the leading worldwide conferences and events in accounting, investment, banking and finance, transfer pricing, corporate taxation and more...
See Event Listings »