Frequently Asked Questions about Company Formation

Updated on Thursday 21st April 2016

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Starting a business in Hungary implies several phases, from choosing the most suited type of company for your business objectives to company registration. There are many details that a foreign investor or entrepreneur should know before opening a company in Hungary. Our company formation specialists in Hungary prepared a comprehensive list of frequently asked questions related to the process of establishing a business in this country.

1. Can a non-resident open a company in Hungary?

Yes. Foreign investors interested in opening companies in Hungary beneficiate from the same treatment as in the case of local investors.

2. How long do I have to wait in order to incorporate a company in Hungary?

The process of company incorporation in Hungary lasts for about 5 working days if all the documents are in order and if all the requirements are fulfilled. Asking for the help of a company formation firm in Hungary is the best way to proceed when incorporating a company in the country. Our company registration experts in Hungary can assist you through the entire process of incorporating a company in Hungary.

3. What are the costs for opening a company in Hungary?

The business start-up costs in Hungary vary depending on the type of company you intend to set up here and on the additional services you may choose for your new business. Our company incorporation experts in Hungary advise you to send them a detailed e-mail with your business project in order for them to analyze it and answer you with a personalized offer.

4. What are the main steps for company incorporation in Hungary?

The main steps in order to start a company in Hungary are as follows:

- choosing the type of company;
- choosing a name for your company and wait for the approval of the Company Registrar in Hungary;
- compile the application in order to register your new company with the Company Registrar in Hungary.

5. Do I need to deposit a minimum share capital at the incorporation in Hungary?

Depending on the type of company you choose to incorporate you may be obliged to deposit a minimum share capital. There are several legal entities in Hungary that require a minimum share capital, such as: the limited liability company (Kft.), the private company limited by shares (Zrt.), the public company limited by shares (Nyrt. or Rt.). Our specialists in company registration in Hungary can provide you with more details about the initial amount required by each legal structure.

6. How can I set up a bank account in Hungary?

In order to open a bank account in Hungary you must present a passport or a Hungarian ID card as proof of identity. If you are an expat or a foreign entrepreneur who is interested in opening a business in Hungary, our local experts can help you open a bank account in Hungary .

7. What documents do I need in order to incorporate a company in Hungary?

The main documents you need to submit with the Trade Register in Hungary are:

- the commercial license;
- documents of incorporation which will include the following information: the address and the unique name of your company, the activity and the type of the company;
- the receipt of the bank account.

The experts at our company formation firm in Hungary can provide you with complete guidance through the entire registration procedure.

8. What taxes do I have to pay for my new company in Hungary?

Regarding the corporate taxation in Hungary, you should know that the value of the corporate tax is 10% up to the amount of 500 million HUF and 19% over this amount.

9. Do I need business permits or licenses in Hungary?

There are some industries in Hungary that require a special business permit, such as: the mining sector, the trading industry, the construction sector, etc.

10. Why should I invest in Hungary?

The main 5 reasons for investing in Hungary are the following:

- good geographical location;
- well trained workforce;
- business friendly environment;
- a favorable tax system;
- government incentives.

Feel free to contact our company registration agents in Hungary for detailed information about the investment options available in this country.

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