Company registration in Hungary | ||||||
|---|---|---|---|---|---|---|
| Name of service | Package Economy | Package Standard | Package Full | Package Plus | Package Exclusive | |
| Company registration, including the payment of state fees | + | + | + | + | + | |
| Legal address for 1 year | – | + | + | + | + | |
| Remote opening, including the transfer of power of attorney | – | – | + | + | + | |
| Bank account | – | – | – | + | + | |
| Accounting service for 1 year | – | – | – | – | + | |
| Total cost | 1800 EUR | 2500 EUR | on request | on request | on request | |
Order | Order | Order | Order | Order | ||
General information
Hungarian Kingdom reached the peak of the greatness in the thousandth year AD, gaining power over the territory of Slovakia, Croatia and Transylvania. Hungary gradually began to lose power, survived the Mongol invasion, the Turkish yoke, and in 1867 became part of the Austro-Hungarian Empire. After the First World War, Hungary existed as the Hungarian Soviet Republic, then as the Hungarian Kingdom. Second World War Hungary fought on the German side. After the collapse of the Third Reich, Hungary became part of the Eastern bloc, and in 1989 became a parliamentary republic.
At present, Hungary is the member of European Union, the OECD and the WTO. The private sector brings up to 80% of GDP, and the main economic activities are agriculture, production of pharmaceutical, metallurgical, mining and construction materials.
The most common business entities
The most popular type of business registration is a limited liability company (LLC)
Corporate legislation
In Hungary there is a continental system of law, including EU law.
Registered capital
A minimum amount of capital is 3 million HUF. Half of the amount must be paid before registration.
The main requirements for the directors and shareholders
In Hungary, the LLC must have at least one director and one shareholder, without any specific requirements, information about them is stored in a public register.
Disclosure of the company’s beneficial to the government bodies
Information on beneficiaries is disclosed only by a court decision.
Taxation
Main tax is corporate and personal income taxes. There are also a great number of local taxes and levies.
Income tax is paid on income earned in the world for resident companies and from income earned in the territory of Hungary for non-resident companies. All companies must submit a tax return
Accounting
All companies must keep accounting records and submit annual returns..