Starting a Ltd Business in Hungary

Korlatolt felelossegu tarsasag, Kft - Limited Liability Company

Minimum Capital Requirement: Ft 3,000,000

We hire a lawyer who represents the company, creates company deeds, and prepares other legal documents. This takes around 5 days. In the registration process the company must be represented by an attorney at law.

We then notarise the specimen signatures and documents.

Pay at least 50% of subscription amount (at least Ft 1,000,000) into the bank account designated at the time of subscription. The balance to be paid within one year from the incorporation.

Apply for registration at the Registration Court

The lawyer does the procedure. Upon receipt of the application and the above attachments the Court records the company's name and address and issues the registration number of the company and at the same time obtains and enters into the register the company's tax number and statistical number. Within two days after the Court receives the application, all data regarding the company shall be entered into the register, with the remark that the company is under registration.

From the date of the submission of the application the company may start to operate as a pre-incorporated company. If the Court approves the application, it will order the company to be registered (statutory deadline for the Court to approve or reject is 30 days calculated from the receipt of the application, which can be extended once by 8 days). If the Court does not make any decision until the above-mentioned period, the registration will occur automatically. Publication in the Company Gazette ("Cgkzlny") is made after the registration is ordered by the Court.

The registration at the State Taxation Office (VAT and income tax) and at the statistical office is done through an online system by the Court, simultaneously with the submission of the application for registration.

Register for social security

File an announcement with the central and local tax authorities, statistical office and Social Security authorities.

Separate announcements will be filed with the tax (central and local), statistical and social security authorities within 15 days.