Hungary Company Formations

Hungarian Key Points

• Time – 2 weeks to incorporate your company
• Directors – only one director
• Shareholders – only one shareholder
• Tax – A beneficial tax environment
• Support – using our 20 years experience we guide you throughout every step of the company formation process
• Immediate VAT number with the eligibility to trade with all EU Member States free of VAT

Incorporating your Hungarian KFT

Once the necessary details are collected (details of directors, shareholders, company name, activity, and required services) the statutory documents, Articles and Memorandum, Specimen Signature are prepared. It is recommended to visit  Hungary and sign the formation documents before a lawyer.  The alternative is that documents are sent via email and notarized before the consular department at your nearest Hungarian embassy.

• After we receive the relevant documents we file the company with Registry Court.
• Due to electronic filing the physical incorporation only takes one day.
• Domestic tax number and VAT number is issued along with Certificate of Incorporation.

After the company is incorporated the bank account can be opened, you will need to travel to Hungary.   Share capital HUF 300,000 must be deposited into the account until the bank issues the certificate of payment.

Directors

• No nationality or residency restrictions
• Only one director is required.
• There is no requirement to appoint a local resident director.

Shareholders

• • No nationality or residency restrictions
  • Only one shareholder is required. This can be the same person as the director.
  • No upper limit to the number of shareholders.
  • Corporate or individual shareholders are permitted.

Company Name

When you set up a company in  Hungary, you need to choose a name that is unique  abbreviation of ‘ Kft. ‘-must be indicated in the company‘s name.

Share Capital

3 million Hungarian forints

Proof of Identity

Documents you are required to provide:

1. Photographic proof of ID . either passport, national identity card,  driving licence
2. Proof of residential address. Gas/electricity bill or credit/debit card bank statement dated within the last 3 months

Registered Office

You must have a registered agent and registered office in Hungary

Hungary Company Formation fees