Hungary – KFT Company Incorporation
Hungarian Key Points
- Time – 2 weeks to incorporate your company
- Directors – only one director of any nationality, is necessary for your company
- Shareholders – only one shareholder of any nationality is required
- Share Capital – minimum share capital of EUR 1,800
- 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
Private limited company. Liability is limited to the amount of capital paid up, with the minimum currently set at HUF 500,000 (approx. €1,800). This is the most common form in Hungary. May be owned by a single individual, several individuals, or a holding company.
Documents and Information
To start incorporating your company in Hungary we require the following:
- Your proposed Company Name
- The Director/s full name, date of birth, address and nationality
- The Shareholder/s full name and address
Documents you are required to provide:
- Proof of identity. either passport, national identity card, photographic driving licence
- Proof of residential address. Gas/electricity bill or credit/debit card bank statement dated within the last 3 months
Incorporating your Hungarian KFT
The procedure of a company formation in Hungary is very quick and simple.
Once the necessary details are collected (details of directors, shareholders, company name, activity, and required services) we then prepare the statutory documents, Articles and Memorandum, Specimen Signature. Within a few days when the client can either take a visit to Hungary to sign the documents before a lawyer or the documents get sent to the client via email in order to have it notarized before the consular department of Hungarian embassy in his/her country. If the client choose the second option, the documents will then be needed to be sent back to us.
- After we recieve 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. It can be done by the client or we can assist if personal presence is impossible. Share capital HUF500,000 must be deposited into the account until the bank issues the certificate of payment.
- Directors may be of any nationality and may reside anywhere.
- Only one director is required.
- There is no requirement to appoint a local resident director.
- Shareholders may be of any nationality and may reside anywhere
- Only one shareholder is required. This can be the same person as the director.
- No upper limit to the number of shareholders.
- The shareholder can be a person or a corporation.
You must have a registered agent and registered office in Hungary – this is not included in the standard company formation price.