Eternity Law International — News — Company registration in Hungary

Company registration in Hungary

Published:
December 11, 2020

In terms of favorable conditions for doing business, Hungary is a very convenient state, which in every possible way encourages foreign and local entrepreneurs to work on its territory. Investors who invest in the development of the Hungarian economic sphere can enjoy various tax incentives. Moreover, it is the system of preferential tax collections in Hungary that is one of the most attractive among those offered by the countries of Western Europe.

Business owners receive a European TIN automatically, without providing any documents other than those that are directly required for registering a company. There is no need to deposit initial capital. Opening a company in Hungarian jurisdiction is beneficial for several reasons:

  • any person can act as a shareholder or director, regardless of their citizenship, residency and others;
  • in order to create a company in this state, you do not need to be present on the territory of the country in person. This procedure can be done by proxy (however, the director, nevertheless, will have to come to Hungary in order to open an account there);
  • non-residents who set up a business are given the opportunity to subsequently apply for a residence permit.

In general, the formalities of the registration procedure do not take much time, especially if you resort to the services of real specialists.

Registration process

Opening a Hungarian company involves several stages. Depending on which form was chosen for the organization, the founders of the company or the persons who act as their representatives must:

  1. suggest 3 names for the future company – in the future, they will be checked for plagiarism and compliance with standards;
  2. to certify in a notary office the documents containing the following information: information about owners, shareholders, planned activities, legal address and so on;
  3. pay the registration fee;
  4. make confirmation of the presence of capital, the amount of which would be sufficient to open a company;
  5. create a bank account.

After that, the company is listed in the Trade Register, respectively, the owner will receive a tax number and a social security package. The documentation can be written in English or Hungarian. Every year it will be necessary to provide reports on the financial side of the company’s activity and pay tax fees.

Types of company that can be registered

Hungary offers several forms of business registration for an entrepreneur, which differ from each other in terms of the minimum amount of capital, the level of responsibility of all members of the company and other criteria. The most commonly selected options are:

  • closed organization with limited liability. One person can be entrusted to manage this company, open sale of securities is not allowed. In order to start an activity, you need to contribute ½ capital;
  • unlimited and limited partnerships. Overall, the two options are very similar. The first type involves the distribution of capital between founders who have equal rights. The second form does not establish requirements for the amount of capital and allows the transfer of shares only after the general meeting has made the appropriate decision;
  • JSC with limited liability.

In any of the above cases, there are no requirements for the residency of officials, shareholders or founders.

Package of documents for registration

Representatives of the top management of the company and its founders must provide a package of personal documents, including a foreign and general passport, and utility bills to confirm their place of residence. In addition, it is advisable to add the European insurance number to this list. In the information submitted for registration, the mother’s maiden name is indicated.

Business data must contain the following:

  • enumeration of areas of activity;
  • the amount of the financial share of each of the founders;
  • for legal entities – an extract from the register of the state where the person is registered, and a power of attorney issued in the name of the representative.

Based on the documents received, the attorney prepares the company’s charter, the founding agreement, a statement regarding the opening of the organization and the appointment of the appointed management to the relevant position.

If you need to register a company in Hungary, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Hungary. Write to us in the CRM form and we will help you register a company.

Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.

We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.

If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.

You can order Company registration in Hungary now!

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This region was established as a major direction for venturers, suggesting a beneficial profit-oriented sphere with alluring charge persuasions. For those searching to commence  a profit-oriented functioning, apprehension of the tariffs for organisation enrollment and retaining is vital. This article breaks down the major expenses related to organisation setting up, retainment, and additional charges incurred in running a commercial functioning in this direction.

Tariffs for establishing an organisation

The cost of company registration in Hungary is relatively beneficial compared to other states. Hungary’s commercially gainable practices mean low company registration prices and mitigated equity demands makes it  an alluring option for regional and overseas venturers alike.

The exact business registration cost in Hungary is contingent upon aspects such as the model of lawful unit you opt for. The most common structure, a LLC, demands moderate fees for lawful papers, notarial certification, and authorised charges. Venturers could also hire professionals to streamline the process, which may add to the total cost but saves time.

Stages of Organisation Establishment:

– Operating three capable trading titles.

– Notarial certification of papers.

– Launchement a bank account and secure a European TIN.

This direction suggests relatively mitigated tariffs for routines like retainment and setting up of a firm  and reduced equity demands, making it an alluring option for both regional and overseas venturers. The exact charges content upon the lawful model chosen, with LLCs being a common and moderately charged option. While professional facilities can simplify the routine, they may increase the overall tariffs. Major stages in establishing a profit-oriented functioning encompass opting for three trading titles, lawful witness papers, launching a bank profile, and receiving a TIN.

Tariffs of Organisation Retainment

After submitting, organisations ought to budget for ongoing company maintenance fees in Hungary, which cover fiscal facilities, charge reporting, and obedience facilities. These levies guarantee  the commercials remain in good standing with regional authorised organs.

– Fiscal Facilities: Organisations ought to retain precise fiscal updating and, for larger commercials, undergo yearly assessments.

– Tax Submission: Regular tax reports are obligatory. Many businesses hire proficient staff who specialise at charge and levy supervisions  to guarantee obedience and optimise charge benefits.

– Lawful Facilities: Ongoing legal assistance may be needed for contracts, supervisory obedience, or changes to organisation model.

The annual fees for company maintenance in Hungary also encompass profit-oriented administrative facilities, guaranteeing proper secretary methodics  and record-keeping.

In conclusion, firms in this region ought to forecast continuous charges to guarantee obedience with regional supervisions and retain smooth functioning. These outcomes cover monetary reporting, charge submissions, lawful facilities, and administrative functions. Regular venturing in fiscal, charge, and lawful assessment is vital for organisations to stay obedient, optimise charge gains, and efficiently conduct their profit-oriented functioning records. Proper budgeting for these ongoing fees is critical for the long-term sustainability of profit-oriented functioning in this region.

Extra Outcomes for Organisation Enrollment and Retainment

There are several extra outcomes to speculate about beyond basic company registration and maintenance fees Hungary:

– Lawful Witness and Papers conversion Levies: Some papers necessary lawful witness and translation into regional language.

– Visa and Residence Permits: Foreign owners may need evidence of lawful staying, which come with lawful and government fees.

– Coverage: Certain profit-oriented functions are demanded to attain public reliability or employee coverage.

– Obedience Charges: Some industries require extra allowances, adding to the organisation setting up and retainment charges.

In conclusion, beyond basic organisation establishing and retainment charges, profit-oriented organisations ought to consider extra outcomes such as lawful witness and paperwork translation charges, visa and residence permit charges for overseas proprietors, mandatory insurance coverage, and industry-specific obedience charges. These factors contribute to the overall tariffs of setting up and retaining a commercial functioning, making it vital for venturers to account for these capable extra outcomes in their monetary forecasting.

Summary 

This direction offers a highly cost-effective sphere for organisation retainment and raising. With low prices for company formation in Hungary and company registration fees comparison, this region stands out as a major direction for profit-oriented enthusiasts  among other states. Many venturers are often curious about the specific tariffs encompassed  in establishing an organisation, and it’s a common question. How much does it cost to register a company in Hungary? Fortunately, this topic is addressed in detail in this essay, providing an apprehensive overview of the associated fees and lawful demands. Readers would find clear answers to their queries about organisation enrollment charges and how they compare to other jurisdictions.

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