Starting a business in Hungary

Company registration in Hungary

One of the best options for people wishing to open a company in Europe is to start a business in Hungary. Has about 70 agreements on the avoidance of double taxation. The popularity of starting a business in Hungary is due to the low corporate tax, the central location in Europe, and the developed economic infrastructure.

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Hungary company register: Available legal forms

Korlatolt Felelossegu Tarsasag (LLC) is a popular form of company registration in Hungary among businessmen. KFT can be a suitable option for tax planning when a firm has a small number of founders.

Businessmen can open other forms of enterprises in the territory of Hungary:

  • Partnership with limited (BT) or unlimited (KKT) liability;
  • Closed joint-stock company (ZRT).

How to start a new business in Hungary: KFT share capital

Company registration in Hungary requires certain financial expenses from businessmen. In the case of registering KFT, you need a minimum share capital of 3 million forints — about 8-9 thousand euros.

At least half of this amount should be paid at the time of company registration. The remaining sum — during the next 365 days. However, there is an important nuance: if at the time of the establishment, there will be only one member of the KFT company, the share capital must be paid immediately and in full.

Starting a business in Hungary: Peculiarities of the name of the future company

To open company Hungary, a businessman should be careful in selecting its name. It is forbidden to use names that are very similar to the names of existing businesses.

In particular, it is forbidden to use words associated in any way with the state or related to the government. In such a situation, registration of the company will be denied.

At the end of the company name must be an abbreviation that reflects the legal form of the business chosen by the businessman — KFT, BT, and so on. Starting a business in Hungary without the full name of the company, including the abbreviation of the legal form, is not possible.

Hungary company register: Advantages

Hungary is a country that provides a wide list of advantages for businessmen who want to open company in Hungary:

  • Relatively simple company registration, which can take up to 30 days, but you can start business activities immediately after submitting the documents.
  • One of the lowest corporate taxes in Europe at 9%.
  • Low costs for opening and maintaining the company.
  • Simple procedures for obtaining a visa and residence permit.

What you should remember when starting a business in Hungary as a foreigner

All firms located in the territory of Hungary must undergo a mandatory audit, keep accounts, and submit financial reports. The appointment of an auditor is mandatory when:

  • The annual income of the company exceeds 300 million forints (about 850 thousand euros).
  • The company has more than 50 employees.

Our experts offer a set of services for Hungary company registration. We can register company in Hungary quickly and at an affordable price and, if necessary, provide other necessary assistance.

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