Frequently Asked Questions about Hungary

The following are some of the most frequently asked questions about Hungary Company Formation:

How long does it take to incorporate a Hungarian company?

How difficult is it to open a corporate bank account for a Hungarian company?

Am I required to visit Hungary to incorporate a company there?

What is the minimum number of directors required for a Hungarian company?

Is a resident director required?

What is the minimum number of shareholders required for a Hungarian company?

Can my company be 100% foreign-owned?

Are shareholder/director details available for public viewing?

What are the minimum capital requirements for a Hungarian company?

Is a Hungarian company required to submit an annual tax return and/or financial statements?

What are the tax implications of a Hungarian Company formation?

Does a Hungarian company benefit from double taxation treaties?

How long does it take to incorporate a Hungarian company?
Registering a Hungarian company will take about three weeks.

How difficult is it to open a corporate bank account for a Hungarian company?
For a Hungarian company, opening a corporate bank account with a reputable international bank is simple.

Am I required to visit Hungary to incorporate a company there?
No. Healy Consultants can legally incorporate your Hungarian company without you needing to travel.

What is the minimum number of directors required for a Hungarian company?
Under statutory regulations, a Hungarian company requires a minimum of one director.

Is a resident director required?
A Hungarian company does not require a resident director.

What is the minimum number of shareholders required for a Hungarian company?
A Hungarian company requires a minimum of one shareholder.

Can my company be 100% foreign-owned?
Yes.

Are shareholder/director details available for public viewing?
Yes.

What are the minimum capital requirements for a Hungarian company?
A Hungarian Limited Liability Company requires a minimum share capital of HUF500,000 or approximately 1,800 Euros (US$2,300).

Is a Hungarian company required to submit an annual tax return and/or financial statements?
A Hungarian company is obliged to submit an annual tax return and/or financial statements. The accounts have to be audited.

What are the tax implications of a Hungarian Company formation?
A Hungarian company is liable to pay a corporation tax of 10% to 19%. Since 2010, the solidarity tax of 4% has been removed.

Does a Hungarian company benefit from double taxation treaties?
Hungary has signed double taxation treaties with more than 60 countries. Countries included are Australia, Singapore, India, France and the USA.

For more information on any of our Hungary corporate services, email email@healyconsultants.com or telephone us at (+65) 6735 0120.

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