Business Tips

How to Form a Company in Hungary

If you’re thinking of starting a business in Hungary, this article will help you to set up a company quickly and easily.

How to form a company in Hungary?

To form a company in Hungary, you need to submit the following documents:

  • registration form with the personal information of all founders (full name and address). If you want to open a Hungarian branch office or subsidiary of an existing foreign company, you must also provide information about this legal entity;
  • proof of residence;
  • proof of identity (ID card or passport);
  • statement regarding ownership rights over registered property;

Step 1. Selection of the company name

The first step is to choose a name for your company. You can check the availability of this name at the commercial register office by entering it into their search field or by calling them and asking them to do so.

The basic requirements for forming an LLC include: registering capital contribution; issuing shares; appointing directors who will represent the company in legal matters; drafting articles of association/memorandum/bylaws etc.; preparing documents required by law.

Step 2. Establishment of the company

Before you can form a company in Hungary, you will need to check if the name of your proposed company is available.

Once you are sure that there are no legal issues with using this name as your business name, go ahead and register it with the Hungarian Chamber of Commerce by submitting an Establishment Application Form along with all necessary supporting documents.

Step 3. Contract registration with the commercial register office

The next step is to sign the contract and submit it to the commercial register office. After this process, your company will be registered and you can start doing business!

Step 4. Tax registration

The fourth step is tax registration. The procedure involves submitting the following documents:

  • Taxpayer identification number application form (form No. 1)
  • Company registration certificate or extract from the Commercial Registry (if available)
  • Proof of payment of state fee (if applicable)

Step 5. Opening a business bank account

You’ve done the hard work of setting up your business, now it’s time to get started on the fun stuff!

In order for your company to operate legally in Hungary, you must open a bank account. Skipping this step could result in fines and other legal consequences.

There are dozens of banks available throughout Budapest and its suburbs; however, not all banks offer the same services or fees. Researching these factors is crucial before deciding where to open your new business bank account.

Be sure to ask about the bank’s fees, interest rates and penalties before signing any contracts. If you plan to open a business in Hungary, be sure to contact the American Chamber of Commerce in Budapest. They offer an extensive list of resources and contacts that can help you get started on the right track.

If you want to set up a Hungarian company, this article will help you to do it quickly and easily

Budapest

If you want to set up a Hungarian company, this article will help you to do it quickly and easily.

  • First of all, make sure that the name of your future enterprise has not already been registered by someone else.
  • If there are no problems with the name and address of your company headquarters (or any other information), then it’s time for step two: getting all necessary documents together before submitting them at one of Hungary’s state offices responsible for business registrations–usually located in larger towns such as Budapest or Debrecen but sometimes also smaller places like Szeged or Gyor

Conclusion

I am sure that after reading this article, you will be able to set up your own company in Hungary. The process is not difficult at all and can be done within a few days. If you have any questions or need any help with setting up your business, please contact us!

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