Setting up a company in Hungary

Hungary is a Central European country very open to foreign investment. With a population of almost 10 million inhabitants and an area of ​​around 90 thousand square kilometers, its currency is the Hungarian Forint (HUF), of considerably less value than the Euro (1 EUR = 349.68 HUF).

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Setting up a company in Hungary takes only a few days and its registration in the intra-community VAT register is carried out immediately. In fact, Hungary is one of the few countries in the European Union where this process remains automatic. This, together with a corporate tax of only 9%, makes Hungary an ideal destination for companies, investors and non-EU citizens who want to establish a base of operations in Europe in a comfortable and economic way.

There is the possibility of creating a company with 100% foreign capital in Hungary, and the partners can be both natural and legal persons.

Why Hungary?

• Quick and easy business creation: your company will be up and running in 4-5 business days
• Low corporation tax: being only 9% it is one of the lowest in Europe.
• Tax identification number for immediate intra-community VAT purposes: no waiting or additional requirements
• Low start-up capital that no deposit is required
• Profitability of the establishment and maintenance of the company
• Central location in the EU with good infrastructure
• Ease of obtaining visas and residence permits for citizens of all nationalities

Procedures for the Constitution of a Company

In order to set up a Limited Liability setting up a company in Hungary, you must apply to be registered with the Hungarian company court, and the necessary representation through a professional, a lawyer.

At that time of application for registration of the company, it is required to have contributed at least half of the minimum share capital, which is 3,000,000 HUF, in cash or in kind. The other half must be contributed one year later. Definitively the social capital will not suppose our ruin.

The administrator (s) can be a foreigner, and without any permission if he is a national of an EU member state. The administrator must make a series of declarations: acceptance of the position, that there is no conflict of interest, declaration that monetary contributions are available to the company and contribution from his firm.