Hungary Company Formation
- Fantastic jurisdiction and highly regarded reputation.
- Time of Hungary company formation takes 10-15 DAYS.
- Personal presence is required.
- Company type:
- Hungary Limited Liability (KFT) or
- Hungary Joint Stock (RT).
Tax Rates in Hungary
Corporation Tax in Hungary: 9%
Income Tax in Hungary: 33.5% Employee expenses altogether of gross salary without children: 15% Income Tax (flat), Social Security: 10% Pension, 3% in cash + 4% in kind Health Care, 1.5% Labor Market contributions
Employer: 19.5% Social Tax, 1.5% Labour Contribution of the monthly gross salary
VAT Tax in Hungary: 27% (Reduced rates 18% and 5%)
About Hungary
Capital: Budapest
Region: Country in Central Europe
Language: Hungarian language
Currency: Hungarian forint (HUF)
Time Zone: GMT+1
Dial Code: +36
Abbreviations: HU
What we can do for your Company in Hungary
- We do all paperwork on forming the company in Hungary
- Formation is completely remote
- Can act as Secretary or Treasury
- Provide nominee Directors/Shareholders
- Assist with opening a bank account
- Registration for Taxes, VAT & EORI
- Develop a website for your business
- Create a logo of your brand
- Provide with full company administration services
- Arrange a mailing address for your business
- Arrange a virtual office for your company
- Telephone answering service
- Book keeping, audit & reporting
- Preparing and submitting VAT return
- Dealing with local authority
- Trademark registration
Hungary company Formation. Hungary Limited Liability Company
Main Characteristics and the basic rules of Company registration in Hungary
| Hungary Company Formation | Financial Advantages |
|---|---|
| Taxation: | Yes 9% taxes, non-resident only pay tax on income from Hungary |
| Double Taxation Treaty Access: | Yes Treaty Access with many countries |
| Hungary Tax Information Exchange Agreements: | Yes, Hungary signs Exchange Agreements |
| Account Filing Requirements: | Yes accounting / reporting requirements |
| Annual Return Filing Requirements: | No annual return/ reporting requirements |
| Audit Requirements: | Yes audit required |
| Hungary Company Formation | Registration Requirements |
|---|---|
| Share Capital: | Standard authorised share capital: 500.000 HUF by Ltd. Minimum paid up share capital: 500.000 HUF by Ltd. (can be withdrawn after incorporation). |
| Classes of Share Available for Hungary company formation: | Registered shares |
| Bearer Shares: | Not Allowed |
| Registered Office Required: | Yes, required and must be maintained in Hungary |
| Shareholders: | Minimum number is one |
| Directors: | Minimum number is one. Can be any nationality and need not be resident in Hungary. |
| Your Company language: | English |
| Name of your Company must be ended: | Ltd, Limited |
| Documents required for Hungary company formation: | A certified copy of your passport or ID and proof of your residential address dated less than 3 months. |
| Hungary Company Formation | Restrictions |
|---|---|
| For Hungary company formation you cannot use words in your company names without justification: | “Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc. |
| Restrictions on Trading: | Gibraltar “Non-Resident Controlled” companies are not permitted to trade within Gibraltar or to have Gibraltar-source income, if they wish to avoid being treated as taxable in Gibraltar |
| Not permitted without a licence: | Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision. |
| Hungary Company Formation | Confidentiality and Security |
|---|---|
| Publicly Accessible Records: | Yes public register of company officers (Directors, Shareholders, Secretary) |
| Nominee Shareholders and Nominee Directors: | Yes, Allowed |
| Disclosure of Beneficial Ownership to Authorities: | No |
| Meetings of Directors and Shareholders to be held: | Anywhere |
| Stability: | Fantastic jurisdiction and highly regarded reputation. |
| About Hungary |  |
|---|---|
| Capital city: | Budapest |
| Region: | Country in Central Europ |
| Political System: | Parliamentary Democracy |
| Government: | Parliamentary Republic |
| Governing corporate legislation: | Hungarian Income and Corporation Tax Act 2006 |
| Type of Law: | Civil |
| Currency: | Hungarian forint (HUF) |
| Exchange Control: | None. |
| Language of Legislation and Corporate Documents: | Hungarian language |
| Time Zone: | GMT+1. |
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This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.
