Hungary Company Formation

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 (can be withdrawn after incorporation).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 hungary company formation
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.

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.

Our team of consultants are here to take you through the process.