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enfold_admin2025-03-29 18:10:582025-03-29 18:10:58Buy a ready made company in Hungary? Cost of buying a ready made company in HungaryCompany incorporation in Hungary: key steps, requirements, business types, and benefits
Requirements for Hungary company incorporation Before proceeding with company incorporation Hungary, businesses must meet specific legal and administrative requirements. These include:
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Registered office: A company must have a legal address in Hungary where official correspondence can be received.
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Company name: The chosen business name must be unique and approved by the Hungarian authorities.
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Share capital: Depending on the company type, a minimum capital requirement must be met. For example, an LLC (Kft.) requires a minimum capital of HUF 3,000,000.
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Company structure: At least one director and one shareholder are required, and they can be foreign individuals or entities.
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Legal representation: A Hungarian lawyer must draft and submit the incorporation documents.
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Tax registration: Companies must register for a tax number with the Hungarian tax authorities.
Step-by-step process of company incorporation in Hungary
The process of business incorporation Hungary involves several steps, ensuring legal compliance and efficient registration.
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Choosing the company type: Select the most suitable business entity based on capital, liability, and operational needs.
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Preparing documents: Preparation of the founding documents, including the Articles of Association.
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Registering the company: Submit the application to the Hungarian Company Registry.
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Obtaining a tax number: After registration, businesses must obtain a tax number from the National Tax Authority.
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Opening a bank account: A corporate bank account in Hungary is necessary for business transactions and capital deposit.
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Registering for VAT and social security: If applicable, VAT number registration in Hungary is required, along with employer registration for social security contributions.
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Starting operations: Once registration is complete, the company can legally conduct business in Hungary.
Incorporate a company in Hungary: Types of business entities available for incorporation
There are several types of companies available for incorporation, each catering to different business needs:
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Limited Liability Company (Kft.): The most popular choice, requiring a minimum capital of HUF 3,000,000, with limited liability for shareholders.
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Joint Stock Company (Zrt. or Nyrt.): Suitable for larger enterprises, requiring a higher capital investment.
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Sole Proprietorship: A simple structure for individuals, but with unlimited personal liability.
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Branch Office: A foreign company can establish a branch office in Hungary without forming a separate legal entity.
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Representative Office: Suitable for market research and promotional activities but not for direct business transactions.
Tax benefits for incorporate in Hungary
Hungary offers several tax incentives that make it an attractive destination for business incorporation:
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Corporate tax: One of the lowest in the EU, at a flat rate of 9%.
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Tax relief for R&D activities: Businesses involved in research and development can benefit from tax deductions.
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Double taxation treaties: Hungary has agreements with numerous countries to prevent double taxation for international businesses.
For entrepreneurs considering company formation Hungary, the process is streamlined and offers numerous financial advantages. Whether starting a business in Hungary as a small venture or expanding a multinational corporation, the country provides a supportive environment. If you are interested in opening a business in Hungary, consulting with a local business expert can simplify the process. Overall, opening a company in Hungary is an excellent choice for businesses looking for a cost-effective and strategic European location.
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