Want to set up a firm in Hungary? We can assist you in starting a business or in buying a shelf company in Hungary with a full package of necessary documents, legal advice and follow-up support. Incorporation of a firm in Hungary includes provision of a registered office (for at least 1 year in any of our service plans), an apostilled set of constitutional documents, secretarial services and assistance with compliance fee and pre-approval for opening an account in banks of Hungary. The total price of company formation in Hungary includes all necessary fees and charges for the first year of operation, as well as full one-year nominee service (package Optimum).
Hungary is a civil law jurisdiction. The main sources of law are the Constitution, the acts of Parliament, and the governmental, ministerial and municipal decrees. Since Hungary’s accession to the European Union on 1 May 2004, European laws also form part of the Hungarian legal system.
The principal forms of business organization in Hungary are:
The most common structure is the limited liability company.
There is a range of requirements to the company name in Hungary:
The following steps are required to incorporate a Limited liability company in Hungary:
The formation of a new company in Hungary takes from 2 to 15 days.
As a rule, a Hungarian Limited Liability Company must have a registered office in Hungary. Register of shares, minutes of meetings and accounts should be kept at the registered office.
There are no statutory requirements for a company in Hungary to have a seal.
The redomiciliation of companies to or from Hungary is permitted.
A Hungarian limited liability company should at least have one director. Directors can be either natural persons or corporate bodies. There are no requirements to the nationality of directors.
Directors’ meetings should be held at least once a year to approve the annual report of the company.
The names of directors appear in public records.
Hungarian limited liability companies are not required to appoint a company secretary.
Each Hungarian company must have at least one shareholder. There is no restriction on the nationality or residency of the shareholders. The shareholders can be individuals and/or legal persons.
Shareholders’ meetings must be held at least once a year, there are no requirements as to place of holding of the meeting.
The names of shareholders appear on public records.
The law introducing the Beneficiary Registry came into force in Hungary in June 2017. The deadline for its entry into force was set as January 1, 2019. However, 20 months later, the registry has still not appeared, and no separate website has been created for it. The Hungarian government claims that there is currently no definite date for the entry into force of the register of beneficiaries and it is impossible to predict that date at this time.
However, there is a list of necessary information about the beneficiary that must be included in the registry in the future: Full name, date and place of birth, citizenship, postal address, the basis for recognizing the person as the beneficiary, indicating his share in the company, the affiliation of the beneficiary to politically exposed persons.
It is worth noting that access to information from the register of beneficiaries on a par with the tax authorities will also have anti-terrorist organizations and state security services.
Minimal amount of the authorized share capital of a Hungarian limited company is HUF 3,000,000. Within the incorporation procedure each member must deposit his contribution – 50% of monetary assets. The other 50% of monetary assets must be paid within 1 year from the date of incorporation of the company. If there is only one founder in the company, min. HUF 100,000 must be paid within the incorporation procedure.
Shares are not issued. Share of each member is recorded in the deed of foundation or articles of association. Standard par value of shares is 10000 HUF.
Third parties can request the following information on Hungarian companies:
All documents filed to the Registrar including deed of foundation or articles of association are available to public inspection.
Price4 680 EUR
including incorporation tax, state registry fee, including Compliance fee
Stamp Duty and Registration Court incorporation fee
Pricefrom 3 300 EUR
including registered address and registered agent, NOT including Compliance fee
DHL or TNT, at cost of a Courier Service
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Pricefrom 5 500 EUR
Paid-up “nominee director” set includes the following documents
Compliance fee is payable in the cases of: renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of director / shareholder / BO (except the change to a nominee director / shareholder)
simple company structure with only 1 physical person
additional compliance fee for legal entity in structure under GSL administration (per 1 entity)
additional compliance fee for legal entity in structure NOT under GSL administration (per 1 entity)