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COST OF REGISTRATION OF A COMPANY IN HUNGARY

Jurisdiction	Terms of registration of the new company	Registration of a company without nominal service	Annual support of the company without nominal service (from year 2)	Accounting and reporting
Hungary (KFT)	Terms of registration of the new company 1 month	Registration of a company without nominal service 5 000€ This price includes: company registration, documents with apostille, company maintenance for 1 year, initial compliance check and KYC (Know Your Customer) procedure, registration address for 1 year, registration as a VAT payer, opening one account in a Hungarian bank (with support), delivery of documents . Additionally, services of a local manager are provided - from 3000 €. Separately, it is necessary to pay a deposit for accounting (€1,000), which is included in the last invoice for accounting.	Annual support of the company without nominal service (from year 2) 2 600€ This price includes: maintenance of the company for 1 year, registration address for 1 year, maintenance of the annual compliance check and annual KYC (Know Your Customer) procedure.	Accounting and reporting from 1 500€

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Photo 1 - Company registration in Hungary

About HUNGARY

Hungary – is a state in Central Europe, famed by thermal springs and the Lake Balaton.

The independence of Hungary was repeatedly attacked by the neighboring countries (Austria, USSR), but, in the end, the country asserted its right on independence. Hungary is the EU member since 2004, and opening a business in this jurisdiction has become even more attractive.

The state with stable economic and political conditions, beautiful nature and European standards of living may be a great place for starting business or even your second home.

ADVANTAGES OF OPENING A COMPANY IN HUNGARY:

the lowest profit tax rate in Europe- 9%;
there is no tax on dividends (it doesn't matter whether they are received or paid);
tax credits on income from certain types of intellectual property;
Hungary is not an offshore zone and is not included in the EU "black list";
the company is a tax resident of Hungary upon registration, regardless of the place of management;
automatic receipt of the Hungarian and European VAT numbers.

LEGISLATION

Company activity in Hungary is regulated by:

Commercial Companies Act 1997.

Types of companies

The legislator provides some corporate forms (partnerships, Limited Liability Company, public and private joint stock company etc), but the most preferable is the Limited Liability Company (Kft).

OPENING A COMPANY IN HUNGARY: REQUIREMENTS

LIMITED LIABILITY COMPANY (KFT):

The minimum authorized capital – 3 000 000 HUF (approximately 10 000 EUR). The authorized capital must be paid to the bank even before the foundation documents are submitted to the Companies House, or the director issues a certificate of the transfer of this amount to the company's cash desk (in this case, the authorized capital becomes accountable).
Shares - not issued. The authorized capital is divided into units.
Director - at least 1, individual or legal person, no residency required.
Members – at least 1, individual or legal person, no residency required. Director and shareholder may be the same person.
Secretary – not required, but if all members of the company are non-residents, it is recommended to appoint a local manager.
Publicly available information: information about members, directors and legal address.
Company is obliged to keep and submit an annual financial report, to be audited (if the turnover during the previous 2 years is on average more than 300 000 000 HUF (approximately 1 000 000 EUR)).
Registered office in Hungary is required.