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Hungary Company Incorporation and Administrative Support

Hungarian Limited Liability Company (KFT)

Hungarian business market is one of the most lucrative segments for foreign investment in entire Eastern Europe and Asian region. Companies can plan to establish their registered office, corporate office, branch office, etc. and varied types of company setups like holding company, financial institution, trading business, distribution center etc. The most common form of setting up a company in Hungary is the Limited Liability Company which can be incorporated with a minimum capital of HUF 3000000 (i.e. 9300 Euros). The company can be owned by a single owner or multiple individuals or legal entities depending on the business requirements. Most of the small to medium type of businesses choose LLC setup for establishing their company in European market. The form of LLC Company in Hungary which is also known as the KFT is the similar to the GmBH company structure in Germany and Austria, and British Limited Liability Company (LLC/LTD by shares) in the Britain.

Overview

Company Type

Limited Liability Company (KFT)

Currency

Hungarian Forint

Price

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Company Name

The primary step to incorporate the company in Hungary is choosing an unique name that is not similar to the companies registered already in the Hungarian market or deceptive in meaning. The name of the company should mandatorily end with the title of KFT or Korlátolt Felelősségű Társaság and it should be approved by the Registry.

Registered Address/Agent

In order to incorporate your company successfully in Hungary it is mandatory that you have a local registered office address and authorized agent. By choosing Abroadbiz, we will assist you with step-by-step process, provide registered office and resident agent in Hungary.

Shareholder

Single shareholder is sufficient for successful incorporation of the company and there is no restriction on the nationality or local residential address of the shareholders. Shareholders of the company can be individuals or entities depending on the business requirements

Timescale

The process of incorporating the company in Hungary takes 3-4 weeks after we have received the required documents and name of the company is approved

Accounting Requirements

As per the standard laws, it is mandatory for the companies established in Hungary to maintain the books of accounts and represent the operations of the company including the assets and financial position of the company.

Director

Single director is sufficient for the successful incorporation of the company in Hungary. There is no restriction on the nationality of the director or local residential address. The managing director of the company should be an individual. There is no restriction on the nationality of the MD as well.

Share Capital

The amount of minimum share capital i.e. HUF 3,000,000 for incorporating the company should be deposited in the bank account until the bank issues the payment certificate. The minimum amount of nominee value for each shareholder of the company can be minimum HUF 100000.

Identity Proof

The standard documents for the incorporation of the company is required for successful processing. Valid passport copy of the directors and shareholders should be submitted.

Travel

Personal visit to Hungary is not required for the incorporation process of the business.

Tax

Companies which fall under the resident companies category will be liable to pay 9% interest on their worldwide income as company’s income tax
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