Business registration in Hungary in 2021
Registering a business in Hungary in 2021 is a responsible step. Doing business in this country is relatively easy. Contact us at IT-OFFSHORE to clarify the nuances of creating a company or buying a ready-made company.
The advantages of opening a company
Buying a ready-made company in Hungary in 2021 is profitable, as a high level of business protection is provided. Good conditions for company growth and development are provided. The country is considered onshore and complies with both AML and KYC requirements.
Why it is worth opening a company in Hungary in 2021:
- The country has a positive reputation;
- The cost of the opening is relatively low;
- The country is stable politically and economically;
- It is possible to register a foreign company;
- It is relatively easy to open an account;
- The registration procedure does not take much time;
- The amount of taxes is small;
- It is possible to get a European VAT number;
- It is possible to obtain a residence permit.
It is possible to start a company from scratch or register a ready-made company. The second option is most relevant if there is no time to create a new company, you need to start as early as possible, and you need a company with a history of work.
How to open a company
The first step is the preparation of the name. It must be unique, written in Latin characters. After that, the structure of the business, as well as the size of the share capital, are determined.
Obligatory fees for the work of lawyers and notaries are required. It is necessary to prepare details of the directors, shareholders and attorneys. Copies of documents are translated into the official language of the country and notarized. Corporate documentation is also prepared. Registration in the tax office is done, and business is registered. Bank accounts are opened after the company is registered.
The structure must have at least one director - a natural person or a legal entity. There are no conditions regarding residency status. It is possible to hire a local director. Participants (shareholders) can be individuals or legal entities. The minimum authorized capital is about 10 000 USD. Real office and bank account in the country are required.
Nuances of opening a bank account
When opening an account in a bank in Hungary, it is recommended to pay attention to the reliability and prestige, the range of services, the smallest deposit size, and the convenience of remote service. The availability of programs for the investment and location of the financial institution are taken into account.
Providing information about the account managers is required. Original corporate data of the company is required. Depending on the bank chosen, recommendations from partners and information about counterparties may be additionally required. The largest and most popular institutions are CITIBANK, MKB, and OTP bank.