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Company in Hungary, Business in Hungary

Each EU citizen can stay in Hungary without permit for less than three months. Business activity carried out by natural persons should be registered in the local municipalities (Onkormanyzati Okmany Iroda).

A limited liability company can be set up by one person, but it must be emphasized by registration. Minimal start up capital is 3 million Forints. One has to pay at least 30% of this sum on the account (at least 1 million Forints). In case of one-person ltd. the whole sum must be paid in. The minimal start up capital of plc. is 20 million Forints.

A company should be enlisted in the Hungarian Trade Register. Register is kept by special departments of courts. In case one wants to start activity in sectors requiring a permit (energy, weapon), there is necessity to obtain those permits before company’s registration. Documents obligatory for opening a company are Company’s Articles of Association and Bank Account Certificate. The bank account is blocked until company’s documents are registered in court. After visit in court, one has to turn to the Statistical Office (KSHO) to obtain a statistical number. Next, one goes to Inland Revenue (and applies for TAX ID number called “ APEH”) and to Social Security Institution (to get “TBK” number). Court’s fee for registration is 2% of stock capital. Cost of publication in Official Monitor is 20 thousands Forints.

Costs of establishment depend on the legal form of the company. The most expensive is plc. – 600 000 Forints, other legal persons – 100 000 Forints. Activity without legal rights costs ca. 50 000 Forints. Sole traders must pay 30 000 Forints.


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