Gurcan Partners
Anvi Staff answered 2 years ago
Company registration is necessary in Hungary if you want to legally establish a business. Any individual or group of individuals wishing to conduct business in Hungary must register their company with the competent court of registration and obtain a tax number.
Without proper registration, your business will not have legal standing and may face penalties or fines.
Furthermore, proper registration ensures that your business complies with legal and tax requirements and is able to operate effectively and securely in Hungary. Therefore, it is important to follow the required procedure and complete the registration process before starting your business operations in Hungary.
The procedure for company registration in Hungary can vary depending on the type of company you wish to set up.
Here are the steps to follow for a limited liability company (LLC):
Choose a name for your company: The name should be unique and not already taken by another company. You can check the availability of your desired name on the website of the Hungarian Ministry of Justice.
Prepare the necessary documents: You will need to prepare the articles of association, which should include the name and registered address of the company, the names of the founders, the amount of share capital, and the distribution of profits and losses.
Deposit share capital: The minimum share capital required for an LLC is HUF 3 million (approximately $10,000). You will need to deposit this amount into a bank account.
Register with the court of registration: You will need to register your company with the competent court of registration. You can do this online or in person. You will need to provide the articles of association, proof of the deposited share capital, and the names and personal identification numbers of the founders.
Obtain a tax number: Once your company is registered, you will need to obtain a tax number from the Hungarian Tax Authority.
Register with the trade registry: Finally, you will need to register your company with the Hungarian Trade Registry using the Company Registration System or through the Hungarian eGovernment Gateway. You will need to provide the company name, registered address, tax number, and details of the founders.
The whole process can take between two to four weeks to complete.