Company formation
SERVICE OVERVIEW
Our company formation service includes the company registration, VAT number, chamber of commerce membership, company registration tax, and assistance with the bank account opening.
At every company formation, start-up accountancy is also obligatory where initial reports are submitted to the tax authority; of course, we include that as well. In case all documents are available, the whole company formation can be done within 3 working days!
There are various ways of starting your own business. It all depends on what you want to achieve and what kinds of resources you have. If you want to start operating a business in Hungary, setting up a limited liability company might be the swiftest way. The procedure takes only a few days, and you can start your activity instantly. You also automatically get an EU VAT number, meaning you can start trading in the EU immediately.
For more information on company formation in Hungary, please check out the details HERE!
Yes, you can set up the company through an Apostilled Power of Attorney – just send us the authorisation and we can take care of the rest. However, your presence is required for opening a company bank account, which has to be done within 8 days of registration. If you schedule a 4-day long business trip, you can get all the initial paperwork done during one single visit.
There is no obligation to deposit the share capital in the bank, and 100% of this capital can be spent immediately after incorporation on company-related expenses. The amount of the share capital is HUF 3 000 000 (ca. EUR 10,000) for a Hungarian LLC.
For example, the start-up costs of the company formation and all related services (e.g. accounting services, registered office, or a resident permit application for the director) can be deducted from the share capital, so in case of a tax audit (which is common for foreign owned companies in the first few months) the authorities will not question the whereabouts of the funds. Alternatively, if the share capital is not spent by the time of the audit (on start-up expenses or other deductibles such as wages or office/ material costs), you may have to present this amount in cash/ on the bank account.
The registered seat of your Hungarian company is an official address where authorities expect to reach your company. This address is part of your company’s basic data, and changing it takes a few weeks and costs considerable legal fees. As a result, it is best to have your registered seat with a virtual office provider, where competent personnel can immediately forward mail to you or your accountant, this way ensuring that you never miss an official deadline.
