Business Hungary

Business Solutions and Support

Business Registration

Our professional Legal team will assist you in establishing your business, and will provide you with ongoing legal services throughout your journey.

Accounting Service

Our English speaking accounting partner will handle all your accounting and TAX needs. They provide a professional service at reasonable prices.

localisation

We provide all the services to make your business a success. Services such as Recruitment, Real-Estate, Procurement, Translation Services and any other requirements you may have.

Immigration

Our Immigration experts will assist you in navigating your journey through the immigration process, need it be for yourself, your business partners, or even your family.

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BUSINESS HUNGARY

Business Registration

Our professional Legal team will assist you in establishing your business, and will provide you with ongoing legal services throughout your journey.

Accounting Service

Our English speaking accounting partner will handle all your accounting and TAX needs. They provide a professional service at reasonable prices.

localisation

We provide all the services to make your business a success. Services such as Recruitment, Real-Estate, Procurement, Translation Services and any other requirements you may have.

Immigration

Our Immigration experts will assist you in navigating your journey through the immigration process, need it be for yourself, your business partners, or even your family.

Your turn-key solutions provider for setting up, and managing your business interests in Hungary

An ideal place to start your business.

Location

Hungary is situated in Central Europe, and is a member of the European Union.

Government

Since 1990, the Republic of Hungary has been based on a political system of Parliamentary democracy.

Service Sector

Services, especially economic services, represent a sizable portion of the country’s export. The transportation sector offers optimum conditions for transit traffic due to Hungary’s favorable geographical location.

Climate

Summers are generally warm and sunny but for a few weeks, it can climb to 35–38°C. Winters are cold with temperatures in the -10–0°C range.

Language

Hungarians speak Hungarian, which has more in common with Finnish and Estonian than the Indo-European languages spoken by neighboring countries.

Capital

Budapest is cited as one of the most beautiful cities in Europe ranked as "the world's second best city" by Condé Nast Traveler, and "Europe's 7th most idyllic place to live" by Forbes.

Frequently asked questions

The actual registration process takes 2-3 days at the applicable court. The application can only be made by a registered attorney. The process leading up to the registration (gathering the required information, drafting, signing, all the legal documents, as well as other statutory registrations, like directors tax registration etc) is dependent on your case, as well as how quickly you respond to instructions received. Overall the entire process should not take longer than 1 month.

Initially all documentation and requirements can be done online, and via electronic means through our service. There are however certain documents, and duties which will ultimately require you, or a director of the business, to appear in person. Such duties will include opening a bank account, at a bank of your choice.

Business entities are required to have a serviceable address under Hungarian Law. The Latin term for such an address is “Domicilium citandi et executandi”. Such an address is called a “Szék Hely” in Hungarian. This is an address where official documents can be sent to the business, as well as other mail. It is important that such an address is serviced, as replies to official letters should generally be made within 7 – 10 days. We offer a “Szék Hely” service to our clients, with various levels, which will eliminate the requirement to purchase, or rent a physical office. It is important to know that a secondary work address is also permitted in Hungary, this is commonly referred to as a “Telep Hely”. A Telep Hely refers to the place where the “actual” work is conducted, such as your factory, your home office, or any other associated work address. This address need not to be registered together with the business.
Due to certain skills shortages in Hungary, it can become a daunting task to find the right staff. Should you require assistance with locating staff or employees for your business, we are able to facilitate all your recruiting needs. Over and above traditional recruiting, we offer contract staffing solutions at an hourly rate, as well as virtual office solutions.

Any bank account, need it be a personal, or business bank account, needs to be done in person by the individual with the right of opening such an account, i.e. the Managing Director of a business. There are firms whom advertise that this can be done remotely, yet we strongly disencourage this, as this is against local banking laws. Once your business has been opened, we are able to assist you with choosing a bank, and providing you with the required process, and documents you will need to open such an account.

According to Hungarian Law, once a Limited Liability Company has been formed, the shareholders are required to deposit a start-up capital of 3,000,000 Hungarian Forints into the business bank account within one week of final registration. This equates to roughly EUR9400 or USD10,700. This start-up capital can be used by the business for operational expenses, and other business expenses. Should you not be able to travel to Hungary to open the business bank accounts, in time to have the start up capital paid, we can provide an Escrow service, where as such a capital is deposited into our legal trust account for reporting purposes, and stored for safe keeping until you are able to open such a business bank account, where after this money will be transferred into such an account.

There is no law which prescribe that any business need to be represented by a Hungarian citizen, or foreign resident. We however strongly recommend that such an appointment be made, should you decide that you do not wish to relocate to Hungary in order to fulfill such responsibilities. The reasoning behind this recommendation is that there are some statutory requirements related to documentation, and duties of directors which can only be fulfilled by a person holding citizenship, or residence, and a local address card. We offer a service where as one of our representatives can be appointed as proxy in order to fulfill such obligations on your behalf.

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