There are several forms of business that are common in Hungary. Most often, entrepreneurs choose:
- Closed companies with limited liability – it is permissible to trust the management of a single person, open sale of securities is prohibited, half of the capital must be paid at the start of activities, the cost of non-monetary assets must be assessed by a local expert;
- Partnerships with limited liability – there are no requirements for the amount of capital (distributed equally among the participants), there must be at least two founders, the transfer of shares is possible only after the decision of the meeting;
- Partnerships with unlimited liability – capital is distributed among equal founders (there can be two or more of them), there are no restrictions on its size;
- OJSC with limited liability – at the time of opening, a third of the capital must be paid, the number of shareholders is not limited, only individuals can be directors.
- Prestigious European jurisdiction;
- One of the lowest income taxes in Europe – 9%;
- The jurisdictions of the company and the bank are the same;
- VAT-number is assigned immediately upon registration of the company;
- Possibility to obtain a residence permit;
- No withholding tax when paying dividends to non-resident legal entities;
- A simple and inexpensive procedure for obtaining permission to conduct activities related to an adult topic.
Income tax in Hungary is 9%. Dividends received by a Hungarian company are usually exempt from income tax. VAT – 27%.
An important difference in Hungary is the impossibility of adding co-founders to an existing company or acquiring a ready-made and operating organization.
The initial share capital is not required.
Services and prices
Registration of a company
The cost of registering a company is 2400 EUR.
- Submission of documents for remote registration of a company;
- Payment of mandatory state fees;
- Legal address for one year.
- The price does not include consular legalization of documents or remote identification for signing documents.
Accounting services are charged based on the number of transactions per month. If it does not exceed 25, the cost will be 180 EUR / month. Mandatory reporting is paid separately, its cost is calculated based on the number of transactions and turnover per year. On average, the cost of an annual report is 180 EUR.
The largest commercial bank in Hungary, occupies 25.6% of the Hungarian national market with assets of 10,978,359 million Hungarian Forints (HUF). OTP Bank ranks 952 in the Forbes Global 2000 list of the world’s largest public companies for 2018 with revenues of $ 4 billion, net profit of $ 1 billion (788th place), assets of $ 51.1 billion (586) and a market capitalization of US $ 10.9 billion.
- The coincidence of the country of registration and the bank;
- Large retail bank with a good reputation;
- Works with all jurisdictions, except for countries and territories from the “black list”;
- Russian speaking staff;
- Multi-currency accounts (EUR, USD, CHF, GBP, SEK, CAD, JPY, BGN).
- Personal presence is required when opening a bank account;
- To open an account you need: Certificate of Good Standing and Certificate of Incumbency;
- The bank does not work with nominee services;
- Accounts are opened for European companies.
AO API Bank Belgrade was formed as a result of the sale of the bank AO VTB Bank Belgrade to Russian investors in July 2018. Digital banking and the use of the latest financial technologies are fundamental elements of the bank’s development strategy. API Bank will provide its customers with secure and easy-to-use digital solutions.
- The term for opening an account is 4-6 weeks from the date of sending the documents for consideration;
- Online Bank;
- No requirement to maintain a minimum balance;
- Working with many currencies: EUR, RUR and others;
- Democratic compliance;
- There is a personal manager;
- Representative offices in Moscow, Kiev and Belgrade.
- Real meeting with the beneficiary.
Make a request, the manager of Tailor-Made Solutions will contact you within one working day and consult you on any questions
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