Hungary is a landlocked country in Central Europe whose geography is defined by the River Danube and the River Tisza. The Hungarian language is quite unique having 14 vowels. Being one of the Uralic languages, it is quite distinct from the Slavic languages spoken in its neighbouring countries. The language is also quite complex in that it has 18 grammatical cases compared to 4 in German and 6 in various Slavic languages.
Following the collapse of the Soviet Union, Hungary has successfully undergone a transition from a planned economy to a market economy, which is now ranked as the 9th most complex in the world, with an emphasis on exports and foreign trade placing Hungary as the 35th largest export economy in the world. Hungary is the largest producer of electronics in Central and Eastern Europe.
Currency: Forint (HUF)
|Year 2 onwards
|Accounting Data Address
|Director and Nominee Service
|Estimated renewal costs in year two: £1,450.00
Details of a Private company limited by shares (Zrt.) in Hungary:
- No Minimum paid-up Share Capital Requirement – The Minimum Capital itself is HUF 3 million.
- For foreign officers to incorporate remotely – a Power of Attorney is required to be signed, notarised and legalised in the country of residence.
- Accounts are required to be maintained and filed – Please note that monthly returns are required to be filed with the authorities. Following formation we will be in touch to discuss the accounting requirements and costs.
Requirements to Form an Offshore Company in Hungary
In order to incorporate your Hungarian Company, these are the steps that must be followed;
- Place your order – You need to use a Company Formation Agent to submit the necessary documentation to the Registry on your behalf. Payment needs to be made to the Registry on submission of the registration documents so our fee must be paid when the order is placed.
- Meet the Anti Money Laundering Requirements – In order to meet Anti Money Laundering Requirements we need to obtain a certified copy of the passport and current utility bill of each of the owners and shareholders. This is required even if you are using our Nominee Service.
- Documents are issued to you – Once the Registry has incorporated the company, we will issue you with the Certificate of Incorporation, Memorandum & Articles, Shareholder Certificates and all other company documents as required by Law. These documents can then be used to open a bank account for the company.
Please note that information given on this page is subject to change at any time without notice as a consequence of changes made in local legislation.
A member of the banking team will be able to advise on the most suitable offshore bank account.
Hungarian Companies have to be renewed on the anniversary of the incorporation every year – All jurisdictions have different requirements for renewing the incorporation. We will automatically send you an invoice when your renewal is due.