Bank Account
Update to banking in Hungary: Revolut has opened its Hungarian branch office and has been migrating the accounts of its Hungarian clients to Hungarian bank accounts. This offers better options to both retail and business clients. At the same time, your Hungarian company will still need a Hungarian corporate bank account for compliant operation.
The post Revolut accounts migrating to Hungarian bank accounts appeared first on Helpers Finance.
What to do when your Hungarian business operation has reached its end? You can sell your company if you find the right buyer, but normally, it is best to liquidate it. If it has no issues, that can simply be done by your accountant, although it takes some time. You could also simply abandon it, but that poses several risks.
The post How to finish your business operation in Hungary – All about liquidation appeared first on Company Formation.
If you own a Hungarian company, you cannot just withdraw cash from its business account and do with it what you want. The company is a separate legal entity, and its money is technically not your money anymore. Every cash withdrawal from a company needs to be justified and documented.
The post How to withdraw cash from your business account? appeared first on Helpers Finance.
If your Hungarian company does not comply with regulations, its tax number can get canceled and the company can be liquidated. However, this forced liquidation procedure can be stopped if you take steps to restore compliance.
The post How to stop forced liquidation at your Hungarian company appeared first on Helpers Finance.
Cash transactions in Hungary are limited only for B2B transactions; here the limit is HUF 1.5 million in any calendar month regarding each contract. There are no limits on B2C transactions, although they require additional paperwork above certain thresholds depending on the products sold. You will also need to set a limit for yourself regarding how much cash you may handle at your Hungarian business.
The post Limits on cash transactions at your Hungarian business appeared first on Helpers Finance.
At a Hungarian business, every money transaction needs to be documented. This is true not only for electronic or wire transactions, but also for cash transactions. If your business manages cash, you will need to have a petty cash log and appropriate documentation even if you do not have a regular cash register. Additionally, petty cash registers are often scrutinized during tax audits, so they must be up to date.
The post Petty cash and cash limitations in Hungary appeared first on Helpers Finance.
Once you set up your Hungarian company, you will be able to take care of most administrative tasks online. Hungarian administration is highly digitalized, making business operation more transparent. Read on to get familiar with the tools for online administration in Hungary.
The post Online administration for Hungarian companies appeared first on Company Formation.
When you operate a Hungarian company, you will have to pay business taxes in Hungary. While your accountant can calculate the taxes you need to pay, it is you (or one of your authorized employees) who will need to pay each tax to the Tax Authority.
The post How to pay your business taxes in Hungary? appeared first on Helpers Finance.
Transparency is a key value in the European Union. When you set up your Hungarian company and want to register for mandatory services, you are expected to present the ownership structure of the company in a transparent way.
The post Transparent presentation of the ownership structure of your Hungarian company appeared first on Company Formation.
The yellow check in Hungary is in fact a postal payment slip that lets people without a bank account complete payments. Learn how it works.
The post The “yellow check”: postal payment slips in Hungary appeared first on HELPERS.