Setting up a Hungarian Company

Setting up a company in Hungary is fast and uncomplicated. We will walk you through the process in detail in this post. For a bullet-point summary, click here.

Choose your options

When you get in touch with us, we send you our detailed information package about company formation. This way, you will have an overview of your options, and you can choose the one that is best suited for your situation. You can indicate your future company’s preferred name, size, area of operation, and other details, on our client registration form.

Fix the details

Once all details are agreed on, you will sign the service agreement. This document details all deliverables you ordered from us, as well as the timelines of performing those services. In addition, it details what kind of input and documents you will need to provide to keep the process running smoothly. You will also receive your invoice along with your service agreement.

Incorporate your company

Our lawyer will prepare all necessary documents for setting up your new Hungarian company. There are two ways you can sign the documents: in person or by Power of Attorney. If you would like to spend a few days in Budapest, you are welcome to sign the documents in person at the Helpers office. However, if you have a packed schedule and you need to minimize your time spent in Hungary, you can sign a Power of Attorney in you home country. Once we receive the Power of Attorney, the entrusted person can sign the documents on your behalf.

In both cases, your new Hungarian company with immediate VAT number is ready in 4-5 business days.

Open your company bank account

Once your company is set up, you have 8 business days to open at least one Hungarian bank account. Hungarian law requires that the CEO must do this in person. Therefore, you will be required to spend at least one business day in Budapest. Naturally, we will give you an overview of the available options so you can choose the right bank for your Hungarian company. Plus, we will provide you with a competent English-speaking assistant to accompany you to the bank.

Find an accountant

Hungarian law mandates that all companies must have an accountant. This is required even if the company does not have any activity. We will put you in touch with our team of experienced accounting professionals. Since they all speak English, you will be able to communicate with them directly.

And that’s it! Your new Hungarian company will be up and running in no time. Now, if, down the line, you need administrative assistance, a boost in marketing or a property to buy, you can keep counting on us.

Last Updated 28.11.2019

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