Hungary

The Hungarian limited liability company is "Korlátolt Felelősségű Társaság", abbreviated KFT, with a minimum initial capital of 3,000,000 forint.

 There is no need to deposit this amount into bank account, however, each company must have bank account in Hungarian bank, for example for tax purposes.

The director of the company should be a person who has reached the age of 18, citizenship does not matter. Director is not required to present a criminal record certificate.

The director bears full responsibility for the company.

At least one shareholder and one director is required. It can be the same person.

The process of establishing company takes about 2 weeks. Ready made company acquisition takes about 2-4 weeks.

Opening a bank account in Hungary requires a personal presence. Our ready-made companies already have a bank account. You can get access to the account after personal visit in bank. The accounting of Hungarian companies is related to local law (eg VAT returns must be submitted on monthly basis . We also offer accounting services, as well as running a virtual office based in Budapest

Taxes:

• Corporate income tax – 10%
• VAT – 27%
• Personal income tax (employees) – 16%
• Withholding tax on dividends - 0% legal entities, 15% natural person
• Corporate income tax only 9%