Opening a company in Hungary
Any person without a legal status or residence permit in Europe is authorized to register his business in Hungary (LTD, General Partnership or other legal entity). On the other hand, having a legal business in Hungary will allow you to apply for residence permit for the whole family and dependant relatives. The status of permanent residence in Hungary can be ensured for the whole family in 3 years.
In some EU countries it is required that one of the cofounders of the company was a citizen of the country. There is also a common law in some countries, conserning the permission to open your business in Europe, which requires that the foreighner owned company would provide jobs to the EU citizens. In Hungary at the moment there are no restrictive laws for registration of legal business.
You can open a company in Hungary through the consulate at your place of residence, where the applicant signs the contract and pays for the certification of the signatures of lawyer-trained documents. The lawyer in this case works on a full prepayment, which is 1000 Euro. You can also come to Budapest personally to our central office, in which case payment is made on the day of signing the documents.
After the layer have successfully applied for court's permission to open the company and received a Decision (1-2 weeks), the director of the company is required to open a bank account in Hungarian currency (Forint). The service of opening a bank account for a legal entity is included in the cost of opening a company.
In 2016, the state tax for the company registration has been canceled, but there are some additional costs for operating your business in Hungary:
- Provision of legal address: 500 Euro / year
- accounting: around 50 Euro / month
Another great news is that there is no need to enshure the authorised capital of 3,000,000 forints (10,000 euros). You do not have to deposit the registered or nominated capital in your bank account, it is enough to sign a statement with the lawyer we provide that the shared capital is provided.
Sole entrepreneur
There is also another possibility to operate your small business in Hungary. You can get yourself registered as independent entrepreneur or a sole proprietorship.
Choosing this form of legal entity, you will be paying a fixed state tax of 50 000 Forint (160 Euro) in case your profit does not exceed the amount of 8 000 000 Ft (25 000 Euro) a year.
Having this status will allow you to apply for residence permit and long-term working visa, as well as provide you with a governmental health insurance (TAJ card).
