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Hungary Company Formation

HUNGARY

Type of Entity: Limited Liability Company (KFT)
Type of law: Civil code of Hungary (Act V of 2013)
Shelf company availability: Yes
Incorporation time frame: 4 - 5 business days
Minimum Government fees: HUF 100,000 ( EUR 275)
Regular Corporate Income Tax: 9%
Double Tax Treaty access: Yes
Minimum issued share capital HUF 3 million (EUR 8,000)
Minimum paid up share capital on incorporation: 30%
Minimum number of Shareholders required: One
Bearer Shares Not permitted
Nominee Shareholders Permitted Yes
Minimum number of directors One
Corporate directors permitted Yes
Local directors required No
Local meeting required No (they can hold meetings informally at their convenienc)
Company secretary required Not applicable
General Meetings of Shareholders Yes, once a year each year
Local Registered office required Yes (The place of central administration of a corporate entity may be located outside of Hungary)
Exchange Control: Not existing
Disclosure of beneficial owner to Company Registrar Yes (must be an individual not a legal entity)
Government register of directors Yes (All information regarding the directors will appear in the companies register kept by the Hungarian court of registry)
Annual return Yes
Submission of accounts Yes (Companies must prepare, submit and publish annual financial statements until the last day of the 5th month following the end of the tax year)
Audit Yes (The auditor must comply with all qualification requirements determined by Hungarian laws.)
Change of domicile permited Yes, it is permitted

We do our best to monitor the compliance of this jurisdiction with the latest international regulations set by OECD and other international institutions and countries.

At any moment, Damalion may decline any customer demand about this jurisdiction, at its sole discretion and without any obligation to provide any reason.

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