Registering a company in Hungary is a manageable process that can be completed by following the outlined steps in this guide. By selecting the appropriate company structure, choosing a unique name, preparing the necessary documents, and completing the required registration steps, you can establish your business in Hungary and take advantage of the various business opportunities available. Keep in mind that it is essential to consult with a local attorney or the Company Court to
ensure compliance with all local regulations and requirements. With proper planning and guidance, you can successfully launch your business venture in Hungary. As you navigate the registration process, it is crucial to stay up to date with any changes to local laws and regulations that may impact your business. By adhering to these guidelines and maintaining ongoing compliance with Hungarian laws, you can position your company for success in this dynamic and growing market.
Step 1: Choose a Company Structure
The first step in registering a company in Hungary is to decide on the company structure that best suits your business needs. The main types of companies in Hungary are:
- Sole Proprietorship
- Limited Liability Company (Kft)
- Joint-Stock Company (Nyrt)
For detailed information on each company structure, visit the Hungarian Chamber of Commerce and Industry website: https://mkik.hu/
Step 2: Select a Company Name
Choose a unique company name that is not already in use by another business in Hungary. To check the availability of your desired company name, you can use the online search tool provided by the Hungarian Company Information and Electronic Filing System: https://www.e-cegjegyzek.hu/
Step 3: Prepare the Incorporation Documents
Once you have chosen a company structure and name, you will need to prepare the incorporation documents for your company. These documents should include information about the company's purpose, management structure, and share capital (if applicable).
Step 4: Register with the Company Court
Submit the incorporation documents and other required documents to the Company Court for approval. The Company Court will review your application and, if approved, issue a Certificate of Incorporation.
Step 5: Obtain a Tax Identification Number (TIN)
After registering with the Company Court, you will need to obtain a Tax Identification Number (TIN) for your company from the Hungarian tax authority (NAV). This number is required for tax purposes and should be used on all official documents related to your company. You can apply for a TIN online through the Hungarian tax authority website: https://en.nav.gov.hu/
Step 6: Register for Social Security and Taxes
Register your company with the Hungarian Social Security system and the Hungarian tax authority to ensure compliance with local regulations.
Step 7: Obtain Necessary Licenses and Permits
Depending on your business activities, you may need to obtain additional licenses and permits to operate in Hungary. Consult with a local attorney or the Hungarian Chamber of Commerce and Industry for guidance on any additional requirements for your business.
Costs and Time-frame for Registration:
The costs for registering a company in Hungary vary depending on the chosen company structure and other factors. Generally, the costs can range from HUF 50,000 to HUF 250,000 (approximately USD 180 to USD 900). The time-frame for registering a company in Hungary can take between 2 to 4 weeks, depending on the complexity of the application and the chosen company structure.
Additional Support and Resources:
The Hungarian Chamber of Commerce and Industry offers support and assistance to entrepreneurs through its various programs and initiatives, such as the Business Information Center and the Entrepreneurship Center. These programs provide resources, guidance, and training to help you navigate the various steps involved in establishing your business. Visit the Hungarian Chamber of Commerce and Industry website for more information: https://mkik.hu/