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posted 6 years ago
In
order to establish a Hungarian company, it needs to be registered with the
Hungarian Court of Registration. The registration process requires the
involvement of a lawyer who countersigns the corporate documents and files the
electronic application for registration. The signing of corporate documentation
does not require a travel to Hungary, they can be signed abroad, however, the
opening of the bank account of the company generally requires the presence of a
signatory at least for one business day.
The
main steps of the establishment of a limited liability company are as follows
(this may vary a bit at other company forms):
With
some restrictions, the company can start business activities as from the
filing. From the filing (Step 6), the registration takes generally 1-2 weeks.
It
is possible to apply for an expedited
registration (usually within a week), however in such case, the articles of
association needs to be prepared on the basis of a template without any
additions or deletions.
The
registration of a general partnership, a limited partnership and a limited
liability company is free of statutory fees. The duty fee of registering a
private company limited by shares is HUF 100,000 and it is HUF 50,000 of
registering a branch office. Statutory publication fees (HUF 5,000),
translation, legalization and courier fees would also apply.
The above is a non-exhaustive description of
the relevant Hungarian legal provisions. The above summary should not be
considered as legal advice and should not be relied upon when making business
decisions. Before resolving on investment in Hungary, we recommend that you
contact our law firm for detailed, tailor-made legal advice.
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