In Hungary, every company is required to have an accountant to remain compliant with regulations. But what exactly can and cannot an accountant do? Should you get one on payroll or can you outsource these tasks? What to watch out for? Read on to find out.
In Hungary, data of any company are registered with the Company Registry, and it is the owner’s or the executive’s responsibility to keep those data up to date. Some changes can be simply reported, but changes to core data require a more complex procedure called company modification. Learn what these are, and how to handle …
Every Hungarian company must have a local bank account, which you can only open in person. In a previous article, we explained what Hungarian banks expect from foreigners and how you can prepare for your bank appointment and the KYC procedure. This time, we focus on the arrangements that should make your bank account opening …
Bank account opening: planning your trip to Hungary Read More »
If you are setting up a company in Hungary, you will need a corporate bank account. Over the last few years, bank policies have changed, so bank account opening in Hungary for your company as a foreigner has various aspects you should be aware of if you want the process to be smooth and swift. …
Corporate bank account opening as a foreigner in Hungary Read More »
In the 21st century, you rightly expect administration to be available online as well as in person. And it is! Hungary has customer portals operated by the government that give you access to electronic administration – both as an individual and as the manager of a Hungarian company. Learn about them with us.
When registering your Hungarian company, you should also indicate its main activity. You do not simply state what you are planning to do: there is an official list, accepted by all EU countries, and you select the item that suits your planned activity the most. Each activity has a numeric ID, which is called their …
Your Hungarian company’s activity and your NACE code Read More »
Using a virtual office as your seat address can save your Hungarian company a lot of time, effort, and money. You can have competent assistance from Day 1 of your operation for the fraction of the cost of an employee, and you can rest assured your official mail will always find you.
All companies registered in Budapest have obligations towards BKIK, the Budapest Chamber of Commerce: every year, they must provide the Chamber of Commerce with information about their activity and pay a small contribution. However, joining BKIK is optional, meaning that the yearly contribution is not a membership fee. So what is the difference between the …
BKIK membership as opposed to yearly contributions Read More »
If you are interested specifically in setting up a transportation company in Hungary, you are in the right place. We have just launched our page dedicated to the topic, with industry specific information, a couple of videos, and a profit calculator.
Applying for a VAT number is in most cases part of the company setup procedure. In Hungary, you can apply for an EU VAT number right when you register your company, without extra costs or waiting time. But what is a VAT number for?
