Hungary: founding your own company
12.2008
The Hungarian company law does not differ greatly from the Austrian one.
Basically two types of companies can be chosen in Hungary: the Kft. [corresponding the Austrian GmbH (limited liability company)] and the Rd.Kft. which is like an Austrian AG (public limited company). Both forms can be founded as one-man companies.
Founding a Kft. requires a nominal capital of at least HUF 3,000.000 (about € 11.600,--), HUF 1,000.000 to be contributed in cash. The foundation charter is required in writing and can only be countersigned by a lawyer admitted to practise in Hungary. Within 30 days after signing the foundation charter one must apply for the registration of the company at the business court.
Furthermore founding a branch office in Hungary is an attractive possibility for foreign companies to conduct business there. The registration of a branch office at the commercial court costs HUF 250.000 (about € 970,--) and the branch office may take up business after it has been registered.
Founding a Kft. requires a nominal capital of at least HUF 3,000.000 (about € 11.600,--), HUF 1,000.000 to be contributed in cash. The foundation charter is required in writing and can only be countersigned by a lawyer admitted to practise in Hungary. Within 30 days after signing the foundation charter one must apply for the registration of the company at the business court.
Furthermore founding a branch office in Hungary is an attractive possibility for foreign companies to conduct business there. The registration of a branch office at the commercial court costs HUF 250.000 (about € 970,--) and the branch office may take up business after it has been registered.
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