| LLC | Private JSC | Public JSC | LLP | Branch Office | Rep Office | |
|---|---|---|---|---|---|---|
| Local Name | Korlátolt Felelősségű Társaság | Magán Részvénytársaság | Nyilvános Részvénytársaság | Betéti Társaság | Fiókiroda | Képviseleti Iroda |
| Company Setup Time | 10 days | 15 days | 15 days | 15 days | 10 days | 10 days |
| Bank Account Opening | 10 days | 10 days | 10 days | 10 days | 10 days | No |
| Government Grants Available | Yes | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | Yes | No | No |
| Limited Liability | Yes | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
The Hungary limited liability company (Kft.)
- Hungarian LLC needs a shareholder and a director. Also, 2 of them can be of any nationality and must not be a resident of the country.
- Under this, the company has to prepare financial statements and submit it to the Company register annually.
The Hungary joint stock company (Rt.)
- A Hungarian JSC can be set up with one shareholder and with the initial share capital of 63,850 pounds. Even the company needs to appoint 3 directors and certified accountant as well.
- As per the Corporate Taxation Act, JSCs need to file their audited annual financial statement and balance sheet with the company register per year.
The Hungary branch office (also known as Fa.)
- Foreign Corporation can open its branch offices in Hungary and enter the market. Although the parent company has to bear unlimited liability as the branch office will not be considered as separate legal entities.
- Also, all the branches have to appoint a legal representative, who is a resident of Hungary to file the annual returns of the company with the Company register.
The Hungary representative office (also known as K.i.)
- As the representative office is concerned, it will be 100% foreign owned but will not be able to continue commercial activities in Hungary. The entity can only help parent company to promote the businessm liaison activities and market research.