AMA: Anyone in or planning to come to Hungary? (tax residency)

Hey there! Sorry about the delay in replying, I've been a bit in over my head with a ton of things.

So here is my reply:

I would not recommend a shell company purchase in any way at all. Please don't do that. You should go to a lawyer and get your company registered. (I'd be happy to recommend a lawyer that deals with this.) Expect no more than 150 EUR's equivalent to create a simple company (if you don't want a complex shareholder structure or company status).
It will probably take around 15 days, but officially / legally, it depends on the court's decision to register your company. If you use a standard set of forms with a lawyer yes you can expect it to be done in that time, but legally the courts have a maximum of 3 months to validate your request (or reject it).
About the bank. You need to have a Hungarian corporate account to pay your taxes, but you can also have accounts in any other country (e.g.: a Revolut business account) and do the main part of your transactions through those accounts which will probably charge less. To create your bank account you should be here in most of the cases, but you can also mandate someone, like a lawyer to help you open the account. I'd recommend going with MagNet Bank Zrt. as they have one of the lowest fees.

As a side note: if you plan on actually operating the company, you will have to also register with an online invoicing company that is accredited by the Hungarian tax authorities (such as szamlazz.hu). Starting July 2020 all invoices have to be made through such services (that is no paper invoice, and no non-registered invoicing services).

Please don't use these registration companies, honestly usually you'll end up with more problems than anything else. It may feel like a lot of trouble to do it yourself, but you'll be way better off going to a lawyer to create your company, and again feel free to email me, and I'll be happy to recommend one, don't get scammed!

All the best of luck with your venture!

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This comment was deleted 6 years ago

DeletedUser

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6 years ago
1. 2
  Hey there! Sorry about the delay in replying, I've been a bit in over my head with a ton of things.
  
  So here is my reply:
  
  I would not recommend a shell company purchase in any way at all. Please don't do that. You should go to a lawyer and get your company registered. (I'd be happy to recommend a lawyer that deals with this.) Expect no more than 150 EUR's equivalent to create a simple company (if you don't want a complex shareholder structure or company status).
  
  It will probably take around 15 days, but officially / legally, it depends on the court's decision to register your company. If you use a standard set of forms with a lawyer yes you can expect it to be done in that time, but legally the courts have a maximum of 3 months to validate your request (or reject it).
  
  About the bank. You need to have a Hungarian corporate account to pay your taxes, but you can also have accounts in any other country (e.g.: a Revolut business account) and do the main part of your transactions through those accounts which will probably charge less. To create your bank account you should be here in most of the cases, but you can also mandate someone, like a lawyer to help you open the account. I'd recommend going with MagNet Bank Zrt. as they have one of the lowest fees.
  
  As a side note: if you plan on actually operating the company, you will have to also register with an online invoicing company that is accredited by the Hungarian tax authorities (such as szamlazz.hu). Starting July 2020 all invoices have to be made through such services (that is no paper invoice, and no non-registered invoicing services).
  
  Please don't use these registration companies, honestly usually you'll end up with more problems than anything else. It may feel like a lot of trouble to do it yourself, but you'll be way better off going to a lawyer to create your company, and again feel free to email me, and I'll be happy to recommend one, don't get scammed!
  
  All the best of luck with your venture!
  David
  
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  6 years ago
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    This comment was deleted 6 years ago
    
    DeletedUser
    
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    6 years ago
    1. 1
      
      No worries at all! Hope it helps! Feel free to email me if you have any questions! :)
      All the best mate!
      David
      
      David
      
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      6 years ago
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