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enfold_admin2025-01-18 18:59:432025-02-22 11:56:30What are the costs of company formation in Hungary?What are the costs of company formation in Hungary?
Starting a business in Hungary presents an appealing opportunity for entrepreneurs, thanks to the country’s central location, favorable tax policies, and excellent infrastructure. However, understanding the cost of company formation in Hungary is crucial for any aspiring business owner.
In this guide, we’ll break down the various costs associated with company formation Hungary, providing you with a complete overview of what to expect during the process.
Legal and administrative fees
The initial step in company formation involves compiling the necessary documentation and initiating the registration process, both of which incur various fees. The GROWTH Package includes all fees, along with the legal services needed to complete your company formation, including the option to sign documents electronically as well. Upon completion, you will be issued several important identifiers: your company registration number, statistical code, personal tax number, EU VAT number, and local tax number. This package also includes bilingual English and Hungarian documentation, as well as the fee of a registered address for the first year.
Legal address
If you choose the 2nd, 3rd, or 4th package, the first year’s fee for your registered office will be covered. However, many business owners opt to rent physical office space to give their operations a professional presence. Office rental prices in Hungary depend on location and size, starting from about 250 EUR per month. Keep in mind that additional expenses, such as utilities, internet services, and office supplies, will contribute to your overall operating costs.
Share capital
The share capital is not a real cost, as it can be spent or used. In case of a limited liability company the required share capital is HUF 3 million (approximately €7,500). While this is the baseline for registration, you can increase this amount as your business grows and needs additional financial backing.
Insurance
Protecting your company with insurance is an important part of risk management. The cost of insurance is usually between 100 EUR and 500 EUR yearly. The exact price depends also on the level of coverage activities, but investing in insurance is key to safeguarding your business.
Accounting and tax compliance
When the company is officially registered, you’ll need reliable accounting and tax services to ensure you remain compliant with Hungarian regulations. Accounting fees typically begin from 100-400 EUR monthly according to the number of invoices and employees. Accurate bookkeeping is essential to avoid penalties and ensure you meet your tax obligations.
Other expenses
There are other costs you may need to factor in, including translation services, marketing and advertising expenses, website development, and industry-specific licenses or permits. The costs in these areas can vary significantly depending on your business model and the sector you operate in.
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