Tax and accounting regulations

Summary of Requirements for a KTF, Limited Liability Company

General Information
Type of Company KTF, Private Limited Liability Company
Timescale to incorporate 2 weeks
Corporate Taxation 10% Corporate Tax Rate on annual profits up to 500 million HUF. 19% on profits exceeding 500 million HUF
Double Tax Treaty Access: Yes
Directors
Minimum No. Required 1, Corporate Directors are permitted
Local Director Required No
Publicly accessible information No
Location of Meetings Anywhere
Shareholders
Minimum No. Required 1, 100% foreign shareholders allowed. Corporate Shareholders permitted
Publicly accessible information No
Location of Meetings Anywhere
Company Secretary
Required No
Local Secretary Required N/A
Registered Office Required Yes
Share Capital
Standard Currency Hungarian Forint (HUF)
Standard Authorised €2,000.00
Minimum Paid Up Capital Approx. €2,000.00.
Accounting & Compliance
Requirements to prepare Accounts Yes
Requirement for Audit Audit not required if both of the following conditions are met; the company’s average net turnover for the last 2 preceding years did not exceed 100 million HUF and the workforce is less that 50.
Local Auditor Required Yes, if Audit is required
Requirement to File Accounts Yes
Requirement to file Annual Return Yes
Additional Information
VAT 27%. Every company must register with the VAT authorities. Returns can be made monthly, quarterly or annually depending on the amount of VAT liability.
Bank Account Opening In order to open a bank account a visit can sometimes be required. Prior to a visit to Hungary all the preliminary information and documentation will be submitted to the bank.

Take the next step, we are here to help.

Register a Hungary company.
Open a Hungary bank account.

  Resources:

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Have the Many Benefits of Offshore Banking Left the Industry Open to Abuse?

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An Overview of Offshore Banking & its Benefits

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Information on the Payment of Cyprus Taxes for Pensions & Rental Income

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Cyprus Regulatory Update: Shell Company Definition & Exceptions

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Singapore Variable Capital Company VCC: New Features & Benefits

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