Tyche in Hungary
We already have an established network of contacts in Hungary for creating and directing temporary companies, as well as for external CFO support.
The path to creating a Kft in Hungary, step by step
These timelines assume a complete file (ID documents, supporting evidence, governance decisions made): an incomplete file is the single most common cause of delay, ahead of the administrative timelines themselves. Once the file is genuinely complete, expect generally 1 to 15 business days for the legal process itself.
Minimum share capital: HUF 3,000,000.
Project scoping & complete file
Gathering ID documents, mandate, governance decisions and choice of bank — the essential groundwork for the legal timelines below to actually start running.
Incorporation via lawyer
No notary is required: a Hungarian lawyer drafts the articles and files the registration electronically.
Express registration
The simplified procedure completes in 1 business day; the standard procedure takes up to 15 business days.
Foreign founders' tax number
Each foreign founder must obtain a Hungarian tax identification number.
Bank account
The account must be opened and then reported to the tax authority (NAV) within 7 days of opening.
Safety margin — opening the bank account
On top of the legal timelines above, allow one week of banking margin: KYC checks, extra documentation or a branch appointment can extend account opening, particularly for a non-resident director.
VAT
| Taux | ||
|---|---|---|
| Standard rate | 27% | |
| Reduced rates | 18% | dairy products, basic bakery goods, outdoor event tickets |
| Reduced rates | 5% | basic food products, medicines, books, new housing |
Corporate tax
9% — the lowest rate in the European Union, unchanged since 2017.
Is a visa required?
No for an EU/EEA national. A non-EU national can be a shareholder or director, but needs an appropriate residence permit to reside in Hungary to carry out that role on-site.
Information provided for guidance (July 2026), subject to change depending on local regulation, the bank and the relevant authority. We confirm the precise timeline with you during the initial assessment of your project.
Opening a bank account
Is presence in Hungary required?
Incorporation can be handled by a mandated lawyer without the founder systematically travelling. If the director has no Hungarian address, the company must appoint a local agent to receive official documents.
Observed timeframe to open the account
1 to 3 weeks; each foreign founder must first obtain a Hungarian tax identification number, a prerequisite step before the account can be opened.
Share capital deposit
Minimum share capital: HUF 3,000,000.
Ultimate Beneficial Owner (UBO) register
Every director or shareholder must be declared as an Ultimate Beneficial Owner (UBO) in the national register — a requirement stemming from EU anti-money-laundering directives (or equivalent standards outside the EU). Bank scrutiny is heightened in two situations common among international clients: when a shareholder or director is a US citizen or US tax resident (FATCA then imposes extra reporting obligations on the bank, which can slow down or complicate account opening); and when a shareholder is based in an African country rated higher-risk by the FATF (extra proof of the origin of funds, longer KYC validation times). We anticipate this with you from the initial assessment if your structure involves such profiles.
Information provided for guidance (July 2026), subject to change depending on local regulation. We confirm the applicable detail with you during the initial assessment of your project.
Selling on-site and clearing customs
Securing a premises or retail location
Commercial lease, a trading-activity declaration with the local notary (jegyző), and chamber-of-commerce registration for regulated trades.
On-site sales & till
An online cash register (pénztárgép) is mandatory for retail trade, reporting sales in real time to the tax authority (NAV).
Cash register suppliers
- SumUp
- Zettle (PayPal)
- myPOS
- Shopify POS
- Lightspeed
Payment providers for small businesses
- Stripe
- PayPal Business
- Barion (acquéreur local)
- Adyen
- OTP Simple Pay
Indicative, non-exhaustive list of examples of solutions present on the local market — availability and terms change quickly; we help you select the best-suited offer during the assessment of your project.
Customs & ATA carnet
To exhibit or sell equipment at a trade fair, the ATA carnet allows temporary import of goods — professional equipment, samples, stand fittings — without advancing customs duties or import VAT, provided they are re-exported within the allotted period (generally 12 months, sometimes 6 months for fair equipment). The carnet is issued by the chamber of commerce in the country of departure and recognised across the international network of ATA Convention countries, a network that covers Hungary.
Importing products from outside the European Union
To import goods from a non-EU country (China, the US, etc.), an EORI number is essential for any customs procedure. Customs duties depend on the tariff code (combined nomenclature) and the product's origin; import VAT is then due at the rate applicable in the destination country, generally recoverable if the business is VAT-registered. Depending on trade agreements in force, some products benefit from reduced or zero duties on presentation of a certificate of origin. The competent authority for these procedures is National Tax and Customs Administration (NAV).
On-site consumer rules
A sale concluded in person at a stand during a trade fair that is not your usual place of business is generally classed as an "off-premises" contract under the EU Consumer Rights Directive (2011/83/EU): the customer then has a 14-day right of withdrawal, subject to exceptions (personalised, perishable or sealed goods). This principle, harmonised across the EU/EEA, applies in Hungary — we check the local details with you based on your sales activity.
Information provided for guidance (July 2026), subject to change depending on local regulation. We confirm the applicable detail with you during the initial assessment of your project.