Open an Account in Hungary

Hungary is a member of the European Union and NATO. It is a very attractive country for relocating individuals or opening branches of legal entities that intend to expand their business to the Eurozone or conduct investment activities. In order to achieve these goals, it is first necessary to open a bank account in Hungary. This country has its own peculiarities in this process, so entrusting the work to professionals is better. Lawtter Solutions helps clients to open a bank account in Hungary quickly and reliably.

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Opening an account

Lawtter Solutions offers legal solutions in business registration, bank account opening

Permanent residency

Lawtter Solutions offers legal solutions in business registration, bank account opening

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Lawtter Solutions offers legal solutions in business registration, bank account opening

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1000 EUR*

Service cost

1-3 months

Terms

Multilingual

Support

With a personal visit

Type

Opening an account

Basic information about opening a bank account in Hungary

In Hungary, more than 80 financial institutions have received a banking license. This country offers the possibility of opening a bank account for individuals and legal entities. The account currencies are Hungarian forint, US dollar, or euro. It is possible to open a non-resident account in Hungary. However, if you plan to use this country as an offshore for your business, it is not the best solution, as there are no special conditions for non-resident companies.

Individuals can get a bank card and obtain an insurance policy. Companies that have registered in Hungary can carry out financial transactions and accept and send payments following general EU rules. Some banks offer foreigners and foreign companies the ability to open bank accounts remotely. To do this, you need to download an application to your phone, upload the necessary documents, and wait for a decision.

It is also important to consider that each bank has its own conditions and commissions. Therefore, you should choose the right bank. Some financial organizations offer to open an account in Hungary without account or card maintenance fees, with different fees for cash withdrawals, online transactions, etc.

Advantages of opening a bank account in Hungary

Opening a bank account in Hungary will be required both for individuals who are moving for permanent residence and for legal entities who want to work in the EU. The advantages of this decision are as follows:

Ability to work freely in the EU

Hungary is a member of the Eurozone, so it is possible to operate in the European Union markets.

Possibility to open a bank account remotely

In order to go through the registration procedure, it is not necessary to visit a branch in person. Some banks allow you to do this online while abroad.

A large number of banks

All major banks in Hungary are ready to cooperate with foreign clients.

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Documents

List of documents for opening a bank account

To open a bank account in Hungary, you must prepare a document package. For individuals, it includes the following documents:

Passport or ID card;
A document confirming the address of residence;
Taxpayer identification number;
Proof of origin of funds;
Resume (CV).

As for legal entities, the list of documents is as follows:

Constituent documents of the company;
Passport of the director and shareholders;
ID card of the manager (if any);
Power of attorney for the steward (if any);
Proof of residence address of the director, shareholders, and manager (if available);
Contracts with partners;
Proof of origin of the money.