Hungarian Shelf Company

How does it work?

Upon purchasing a shelf company, the registration of you, as owner of that company and of the person who will act as managing director is carried out.

Buying the shell company starts with the preparation and signing of the necessary corporate documents. Upon receiving the duly signed documents, they will be submitted to the Budapest Court of Registration where the registration of the corporate changes takes 8 business days. The shelf company purchase documents do not need to be signed in Hungary. The signing of these documents may also be done in your home country. In this case, however, notarization of the shelf company purchase documents and of the modified incorporation documents is required.

Upon taking over a shelf company, you will receive the entire corporate documentation of that company starting from the date of the company incorporation until the date of your purchase. Shelf companies are empty dormant companies. This means that these companies did not perform any business activity during their lifetime, have no public debt or any other outstanding obligation. This will be certified for you in the sale and purchase agreement.

Available Shelf Company

There are different types of companies in Hungary. The most common is, however, the incorporation of a limited liability company (LLC or LTD, in Hungarian: KFT). For this reason, the FirmaX shell company portfolio includes the LLC / LTD. Hungarian corporate law allows a rather wide scale of possibilities for the operation of a limited liability company. For this reason, this company form is normally the best option to buy.

An LLC may have one or more members and managing directors. The start up capital for an LLC is HUF 3.000.000 which needs to be paid up to the company upon incorporation. Each FirmaX shell company has a share capital of HUF 3.000.000. For our shelf companies there is no auditing obligation or any other administrative burden that complicates its business operation.