Setting up a company in Hungary is just the first step – opening a business bank account can be a much bigger challenge. Even if you’ve successfully registered your company, Hungarian banks don’t automatically approve your application.
One major issue is that the Hungarian tax authority (NAV) only accepts tax payments from a Hungarian business bank account. Without one, your business can quickly run into legal and financial difficulties. However, banks have strict requirements, and they often reject applications from foreign business owners.
For example, most banks require your company to have a physical office—not just a registered address with a service provider. This is especially important if you are a foreigner and the managing director of the company. Additionally, not all banks operate the same way. The approval process can vary depending on which bank you choose and even which branch you visit.
Navigating this system alone can be frustrating and time-consuming. Having someone guide you through the process can save you time, stress, and money. If you need help opening a business bank account in Hungary, feel free to reach out!