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How do I open a business account in Hungary?

Since 2020, it has not been easy to open a bank account in Hungary. Therefore, our clients also need to be prepared for these difficulties. But let's take a look at the criteria that banks consider when evaluating a bank account application:
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  • A good registered office address where not many companies are registered
  • Director of the company who speaks fluently english
  • A verbal presentation of a business plan
  • Naming business partners in Hungary
  • Hungarian Personal Tax Number
  • Hungarian Domicile Address of the director - if available
  • A letter of recommendation from the CEO's bank in the resident country can be advantageous.

Our office can recommend a professional with extensive experience in assisting companies with foreign managing directors in opening bank accounts. For a modest service fee, this service provider will support and coordinate the bank account opening process for your Hungarian Kft.

The account opening procedure looks like this: we recommend a few banks to our clients, where they can send the company documents from their own email addresses and apply for the account opening. In a high percentage of these cases, if the client also meets the criteria, the directors are successful, and they can get the opening of a business bank account for their newly established Hungarian company.

If our client is rejected by the banks, we refer them to one of our business partners who offers business account opening services. With their assistance, the client can reapply for the account opening. 
In some cases, clients may also need a Hungarian address. In such situations, we connect them with an address service provider to establish a Hungarian address, and once they have the address card, they can attempt the account opening process again.​ Please, take a look at our Ready Made company in Hungary Service webpage also...

If, however, the company’s CEO is unable to open a bank account at any of the banks, we recommend the fintech bank Wise, where almost anyone can easily open an account. The Hungarian tax authority also recognizes it as an official bank account.

Company registration specialist in Hungary, Budapest