Bank account in Hungary

Non-resident entrepreneurs who have a company in Hungary should be aware of the benefits of opening a bank account in Hungary. Opening a bank account in Hungary makes it possible to control the necessary payments in this jurisdiction.

Usually, Hungarian banks do not require a lot of documents from foreigners who want to open a bank account in this country.

Transaction currency
Transactions are carried out both in national currency (Hungarian forint), and in other currencies (Euro or US dollar).
The national currency in Hungary is the Hungarian Forint (HUF).

What is necessary to open a bank account for a non-resident?
In some banks, a foreigner only needs to present a passport to open an account. However, the bank may require a non-resident customer to obtain a residence permit or work permit. The cost of opening an account, issuing a bank card and other services, as a rule, is different and depends only on the selected bank. Also, foreigners should consider many aspects when choosing the desired bank. For example, convenient placement of bank branches in the country and the number of available ATMs. These options will greatly simplify the use of the services of the selected bank.

To open a corporate account with a Hungarian bank, a non-resident client must:

• go through the identification process by submitting the originals of the following documents (passport, document confirming permanent residence);
• provide notarized copies of the company’s statutory documents translated into Hungarian, as well as a copy of the company registration certificate;
• submit documents with data on the shareholder / beneficiary (confirmation of wealth, resume, bank statement);
• provide bank statements, invoices, contracts with counterparties.

We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.