Should I buy a shelf company in Hungary?

December 8, 2016

When planning international investment, most experienced entrepreneurs know that one of the easiest options is finding a business for sale. Buying a company is not only a convenient option, but usually requires less paperwork and offers an easier start. However, thanks to the quick administrative procedures and our well-coordinated partners, registering a new Hungarian company is much easier and quicker than buying a ready-made business.

Shelf companies take too long to buy

How is that possible? Buying a shelf company in Hungary requires longer administrative steps, as registering the purchase at the authorities might take up to one month. The sale requires the change of the official company details with the Court of Registry, and this procedure usually takes 30 days or longer to complete. All company information from before and after the change of ownership will remain available in the public database.

Shelf companies carry unforeseen risks

A shelf company may also bring non-foreseeable risks, due to the mistakes of the previous management in the aspects of taxation, labor law obligations or disadvantageous contracts. If these are not regulated in the sale contract, the new management is liable for them. Therefore, an extremely thorough background check is a must when buying a shelf company: making sure there are no outstanding payments or debts, that the company is not on any blacklist, and that all accountancy documents are available – you are required to show these for the past 10 years in case of a tax audit.

Get a brand new Hungarian company with Helpers

If you choose to set up a company with us, all the risks can be avoided and you will have a brand new Hungarian company in just a few days, ready to start any business activity with a valid EU VAT number. We are offering a comprehensive company formation service package that not only includes all the necessary administrative and legal steps, but covers all additional requirements such as opening a bank account or having a virtual office as your registered seat.

Contact us for a free consultation today, and we can help you find the best solutions for your project.

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