Hungary bank account ?

[topshore]

Hello,
I need corpoeate bank account in Hungary with EU comapny. Personal visit is available.

Which bank you recommended me?

 

[diablo]

you may ask @Internationaloff if he can help you. I don't remember if it is Bulgaria or Hungary he can do!

Why do you need an account there for what business?

 

[Alex4Days]

Where is the company registered?
Sberbank in Hungary are friendly to most companies.

 

[Marco]

I have a corporate bank account with the Raifeisen bank in Budapest. Its is a pain in the a*s because they barely speak English. It is however doable.

 

[negon]

Marco said:
I have a corporate bank account with the Raifeisen bank in Budapest. Its is a pain in the a*s because they barely speak English. It is however doable.
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personal visit was required or you did it all remote?

 

[Marco]

auric said:
personal visit was required or you did it all remote?
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Personal visit was required. They are strict. An hungarian lawyer did the prework for me.

 

[diablo]

But why do you want to bank there? do they have any privacy to offer? as far as I know.

 

[Marco]

diablo said:
But why do you want to bank there? do they have any privacy to offer? as far as I know.
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They do not offer any privacy however, since January 2017, their business tax is only 9%. I'd rather pay a 9% tax in Hunagry and sleep in peace then pay no tax and never know when the CRS will knock at my door. I am in the process of changing everything to my hungarian setup.

 

[superman]

Marco said:
They do not offer any privacy however, since January 2017, their business tax is only 9%. I'd rather pay a 9% tax in Hunagry and sleep in peace then pay no tax and never know when the CRS will knock at my door. I am in the process of changing everything to my hungarian setup.
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That's correct.... BUT dividend tax takes another 15% in case no tax treaty comes in... but there is a neighbour country with 10% wo has eliminate dividend tax 2015 and don't do any reporting (AIA&Co).... aside of this some more advantages...

 

[Milky Moon]

superman said:
That's correct.... BUT dividend tax takes another 15% in case no tax treaty comes in... but there is a neighbour country with 10% wo has eliminate dividend tax 2015 and don't do any reporting (AIA&Co).... aside of this some more advantages...
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Which country is that? (All EU countries are inside AEoI)

 

[superman]

Milky Moon said:
Which country is that? (All EU countries are inside AEoI)
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I don't tell inside EU... I mean the Serbian part of Bosnia...

 

[Tamarind]

Who in the right mind would Bank in Republika Srpska in Bosnia? I guess Afganistan sounds more plausible.

5-10-15% Tax fees are acceptable for a decent sleep.

 

[superman]

@Tamarind
Why someone should be not right mind who do this?
it depends on various points somehwere it make sense and there can be good reasons why someone deal with Banks in Bosnia, Montenegro or Serbia... same for other jurisdiction as Switzerland, Liechtenstein or whatever... on end everyone should take his advantage and do what's the right for him. If someone can do his business with EMI why not...

 

[Tamarind]

Sure, but I've worked in Bosnia and in RS too Banjaluka, Banks are not something you use there for big money, especially not foreign businesses, RS biz mostly bank in Serbia anyway, other in Croatia due to EU capital access. Not saying people shouldn't bank, just saying that its not something to be recommended due to many unknown elements there and dodgy banking/political structures.

 

[superman]

@Tamarind
I know what you mean, keep in mind last few years many has changed and there for someone can be very well advantages to go with them, I try all the time new solutions and I can say for some cases it's worth to deeply go in...
and today I would prefer all this countries over Belize, Dominica, Cyprus for Banking... the last one nowdays makes trouble as soon you move 5-6 figures around not to mention other things... aside of this there can be another nice advantage but this is nothing to talk about here...
well if 7 figures come into the game, sure then is better to go with Switzerland/Liechtenstein Banks or Insurances....

 

[Tamarind]

Yes agree, big numbers normally you go to decent asset banks, smaller sums are ok mostly, but medium numbers seem the hardest 100-500k mostly problematic, 1M+ you have nice private bankers. Not a easy world 🙂