Opening a Business Bank Account in Hungary as a Foreigner

✅ Do You Need a Local Bank Account?

Yes. Every Hungarian company (Kft or Zrt) must have a local business bank account to operate legally. This account is used to:

Deposit the company’s share capital.
Handle invoices, payments, and payroll.
Pay taxes and social contributions.

📄 Documents Required

While requirements vary by bank, you’ll typically need:

Valid passport or EU ID of all shareholders and directors.
Company registration documents (company extract, Articles of Association).
Hungarian tax number and EU VAT number (if applicable).
Proof of registered seat address.
Client Gate registration for electronic administration.

🏦 The Main Banks in Hungary

The largest commercial banks include:

OTP Bank (biggest local bank)
K&H Bank
UniCredit Bank Hungary
Raiffeisen Bank
CIB Bank

Each bank has slightly different requirements for foreigners. Some insist on in-person visits, while others are more flexible if you work with a local service provider.

⚠️ Common Challenges for Foreigners

In-person presence → Most banks require the director to visit Hungary in person.
Language barrier → Many bank documents are only available in Hungarian.
Enhanced KYC/AML checks → Non-EU founders often face stricter scrutiny.
Processing time → Account opening can take 1–4 weeks depending on the bank.

💳 Fintech Alternatives

In addition to traditional banks, many foreign entrepreneurs use fintech solutions:

Wise Business (multi-currency IBAN, easy onboarding)
Revolut Business
Payoneer (useful for e-commerce)

These accounts can often be opened remotely, but Hungarian tax authorities may still require a local HUF account for certain payments (e.g., taxes).

📊 Step-by-Step: Opening a Business Bank Account in Hungary

Incorporate your company (Kft or Zrt).
Receive your tax ID and VAT number.
Book an appointment with the bank (in advance, often 2–3 weeks).
Gather all documents (passport, company extract, seat address proof).
Attend the meeting in person (director usually required).
Deposit share capital (minimum HUF 3M for a Kft).
Receive account details and online banking access.

🎯 Practical Tips

Work with a local consultant to pre-screen banks and book the right appointment.
If you cannot travel, consider starting with a fintech account, then opening a local bank later.
Choose a bank with English-speaking support — not all branches offer this.

🚀 How HUNIQ TAX Can Help

At HUNIQ TAX, we assist foreign entrepreneurs in navigating the Hungarian banking system. Our services include:

Bank introductions and pre-checks.
Document preparation and translation.
On-site assistance at your bank appointment.
Fintech alternatives if a traditional bank is not possible.

📞 Need help opening your Hungarian business bank account? Book a consultation today →

One of the most important steps when starting a company in Hungary is opening a business bank account. For foreign entrepreneurs, this process can feel complex due to language barriers, compliance requirements, and varying policies between banks. In this guide, we’ll explain how it works, what documents you need, and what alternatives exist in 2025.