A bank account needs to be opened after forming the company. Citizens with any nationality can open a bank account in Hungary, but have to be presented personally at the bank and showing their passport as proof of identity.
In order to facilitate electronic administration whenever is possible an online client ID is assigned to the company. This ease and speed up the processes with local authorities where applicable.
The company must be registered at various local authorities within certain amount of time after the company is formed. Registration includes the municipality for paying local municipality tax, the Chamber of Industry to pay annual fees, the Central Statistics Office and the National Tax Office to obtain tax number.