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Choose a business structure
Compare the advantages and disadvantages of each entity type to find the one that's best for your business.
| Sole Proprietorship (Egyéni vállalkozó) | Unlimited Partnership (Kkt.) | Limited Partnership (Bt.) | Limited Liability Company (Kft.) | Private Company Limited by Shares (Zrt.) | Public Company Limited by Shares (Nyrt.) | |
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| Features | ||||||
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Legal Structure
The company’s legal identity and framework
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Operated by one individual; no separate legal entity
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Partnership where partners are jointly liable for business obligations
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At least one general partner (unlimited liability) and one limited partner
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Separate legal entity; popular SME structure
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Joint-stock company with privately held shares (not publicly traded)
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Public company with shares traded on stock exchange
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Shareholders
Specifies how many individuals or entities can own the company and their level of control
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Full control and responsibility held by one person
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Two or more partners, jointly managing the business
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General partner runs operations; limited partner invests only
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One or more members (individuals or legal entities)
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Shareholders appoint a board to manage
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Managed by board; ownership via public shareholders
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Compliance
Covers what administrative and legal steps are needed to form and run the company
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Easy to register via online government portal
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Requires partnership agreement and registration with Company Registry
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Needs company registration and partnership contract
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Requires company registration, articles of association, and bank deposit
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Must meet legal registration and financial audit requirements
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Requires strict financial transparency, public disclosures, stock exchange rules
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Suitability
Suggests which kinds of entrepreneurs or businesses are best matched to the structure
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Ideal for freelancers and small-scale service providers
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Good for small businesses with shared control
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Suitable for passive investors and family businesses
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Suitable for Hungarian or foreign-owned SMEs
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Suitable for medium to large businesses
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Ideal for large corporations and businesses raising funds from public
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Flexibility
Indicates the ease of management, registration, and operational adaptability
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Very low cost and administrative burden
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Simple formation, no formal management body required
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Allows silent partners without management responsibility
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Management flexibility; member liability limited to contributions
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Shareholders can sell shares privately without public offering
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Ability to raise capital from capital markets
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| Comparison | ||||||
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Tax Rate
Outlines how the company is taxed (corporate or personal, rates, eligibility for flat-rate schemes)
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Taxed as personal income or flat-rate (KATA if eligible)
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Partners pay personal income tax on their share
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Corporate income tax on profits
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9% corporate income tax + local business tax
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9% corporate tax + dividend withholding tax
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Same as Zrt. – corporate tax + dividend tax
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Liability
Explains whether the owners are personally liable or protected through limited liability
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Unlimited personal liability
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Unlimited joint and several liability among partners
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General partner: unlimited; Limited partner: limited to investment amount
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Liability limited to amount of capital contribution
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Liability limited to value of shares held
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Liability limited to amount invested in shares
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Capital Requirement
Shows whether the company requires minimum start-up capital and how much
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No minimum capital
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No minimum capital
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No minimum capital
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Minimum HUF 3 million (~€7,800)
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Minimum HUF 5 million (~€13,000)
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Minimum HUF 20 million (~€52,000)
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Business Registration FAQs
Find answers about company setup, liability, and pricing.
<p>Registering a business means legally establishing a company with the relevant government authorities—typically HM Revenue & Customs (HMRC) and Companies House. It allows the business to trade legally and meet its tax and regulatory obligations.</p>
<p>To register a limited company, you’ll need:</p><p>• A unique company name</p><p>• A UK registered office address</p><p>• At least one director (over 16 years old)</p><p>• Shareholder details (can be the same person as the director)</p><p>• Memorandum and Articles of Association</p><p>• SIC code (Standard Industrial Classification of business activity and need to register with HMRC for Corporation Tax within 3 months of trading)</p>
<p>• Online via Companies House: Usually 24 hours</p><p>• Postal application: Takes around 8 to 10 working days</p><p>• Same-day registration: Available for an additional fee if submitted before 3pm</p>
<p>• Sole Trader: Free registration with HMRC</p><p>• Private Limited Company (Ltd): £50 (online), £75 (postal)</p><p>• LLPs and CICs: Slightly higher due to complexity and documentation</p>
<p>Yes. There are no restrictions on non-UK residents forming or owning UK companies. However, a UK registered address is required.</p>
<p>• Annual Accounts (to Companies House)</p><p>• Confirmation Statement (every 12 months)</p><p>• Corporation Tax Return (to HMRC)</p><p>• PAYE & VAT (if applicable)</p>
<p>• Sole Traders: Not mandatory but recommended</p><p>• Limited Companies & LLPs: Legally required to have a separate business account</p>
<p>Criteria Sole Trader Limited Company</p><p>Liability Unlimited personal liability Limited to share capital</p><p>Taxation Income Tax Corporation Tax</p><p>Admin Minimal More regulatory obligations</p><p>Credibility Basic High (useful for funding)</p>
<p>It’s the official address of your company listed with Companies House where all legal correspondence is sent. It must be a UK address, and can be your accountant’s or a virtual office.</p>
<p>• Accountant: Highly recommended for tax, payroll, and filing support</p><p>• Lawyer: Useful for contracts, share agreements, trademarks, and company setup (especially if complex)</p>
