How long does it usually take to open a corporate bank account after my Kft. is registered?

If the company data is clear and the ownership structure is transparent, the account opening itself is usually a matter of days rather than weeks. In practice, the timeline is shaped more by document collection, internal risk checks and international KYC requirements than by Hungarian law.

Which documents do Hungarian banks typically ask for from foreign owners?

Beyond the standard company documents, banks usually ask for identification documents of the ultimate beneficial owners, proof of address, information on the planned activity and sometimes background on the group to which the company belongs. The more complex the structure, the more documentation may be required.

Can my company be refused by a bank even if it is properly registered?

Yes. Bank account opening is always a decision of the financial institution. Even if a company is validly registered, a bank may decline the relationship based on its internal risk policy. This is not a legal judgment on the company – it is an internal assessment. In such situations it is often useful to speak with more than one institution.

Opening a Corporate Bank Account in Hungary – A Key Step After Your Kft (LLC) Is Registered

Q: Do I need to travel to Hungary to open a corporate bank account?

Not always. Most banks will require a form of in-person identification and signing, but this can often happen outside Hungary – for example before a notary, at a consulate or at a foreign branch or representative office of the chosen bank. The exact options depend on the institution’s internal rules, so this is always something to clarify at the beginning.

11/12/2025

This overview outlines what foreign founders should know about opening a corporate bank account in Hungary, and how this step fits into the practical reality of starting a Hungarian company.

In a previous article, we wrote about why foreign founders who choose to set up a business in Hungary typically opt for a Kft (the Hungarian equivalent of a limited liability company). Its structure is clear, predictable and familiar for many, which makes it the most straightforward entry point into the Hungarian business environment.

Company formation, however, is only the first step.
Under Hungarian law, all legal entities — including Kft, Bt, Kkt and Rt — are required to open a corporate payment account.
Business-related financial operations such as receiving income, making payments or fulfilling tax obligations must be carried out through a bank account.

A bank account cannot be opened as part of the company formation process

Company formation in Hungary is fast, electronic and legally well-defined.
Opening a corporate bank account, however, is not part of that process.
It is a separate procedure carried out by the bank, based on the institution's internal rules and the mandatory customer due diligence requirements set out by law.

The bank is responsible for identifying the client, recording the details of the beneficial owner(s) and completing the anti-money-laundering checks required by law.
These legal requirements apply uniformly to all financial institutions.

What may differ from one bank to another is not the legal content, but the way these requirements are implemented in practice.

How the account opening is carried out depends on the bank

Hungarian regulations allow financial institutions to use remote customer identification tools.
Whether a particular bank chooses to offer this option — and in what situations — is entirely up to that institution.

As a result:

some banks may offer remote or online identification,
while others may require the account holder or company representative to appear in person.

Because practices vary between institutions, it is possible that opening the account will require travelling to Hungary.
This is not a universal rule, but it is a realistic scenario worth considering in advance.

Choosing a bank is ultimately a matter of personal preference: each founder decides which institution they are comfortable working with, and the account-opening process will follow that bank's internal procedures.

Where this fits in the overall process

Once the company is registered, the owner or managing director receives the documents needed to begin the account-opening process.
However, from that point on, all steps are carried out by the bank — under its own procedural framework.

In other words:company formation is a legal process; opening the account is a banking process.
The two are connected, but not interchangeable.

Why it is worth planning ahead

For Hungarian companies, a corporate bank account is not optional —it is a legal requirement and an essential part of day-to-day business operations.

The exact method and timing of account opening will always depend on the bank selected by the founder.
Those who are aware of this at the beginning of the company formation process can plan more effectively and avoid unnecessary delays — especially in cross-border situations.

The logic is simple: starting a Hungarian Kft requires two separate steps: incorporating the company and opening the bank account.
Each follows its own rules, and both deserve attention when planning a new venture.

Frequently asked questions

Q1: Do all banks open a corporate account within a few days?

No. Some clients complete the process very quickly, while others need several rounds of clarification. The timing depends on each bank's internal procedures, workload and risk policies, as well as the client's documentation and identification process. There is no universal timeline — and no institution works exactly the same way as another.

Q2: What is the most overlooked factor in opening a corporate bank account as a foreign owner?

Language.
Banks must ensure that clients understand what they are signing, and clients must be able to communicate clearly. Some branches offer English or German staff, others do not. In some cases an interpreter may be required. This alone can determine whether the process feels straightforward or unexpectedly complex.

Q3: Do I need to travel to Hungary to open a corporate account?

It depends on the bank.
Some institutions allow identification and signing abroad (before a notary, at a consulate or at a foreign branch or representative office). Others require in-person signing in Hungary. There is no single rule that applies to all banks — each institution sets its own requirements, so this is always something to clarify early in the process.

Q4: Why do similar clients experience very different timelines?

Because account opening is not a mechanical process. Banks assess documentation, ownership structures, jurisdictions, planned activity and risk indicators differently. Internal workflow and the availability of staff who speak the client's language also influence the timeline. Two similar companies may have very different experiences simply because they worked with different institutions or different branches.

Q5: Can a bank refuse to open an account even if my company is properly registered?

Yes. Company registration is a legal requirement; account opening is a business decision. Banks apply internal risk policies and may decline a relationship for reasons unrelated to the company's legality. A refusal is not a legal evaluation — it is an internal institutional judgment.

For regulatory reference:
A searchable list of licensed credit institutions in Hungary is available through the official register of the Hungarian National Bank.

If you are planning to set up a Hungarian Kft

We handle the full legal side of the incorporation,and at the outset we outline what will be needed to begin the account-opening process, so that your launch is clear, structured and predictable.

If you would like to review your options, simply write a short note describing the business you intend to establish — I will respond and outline the legal steps involved.

You may reach me at: lilla.acs@dunalegal.com