How to Open an Online Offshore Banking Account in Hungary? (2024 Guide)12 min read

How to Open an Online Offshore Banking Account in Hungary? (2024 Guide)12 min read

With the rise of digital offshore banking, opening an offshore bank account online has become easier than ever. One popular jurisdiction for offshore banking is Hungary, known for its stable economy and favorable banking regulations. 

If you’re interested in venturing into international finance and doing offshore banking in Hungary, this guide will show you exactly how to open an online offshore bank account in the country without needing to visit in person.

How to Do International Offshore Banking in Hungary?

The first thing to understand is why someone would want to do international offshore banking in Hungary. There are several advantages:

• Hungary has a competitive corporate tax rate of 9% which can help save on business taxes when conducting international operations.
• As an EU member state, Hungary provides access to the European single market allowing for smoother cross-border trade and transactions within the EU.
• Hungarian banks generally offer multi-currency accounts in major world currencies like USD, EUR, GBP which are convenient for international trade and investments.
• Setting up an offshore structure with a Hungarian bank can help separate your personal assets from business assets and provide an extra layer of privacy and protection.
• Hungary has a developed financial industry that adheres to high regulatory standards making banking there a safe and secure option.

To actually open an offshore bank account in Hungary, you’ll need to find the right digital offshore account bank. One of the best options these days is The Kingdom Bank, the bank that can help you open an offshore account in Hungary online without you visiting the country.

How to Open an Offshore Bank Account in Hungary?

Here are the step-by-step instructions to open an offshore bank account in Hungary online through The Kingdom Bank:

1. Research and select a suitable bank

Research banks offering offshore corporate and private accounts in Hungary. Make sure to consider services, account types, fees and online banking capabilities.

2. Complete the online application form

Visit The Kingdom Bank’s website and fill out all the required information in their online application form. You’ll need to provide basic KYC documents as well.

3. Submit verification documents

Upload clear copies or scans of your photo identification documents like passports. You may also need to provide proof of address and source of wealth details.

4. Verify your identity online

The Kingdom Bank will conduct necessary checks using digital ID verification tools to validate your identity from the comfort of your home without visiting Hungary.

5. Make opening deposit

Once verified, you’ll need to deposit the minimum opening amount, usually around 5000 EUR, into your new offshore bank account.

6. Activate online banking

Within a few business days, your new offshore bank account will be activated and you can start using the digital banking platform from anywhere in the world.

And just like that, you’ll have successfully opened your very first online Hungary offshore banking account while staying in your home country. 

The whole process can usually be completed within 1-2 weeks if all documents are in order.

Can a Non Resident Open an Offshore Banking Account in Hungary?

While Hungary used to only allow resident applicants to open offshore bank accounts, recent years have seen regulations ease up a bit. 

These days, it’s possible for non-residents to open certain types of offshore bank accounts in Hungary as well under certain conditions:

You need a legitimate business purpose and connection to Hungary such as owning a Hungarian company, investing in the country, doing business with Hungarian partners etc.

Banks will want to see proof of source of funds and verify your source of wealth upfront before approval.

You may need a Hungarian address registered for official communications which The Kingdom Bank can provide as part of their service.

As long as you have a valid reason for banking in Hungary along with verified source of wealth details, opening an offshore account as a non-resident should not pose a challenge when using a trusted digital offshore bank. Just be prepared to answer detailed questions from the bank.

Best Offshore Banking Account in Hungary for Beginners

For newcomers just starting out in offshore banking, here are a few traits that make The Kingdom Bank an excellent choice as your first offshore banking account in Hungary:

Fully digital and online – No need to visit Hungary as all account opening and management can be handled digitally from anywhere.

Beginner friendly experience – Simplistic application process and easy to navigate user interface made for smooth onboarding.

Multi-currency accounts – Offer Euro, USD, GBP and other major currencies making it suitable for global traders and investors.

No minimum balance requirements – You can start with modest opening deposits reducing initial commitment.

Competitive pricing – Low and transparent fees without hidden charges.

Advanced security – Industry leading encryption and digital identity verification for peace of mind.

Quality support – Helpful live chat team available for instant assistance during business hours.

For offshore newbies, The Kingdom Bank offers an all-inclusive digital solution to dip your toes into the world of offshore banking in a user-friendly way without any fuss.

Digital Offshore Bank to Open an Online Account in Hungary

In today’s digital era, having an entirely online offshore banking experience through a trusted digital offshore bank like The Kingdom Bank has numerous advantages over traditional brick and mortar banks:

• Convenience of banking from anywhere online – No need to visit Hungary as all account activities can be handled from your laptop or mobile anytime, anywhere in the world.
• Hassle-free account opening – simplified digital application and ID verification process gets your account started within days from the comfort of home.
• Advanced online security features – Industry leading encryption and digital authentication protocols keep your finances safe in the virtual world.
• Multi-device access – Seamlessly manage your accounts on desktop, mobile and tablets for flexibility on the go.
• Competitive pricing – Lower overhead costs passed on as benefits to you in the form of nominal fees and charges.

For offshore residents and digital nomads who value location independence, a fully digital offshore bank like The Kingdom Bank is the clear modern choice for gaining convenient access to Hungary’s favorable banking environment from any corner of the globe.

Opening an offshore account in Hungary has become extremely straightforward in this digital age thanks to advanced solutions provided by banks like The Kingdom Bank. 

Whether you’re an individual or business owner looking to explore the benefits of international offshore banking, venturing into Hungary’s offshore sector through a reputed digital offshore bank is a low effort way to diversify your financial portfolio globally.

If managing your international finances from a single digital banking platform while taking advantage of Hungary’s competitive tax rates and EU market access piques your entrepreneurial interests, consider starting your journey with The Kingdom Bank today. 

Click here to fill their simple online application form and take the first step towards establishing your new international banking presence securely from anywhere in the world.