Janos Hidvegi

Hidvégi János is the director of the Hungarian company Forming International kft. established in 1996 and specializing in incorporation and further maintenance of Hungarian companies and offshore structures ensuring the full package of corporate services for the clients. He has graduated from Moscow State Institute MADI and has a degree in Civil Engineering. In spite of his engineering degree, as of 1993 he moved to banking and incorporation services. He was a co-founder of the Swiss company Capital Line Trust AG in Zürich in 1993. This company was working in the area of international trading and finance. Janos Hidvegi has a long term banking experience: he and his companies were acting as the agents and were executing the intermediary contracts with the Hungarian, Austrian, Swiss and Latvian banks and have been providing corporate services for the clients since 1996.

Following the changes in life and legislation Forming International kft. has been dealing with the incorporation and administration of Hungarian and foreign companies for 16 years. Their staff is qualified in economics, law, foreign trade and also has work experience in banking. Their team of trained specialists include, among others, lawyers, accountants, speaking English, German and Russian.

Initially, in 1996, under the name of Forming Kft. they were establishing Hungarian “offshore” enterprises exclusively for foreign clients in the forms of limited (Kft.) companies. At that time the companies with special licences only had to pay 3% corporation tax. Due to the changes in law in 2004 and entrance of Hungary to EU it was a „stopover” for incorporation of Hungarian companies because all tax initiatives were cancelled. In 2010, the Hungarian law changed again and without any “extra” allowances it is now possible to establish business associations in Hungary as a Union member with a corporation tax rate of 10% that is one of the lowest rate in the countries of EU.

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