Registration of a Corporation in Hungary
On submitting an application to incorporate, the following details should be provided:
In Hungary, when registering a company, it automatically becomes a member of the local Chamber of Commerce.
Further Registration of a Company in Hungary with Various Authorities
Apart from submitting the above documents for registration, the company must register with the following bodies:
A General Partnership (with the letters KKT added after the name of the Partnership)
All the partners bear unlimited liability in all that concerns joint undertakings. It is important to point out that according to Hungarian Law, a partnership of any sort whatsoever is not a separate legal entity.
A Limited Partnership (with the letters BT added after the name of the Partnership).
At least one of the general partners has unlimited liability for the joint obligation, the other partners bear only limited liability. It is legally possible for the general partner to be a limited liability company.
A partnership, whether general or limited, is not allowed to be a partner with unlimited liability in any other partnership.
A Joint Stock Company (with the letters RT added after the name of the Company).
A company of this sort may be a private company or a public company that is traded on the Stock Exchange. A joint stock company may have a single shareholder, but its board of directors must have at least 3 members but no more than 11. The shareholders in a private joint stock company may appoint a CEO instead of a board of directors.
There is a legal requirement for a minimum share capital of HUF 20 million of which HUF 10 million or 30% of the capital (whichever is the higher) shall be paid in cash.
According to the Companies Law, banks, insurance companies and investment corporations must incorporate as joint stock companies.
A Limited Company (with the letters KFT added after the name of the Company)
As distinct from an RT company, a company of the KFT category may not raise capital from the public. The shareholders have limited liability. The minimum equity must be in excess of HUF 3 million, of which at least HUF 1 million or at least 30% of the total capital (whichever is the higher) must be paid in cash. Similarly, each shareholder must have a minimum share capital of HUF 100,000.
A KFT company with a single shareholder or a company with a registered share capital in excess of HUF 50 million is obliged to submit audited accounts.
|Company Formation and Registration Sites | Bulgaria Company Formation | BVI Company Formation | China Company Formation | Cyprus Company Formation | Dubai Company Formation | Estonia Company Formation | Germany Company Formation | Greece Company Formation | Hong Kong Company Formation | Hungary Company Formation | India Company Formation | Iran Company Formation | Ireland Company Formation | Israel Company Formation | Italy Company Formation | Japan Company Formation | Latvia Company Formation | Lithuania Company Formation | Malta Company Formation | Poland Company Formation | Portugal Company Formation | Romania Company Formation | Russia Company Formation | Slovakia Company Formation | Slovenia Company Formation | Turkey Company Formation | US Company Formation|
© All copyrights reserved