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Obligatory Change of the Articles of Association
Posted: 11.12.2012
Last updated: 11.12.2012
Author: Budapest Consultans Kft. - Márton Sütő
Tag: articles of association, Registry Court, delivery agent

There are only one and a half months till 1st February 2013, the deadline for changing company data published in the company register and add the ones prescribed by the new rules. Companies not complying with this obligation may face very high penalties; therefore, there is no reason for delaying with reporting the relevant changes.

There are only one and a half months till 1st February 2013, the deadline for changing company data published in the company register and add the ones prescribed by the new rules. Companies not complying with this obligation may face very high penalties; therefore, there is no reason for delaying with reporting the following data:
  • utilization license for company seat, branch offices and place of business,
  • delivery agent of a member and/or managing director without address /company seat in Hungary,
  • max. three-month-old Certificate of Incorporation with its authentic translation into Hungarian in the case of a member being a foreign company,
  • tax ID and place and date of birth of a private person as member and/or managing director,
  • tax number of a legal entity as member,
  • Articles of Association adjusted to the law changed meanwhile.

Companies having already a change registration (change of member or managing director or company seat, etc.) with Registry Court between 1st March 2012 and 1st February 2013 are exempt from this liability because the lawyer who managed the change registration has already complied with this obligation. For this process, no dues and no disclosure fee shall be paid (except for the updated Articles of Association not submitted in 2006), however, honorarium of lawyer has to be paid separately.

A penalty up to 900,000 HUF can be imposed to companies that fail to report these data. As of 2012, the Registry Court is obliged to take action against these companies; imposing penalty is not a punitive option only, it is an obligatory job. The Registrar can consider the rate of penalty only.

If you have not complied with this obligation yet, please contact our staff in order to discuss the necessary steps. 


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