Company Foundation (PLC) Part 2

Founding a private limited company (PLC) in Hungary

(Part 2)

Foundation of a private limited company

Shareholders and capital may not be solicited for the foundation of a private limited company by way of public invitation. The articles of association shall, in addition to the generally binding content elements, stipulate the declaration of the founders concerning their commitment to subscribe for all shares, and on the division of the shares among themselves; the amount of the share capital, the number and nominal value or accounting par value of the shares to be issued upon foundation, and the type of shares; the procedure for calling general meetings, as well as the conditions and method of exercising voting rights; and the name of the first auditor.