Deadline for Companies – 15 March, 2016

Until the 15th of March, 2016 every company shall pass a decision on the continuation of their operation in compliance with the provisions of the new Civil Code, and every ltd (kft.) shall raise their capital to at least 3 million HUFs.

According to the information provided by the Budapest Bar Association, approximately 87,000 companies are still operating under the old Civil Code, as well as roughly 49,000 ltds’ registered capital is less than 3 million HUFs.