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8/20/2019 092513_MangosCorpoPaper
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Jolykha Toa L. Sanchez
4LM
GENERAL CORPORATION LAW: HUNGARY
A.Basic Country Facts
a.Capital: Budapest (SOURCE: Business Guide for Hungary)
b.Important Cities (SOURCE: http://www.travbuddy.com/Gyor-
travel-guide-995785)
i.The capital of Hungary,Budapest is considered one of the
most popular tourist destinations in Europe. Straddling the
mighty Danube River (at its most beautiful here), the city is
full of parks, museums, and impressive architecture ranging
from baroque, neo-classical, art nouveau and beyond. It is
easy to see why more than 20 million people are drawn here
every single year.
ii.Siofok is a town on the Southern side of Lake Balaton in
Hungary. This city is popular for tourist, because it is one of
the most popular holiday destinations in this country.
iii.Győr is the city that has always been a commercial centre at
the crossing of important roads, railways and rivers. In the
last century it became one of the most important industrial
centers (machine, textile, food and building industries).
Today the city has a population of about 140,000 and, due to
its geographical situation, favorable infrastructure and
human capital, it is the centre of the most prosperous region
in Hungary after Budapest.
c.Population as of 2010: 9,942,000
(SOURCE:http://gotohungary.com/en_GB/general-
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information/-/content/13008/1/hungary-general-information-
about-hungary)
d.Kind of government: Parliament Democracy (SOURCE: Business
Guide for Hungary)
e.Membership in the UN and WTO: EU Member since May 1 2004
with neighboring countries Austria, Croatia, Romania, Serbia,
Slovakia, Slovenia, Ukraine (SOURCE: Business Guide for
Hungary); a member of the United Nations since December 1955
and member of the World Trade Organization (WTO) since 1996
(WIKIPEDIA)
B.Definition of Corporate Law in Hungary versus Philippines
a.Hungaryhttp://www.doingbusinessinhungary.com/some-
important-laws-applicable-to-business-associations
b.Similarities
i.
ii.2.2.2. Types of business associations” OF ABOVE LINK
c.Differences
i.
ii.“2.2.2. Types of business associations” OF ABOVE LINK
C.Requirements to comply with in order to establish corporation inHungary
http://www.doingbusinessinhungary.com/some-important-laws-
applicable-to-business-associations "2.2.3. Foundation of a business
association"
D.Foreigners allowed/not allowed to conduct business by means of foreign
corporations; its features
a.http://www.doingbusinessinhungary.com/some-important-laws-
applicable-to-business-associations “2.1. Branch offices and
commercial representative offices of foreign business
associations”
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E.Will I (Jolykha) or will I not engage in any business in Hungary? Why or
why not
I will because I’m a fatty carabao mango.
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