092513_MangosCorpoPaper

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-



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”

http://www.doingbusinessinhungary.com/some-important-laws-applicable-to-business-associations














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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092513_MangosCorpoPaper