Limited Partnership in Hungary
A limited partnership (bt) is a corporation formed to initiate joint corporate operations, where the general member has full responsibility for commitments not protected by the corporation’s resources. In contrast, a partial member is required to contribute his capital share as stated in the organization’s rules and not responsible for the business’s liabilities. These can be beneficial when one member merely desires to be a shareholder with no executive power or obligation.
The experts will assist you in writing down the guidelines for a restricted member and governing member.
Get started
Start by providing us with essential information about your corporate demands. In addition to assisting with costs and documentation, the legal representative also aids with the listing members in Hungary. Our business solution package includes:
- Prepare files for registration,
- Reviewing files before submission,
- Assistance in the costs and fees,
- Obtaining a tax id.
Limited Partnership registration conditions
The LLP has minimal investment restrictions and must be formed by at least two participants. (i) General member who administers and leads the company and is legally responsible for its duties, and (ii) Restricted member who is not liable for any operation. There are no registration or publishing costs associated with forming an LLP company.
Timeline
The business registration process can take up to 15 days in Hungary.
Fees
LLP corporations do not have a set registration price. However, lawyer fees vary depending on the services provided. To discover more about the service charges and costs, request a quote from our experts.
Compulsory regulation
An LLP must have a least of two participants to be formed, and the maximal number of members is 20. Only participation in corporate actions is required of the general partner. The restricted individual, on the other hand, has no freedom to vote in the firm’s management and is just necessary to invest in it.
Documents
To register an LLP association in Hungary, the following documents are required:
- State registration form,
- Partnership agreement [1],
- State certificates,
- Payment proof of certification fee,
- Statement of registration with the department of revenue,
- Sales tax license,
- Employer Identification number.
[1] The membership agreement is designed to describe some of the most critical aspects of the partnership, such as the operations in which the company will be involved, the brand and location of the company, and the partners’ standing.
Prepare the documents as mentioned earlier with the help of substantial support who gathers the relevant data, combines the files, digitalizes the papers, and then submits them to the authorities.
Consultation about Limited Partnership registration
Our consultation services for Limited Partnership registration aim to assist you throughout the entire process of starting your business in Hungary. From preparing the initial documents to acquiring required permits and registrations, our knowledgeable advisors will facilitate a seamless and effective experience. We offer tailored advice on legal obligations, share capital, and corporate structure to support you in making well-informed choices that correspond with your business objectives.
Ownership management
Overseeing the ownership of a Limited Partnership is a complicated yet essential responsibility. We offer services that involve managing ownership changes, handling beneficial owners, and facilitating ownership transfers. We make certain that all changes in ownership are adequately recorded and adhere to the most recent regulations.
Corporate structure changes
As your business grows, your corporate structure may need to adapt as well. If you need to alter directors, refresh nominee details, or implement other structural modifications, we offer extensive services to ensure these transitions are handled smoothly and effectively.
Share capital management
Managing share capital is essential for the financial well-being of your company. We provide services to assist you in increasing, decreasing, selling, and transferring share capital, making sure that every transaction is executed properly and complies with legal standards.
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