Hungary: Change in registered office services
By virtue of a ministerial decree which entered into force on 1 July 2017 (the “Registered Office Services Decree”) an entity providing a registered office address service and the entity receiving the service must enter into a written service contract or another type of agreement regarding use. The contract cannot be limited to a specific period of time unless the customer wishes this. Only a property which is fully owned by the service provider or for which its right of use is registered in the land register can be used as a registered office.
The Registered Office Services Decree details the contents of the contract between the parties and the infrastructure requirements (such as storage or signboards). During the time of the use of the registered office the company providing the service receives the customer’s documents and must inform the customer of this within one working day. The Registered Office Services Decree also covers existing service contracts, which according to the regulations have to be adjusted by 31 August 2017 at the latest. If the provider of the registered office fails to comply with the requirements of the regulations, the contract/legal relationship must be terminated. If the contract between the parties is not already in written form, it must be set down in writing. The provisions of the decree do not apply to the parties if the contract ends by 31 August 2017.