As of October, only a limited scope of corporate information will be available free of charge

The Parliament of Hungary has accepted the bill on the establishment of the state budget for 2020. As a part of this bill, Act V of 2006 on Public Information, Company Registration and Winding-up Proceedings has been amended as of 1 October 2019.

Previously, the company information service provided free and unlimited access (for inspection) to all (current or deleted) corporate data, including also the data included in any submitted company registration request/amendment registration request, electronically recorded but not yet registered. According to the amendment mentioned above, such free access will be provided within the frameworks defined by the law, through the website of the company information service dedicated to this purpose, following an identification process of the data requesting person. The freely accessible corporate data will be limited to the company’s name, registered seat, registration number (European Unique Identifier (EUID), if any), main business activity, the data of the company representatives and whether the company is subject to winding-up, liquidation or compulsory dissolution proceeding. Furthermore, the number of requests that may be submitted for free of charge in any month will be limited.

Thus, the date of the company’s registration, the date of the memorandum of articles, the company’s additional business activities, registered capital, the auditor’s and supervisory board members’ data, the company’s statistical code, tax number, bank account numbers, electronic contact details and the members’/owners’ data will be excluded from the scope of data available for free.

Hence, from October the possibility to download a free corporate extract (comprising the company’s ’stored’ data) from the Companies Register will be replaced with the ’provision of online, real-time corporate information’. The monthly number of free access to this narrowed range of corporate information will also be limited; furthermore, any access will be subject to the identification of the requesting person. The full range of a company’s data will only be available against the payment of a certain fee.

In addition to that, the amendment of the law also introduces a new, free service: the companies will receive electronic notification of each modification of their data entered into the company register. Furthermore, the company information service will send a corporate extract (issued as a public document in electronic form) to the company’s official electronic mailing address once in each month, free of charge.