Higher share capital threshold could mean end of thousands of ‘kft.’ companies
Several thousand Hungarian limited liability companies, designated by the abbreviation “kft.”, could be wound up if they fail to meet a higher requirement for minimum share capital by the deadline on March 15, the spokesperson for the Budapest Municipal Court told Hungarian news agency MTI.
The deadline for meeting the new threshold, raised from HUF 500,000 to HUF 3 mln, was earlier extended by one year, said Anna Madarasi. In Budapest, about 60,000 companies have complied with the new rule. A further 28,000 must still do so.
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