More Companies De-Registered In Hungary
- 16 Dec 2015 8:00 AM
Some 44,700 companies have been deleted from the official register this year, 4% more than last year, website feketelista.hu reports. More companies were de-registered than created in all 19 counties. In Budapest, twice as many, 20,534, companies were removed from the list as were added.
The main factor is a regulation that allows the Court of Registry to delete companies that have not supplied their annual accounts, without the right of appeal.
Economists contend that there are still too many companies. One reason is that, of 565,144 companies registered, more than a third, 194,000, are not functional, but exist only on paper.
Source: Hungary Around the Clock
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