Vállalat

Vállalat is the Hungarian term for an enterprise or business entity that carries out economic activity with the aim of earning profit. It denotes a structured organization that operates under defined rules and governance, as opposed to a sole trader who operates as an individual.

In Hungary, a vállalat can take several legal forms. The most common are the korlátolt felelősségű társaság (Kft., a limited liability company) and the részvénytársaság (Rt., a joint-stock company). Other forms include a betéti társaság (Bt., a limited partnership) and a közkereseti társaság (Kkt., a general partnership). Everyday language may also refer to a vállalat as a broad concept of a business, but egyéni vállalkozó (sole proprietor) is technically a different legal form.

Formation and registration typically involve registering the entity with the Court of Registration (Cégbíróság) and the relevant tax authorities (NAV), drafting governing documents such as the alapszabály or the társasági szerződés, and appointing management. Some forms have capital requirements and require ongoing corporate governance procedures, such as shareholder meetings and statutory reporting.

Governance structures vary by form. In a Kft., shareholders elect managers or a managing director; in an Rt., a board of directors can be used alongside a supervisory body and a general meeting. Partnerships (Bt., Kkt.) have partners with different rights and obligations. Larger or publicly traded enterprises may also be subject to additional regulatory oversight and disclosure requirements.

Vállalatok contribute to the economy by producing goods or providing services, employing workers, and generating tax revenue. They are subject to corporate income tax, value-added tax, and financial reporting requirements, with obligations scaling to size and activity.