From 1 July 2008, the electronic submission of registration applications will become necessary when opting for the simplified company registration procedure. This should allow registering a company within one hour. Decision makers do not only suppose the considerable quickening of procedures but also cost savings and service quality improvement. It has been possible to submit applications for company registration electronically since July 2006 in Hungary. Within the framework of the simplified company procedure and thanks to a sample contract, it has thus been possible to register a company with extensively reduced fees.