I don't know if there is any other place in the world, outside Hungary, where you have to specify the scope of activities in such detail. In Europe, they register the activities of companies, but they tend to classify them into a few categories.
Different rules apply to offshore companies. They can carry out any activity that does not require a licence. Licensed activities are generally all financial activities, where third party funds are managed, healthcare, banking and insurance, and adult industry in all forms is absolutely prohibited. However, there is no established organisation for the control of these activities, no specific control authority. If, in the course of incorporation, the chosen company name is used to infer an activity that is prohibited or subject to authorisation, the registry will always be consulted before registration.
However, the lack of control should not be abused, as the total absence is not entirely true. The business world has undergone an interesting change over the last decade. The change is embodied in the presence of banks. Whereas financial institutions used to be responsible for looking after and managing money, they now have a full control role. From the very beginning of the relationship, at the time of opening an account, they scrutinise the company's activities, ownership structure, partners and even transactions. A few years ago, such checks were confined to certain banks, but now they cover every single institution in the banking world (as individuals, we are less likely to be subjected to them, but we are still watched).
As an example of the above, I recently had a personal case where a transfer of €5,000 to a UK bank, initiated by me as an individual, was refused by the bank. After a week, I got the money back into my account, citing the bank's internal policy, less the cost of the transfer, of course.
To summarise the above, if a company wants to engage in an activity that is not in line with the rules, it will most certainly be prevented from doing so, if not by an external authority, then by the bank.
I hope I have provided a satisfactory answer to your question and some additional information. If you have any further questions or thoughts, please contact us!