JD Supra Hungary

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Latest documents

• Establishing a Business Entity in Hungary (Updated)

  1 COMPANY FORMS - The following company forms are available in Hungary: (i) general partnership (Kkt.); (ii) limited partnerships (Bt.); (iii) limited liability company (Kft.); (iv) private company limited by shares (Zrt.).

• Establishing a Business Entity in Hungary (Updated)

  1 COMPANY FORMS - The following company forms are available in Hungary: (i) general partnership (Kkt.); (ii) limited partnerships (Bt.); (iii) limited liability company (Kft.); (iv) private company limited by shares (Zrt.).

• Buying and Selling Real Estate in Hungary (Updated)

  KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HUNGARIAN LAW- 1. Types of real estate transactions - In the Hungarian market, the typical types of real estate transactions can be differentiated as follows. 1.1 Transfer of an undeveloped plot of land - Plots of land are often bought for the purposes of construction. In this regard, first and foremost the relevant Hungarian zoning and construction regulations should be previously checked, to ensure that the desired facility can indeed be developed on the given land.

• Establishing a Business Entity in Hungary (Updated)

  Since 1990, the Hungarian economy is based on the principles of market economy and considers the freedom of economic competition as a priority. On such basis, the regulation of business associations went through significant changes before evolving into its current form in Act V of 2013 on the Civil Code („Civil Code”). The current regulations entered into force on 15 March 2014, replacing the provisions of Act IV of 2006 on the business associations. Both pieces of legislation present a set of rules that is reliable and enables market participants to customise their companies to their respective needs.

• Buying and Selling Real Estate in Hungary (Updated)

  KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HUNGARIAN LAW- 1. Types of real estate transactions - In the Hungarian market, the typical types of real estate transactions can be differentiated as follows. 1.1 Transfer of an undeveloped plot of land - Plots of land are often bought for the purposes of construction. In this regard, first and foremost the relevant Hungarian zoning and construction regulations should be previously checked, to ensure that the desired facility can indeed be developed on the given land.

• Establishing a Business Entity in Hungary (Updated)

  Since 1990, the Hungarian economy is based on the principles of market economy and considers the freedom of economic competition as a priority. On such basis, the regulation of business associations went through significant changes before evolving into its current form in Act V of 2013 on the Civil Code („Civil Code”). The current regulations entered into force on 15 March 2014, replacing the provisions of Act IV of 2006 on the business associations. Both pieces of legislation present a set of rules that is reliable and enables market participants to customise their companies to their respective needs. Please see full Chapter below for more information.

• Vaccine Requirements – Hungary

  [co-author: Aron Mikos] Vaccine Requirements in Hungary - As from 7 March 2022, the Hungarian government has repealed most of the requirements, obligations and benefits relating to COVID-19 vaccination. Immunity certification is no longer required in day-to-day relations, such as at cultural, music or sports events etc. (save for the exceptions set out below). Mandatory use of face coverings is no longer obligatory, except for residential social care and healthcare institutions. i. Vaccination - Vaccination is still encouraged in Hungary. Children aged above five years of age are eligible for vaccines. Children aged between five and 18 can receive two doses of vaccines, and adults up to four doses of COVID-19 vaccines. A booster may be requested four months after the second or first dose (in case of a single dose) of the vaccine. It is also possible for everyone after four months from their initial booster vaccination to request a second booster. Hungary has approved a wider range of vaccines including EMA and/or WHO approved vaccines as well. In addition to the generally approved COVID-19 vaccines like Janssen, Comirnaty (Pfizer), Spikevax (previously Moderna) or AstraZeneca (Vaxzevria), Sinopharm vaccines and Sputnik-V are also approved in Hungary. Please see full Chapter below for more information.

• Establishing a Business Entity in Hungary (Updated)

  1 Introduction - Since 1990, the Hungarian economy is based on the principles of market economy and considers the freedom of economic competition as a priority. On such basis, the regulation of business associations went through significant changes before evolving into its current form in Act V of 2013 on the Civil Code („Civil Code”). The current regulations entered into force on 15 March 2014, replacing the provisions of Act IV of 2006 on the business associations. Both pieces of legislation present a set of rules that is reliable and enables market participants to customise their companies to their respective needs. Generally, the Civil Code allows greater flexibility for the founders of Hungarian companies when determining the contents of the company’s establishing documents. This is so because, as opposed to the compulsory provisions of the previous regulations, deviation is generally allowed from the relevant rules of the Civil Code, subject to certain limitations. Please see full Chapter below for more information.

• Buying and Selling Real Estate in Hungary (Updated)

  KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HUNGARIAN LAW - 1. Types of real estate transactions - In the Hungarian market, the typical types of real estate transactions can be differentiated as follows. 1.1 Transfer of an undeveloped plot of land - Plots of land are often bought for the purposes of construction. In this regard, first and foremost the relevant Hungarian zoning and construction regulations should be previously checked, to ensure that the desired facility can indeed be developed on the given land. Please see full Chapter below for more information.

• Register of ultimate beneficial owners is coming in Hungary too

  The ultimate beneficial owners’ (“UBOs”) register (“Register”) is introduced, as the 4th and 5th anti-money laundering EU directives have been implemented in Hungary as of May 22, 2021. The UBO Register will work as a central database and will be managed by the Hungarian Tax and Customs Authority (“TA”).

Featured documents

• Littler Global Guide - Hungary - Q4 2017

  New Law Clarifies Definition of Employee with Decreased Working Abilities - A new amendment of the Hungarian Labour Code defines the term “employee with decreased working abilities” by enumerating four different characteristics. Each characteristic, on its own, qualifies the employee as a person ...

• Dentons Private Equity Trends Monitor

  We are delighted to announce the launch of our Private Equity Trends Monitor, which provides with an up-to-date overview of the latest and anticipated trends across the European private equity sector in the wake of the COVID-19 pandemic. Our Europe Private Equity team is closely following the...

• Hungarian Court rules that UPCA cannot be ratified

  29 June 2018, the Hungarian Constitutional Court published its decision relating to the ratification of the UPC Agreement ("UPCA")....

• Competition Newsletter - More flexible approach to non-compete clauses related to investments in startups

  On June 19, 2020, the Hungarian Competition Authority (“GVH”) adopted a decision providing guidance for financial investors and startups. The decision was a result of follow-up proceedings related to an acquisition of joint control by capital funds over CodeCool Kft., an undertaking involved in the ...

• Hungarian bill on national security vetting of non-EEA purchasers in sensitive sectors

  A new draft bill in Hungary proposes ministerial approval for certain foreign direct investments into specific sectors. If adopted, the law may apply relatively soon – it may affect transactions set to close after 1 October 2018. Therefore, investors may already need to keep this bill in mind in...

• Employment Newsletter

  Update on recent developments in Hungarian employment regulations and on the human resources aspects of the current COVID-19 situation. On June 18, 2020, the Hungarian government lifted the state of emergency and the lockdown imposed in spring to combat the COVID-19 pandemic in Hungary, and...

• Littler Global Guide - Hungary - Q2 2018

  Supreme Court Protects Employees After Childbirth - Precedential Decision by Judiciary or Regulatory Agency - The Supreme Court recently clarified the dismissal protections for employees receiving treatment related to childbirth. ...

• Energy client alert – Extension of deadlines for the implementation of FIT and METÁR projects

  A recent amendment by the Hungarian Energy Authority affects the implementation of power plants licensed either under the mandatory off-take scheme with guaranteed feed-in tariff, i.e. the so called KÁT and METÁR KÁT (“FIT projects”), or under the green premium subsidy without a tender procedure (“M...

• New Hungarian legislation on national security vetting of foreign investors to apply from 1 January 2019

  On 2 October 2018, the Hungarian Parliament adopted a new law, which will require ministerial approval for foreign direct investment into specific sectors. The law, currently awaiting sign-off from the President and then publication, applies to transactions set to close after 1 January 2019. ...

• Buying And Selling Real Estate In Hungary (Updated)

  KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HUNGARIAN LAW - 1 Types of real estate transactions - In the Hungarian market, the typical types of real estate transactions can be differentiated as follows. 1.1 Transfer of an undeveloped plot of land - Plots of land are often bought for...