Eventhough the increasing Hungarian property prices more and more private foreign investor buy luxury and commericial real estates in Hungary. Becuase of the relatively good ROI and devaluated Hungarian Forint. Find more information about the most efficient trust and corporate structures for real estate investment in Hungary. The private investors have to pay 15% personal […]
Legal aspects of the transfer of managed assets between the UK and Hungary : is the acquisition of real estate in Hungary by any UK resident (legal or natural) subject to authorisation? Own the property through SPV or directly by the trustee? After the end of the Brexit transition period (31.12.2020), UK natural and legal […]
Hungary is relatively new entrant to the tax planning market thereafter the tax advantages for non-resident companies ended in y2005. The holding company regime is not the most flexible. The company management is not the cheapest and not the less bureaucratic in Europe. But with proper plannig and advice the HU Holding Company can function […]
PROBATE PROCESS The local authority of the deceased person’s last place of residence is responsible for preparing the probate proceedings, but they are conducted before the appointed probate notary. All interested parties are obliged to attend the probate proceedings. The procedure is usually governed by the deceased person’s testamentary will or by the applicable legal […]
Under Hungarian law, entities may be natural or legal persons and associations of persons without legal personality. From an estate planning perspective, the main types of companies (legal persons) in Hungary: general partnership limited partnership limited liability company limited company by shares (public or private) The most popular Hungarian legal entity that trustees of a […]
On 4 July 2012, the European Union adopted Regulation (EU) No 650/2012 of the European Parliament and of the Council of 4 July 2012 (the European Succession Regulation) The Regulation applies to deceased testators from 17 August 2015. The aim of the Regulation is to ensure that persons involved in international succession matters, in particular […]
The companies fulfilling the conditions or newly formed companies and branch of foreign companies are also able to choose this special taxpayer status since y2013. The tax rate of the small business tax (SBT) is 10% in y2022. Since the minimum tax base is the annual labour cost (wages, bonuses, etc.) and the distributed dividend, […]
The Central Registry of Ultimate Beneficial Owners goes live in Hungary next year (2022) years after the deadline set in the AMLD4 and AMLD5.To enhance of transparency in the name of anti-money laundering and counter-terrorist financing the AML Directive of the EU required the member states to maintain public record of ultimate beneficial owners (UBO). […]
The companies fulfilling the conditions or newly formed companies and branch of foreign companies are also able to choose this special taxpayer status since y2013. The tax rate of the small business tax (SBT) is 16% in y2016, 14% in y2017, 13% from y2018, 12% from y2020 and 11% from y2021. The minimum tax base […]
Since 2017 it is only possible ( and highly recommended) to use billing softwares that complies with the new requirements and forward the details of the issued invoices real-time to the tax authority. The price for the misconduct would be high, up to HUF 500 000 per invoice. Since January 2017 developers of billing softwares […]
