On 12 December, the Hungarian Parliament passed a law to re-regulate the residence of third-country nationals in Hungary. One of the most exciting new features is the introduction of the guest investor visa and residence permit, which is already known as the “Hungarian Golden Visa”. In this article we briefly look at what it is […]
“With migration on the rise again, we need a stricter immigration policy!” Reads the preamble of the law adopted by the Hungarian Parliament on 12 December to re-regulate the residence of third-country nationals in Hungary. We have set the mood with the quoted sentence, now it is time to see what it is all about. […]
Basically, with a few exceptions, such as agricultural land, non-Hungarian citizens are free to buy property in Hungary. However, the obstacles faced by nationals of different countries differ as to whether a special permit is required. Cases where no special permit is required for non-Hungarian citizens to purchase real estate. The following cases do NOT […]
Fiduciary trusts as a legal institution are one of the latest steps in the development of Hungarian civil law. Since their introduction in 2014, they have become more widely used and more widely known. We would now like to present the legal background of this legal instrument, focusing more on the person of the trustee. […]
After a lengthy debate, the Hungarian Parliament has passed the law on additional taxes to ensure a global minimum tax level and, in this context, amending certain tax laws, putting an end to the case. Before we start getting angry that another tax has to be paid by our company, let’s clear: we don’t have […]
The mandatory minimum amount of basic pay (minimum wage) changes in an unusual way during the year – from December 1st, 2023. The minimum wage from the December 1st of 2023 HUF 266 800 for monthly wages Guaranteed minimum wage for an employee in a job requiring at least secondary education or training HUF 326 […]
STEP DIRECTORY – HUNGARY professional licensed trustee ad-hoc trustee Type of trust Revocable, testamentary or inter vivos, discretionary or non-discretionary, private or charity Revocable, testamentary or inter vivos, discretionary or non-discretionary, private or charity Who can be settlor Anyone (corporate or private, local or foreign) Anyone (corporate or private, local or foreign) Limitation of […]
Personal Income Tax From 12 September 2023, the Hungarian Personal Income Tax Act will consider the transfer of assets as a sale. This means that the settlor will have to pay tax on the difference between the contract value of the assets transferred and the amount spent on their acquisition. The trustee will have to […]
On 24 July 2023, the so-called Complaints Act came into force, which covers a wide range of employers, so we have gathered the most important questions and details about the so-called whistleblowing system. The new law repealed the ‘old’ law, which was Act CLXV of 2013 on Complaints and Public Interest Disclosures. The new Complaints […]
The Hungarian Gazette of 14 July 2023 contains the provisions of the bill submitted on 6 June, which have now been incorporated into law. In the Act on the Contribution of Airlines and on the Amendment of Certain Tax Laws, we can observe changes affecting almost all tax types, several of which will significantly affect […]
