It is absolutely imperative to comply with all legal and statutory norms for private trustees to operate successfully in Hungary. This often involves significant investment of resources, time, and continuous monitoring to be in the know of all the changes that are happening, in order to be compliant and avoid penalties.
With the ever-changing employment laws, it becomes a challenge for individual trustees to keep themselves compliant. What these organisations need is reliable trust compliance services from an experienced provider.
To ensure timely and efficient statutory compliance in your organisation, the following aspects must be in place:
- Unrestricted access to local and regional expertise
- Expert support during all tax audits and regulator’s inspections
- Following ethical practices
- Knowledge of timelines for adherence to the relevant laws and regulations
- Updated documents and data in a centralised location, and which are readily available
As you can imagine, this takes a lot of effort and investment in terms of both money and manpower. Not every organisation can afford to or even want to spend so many resources in ensuring compliance. Nonetheless, it is absolutely vital for a business to be compliant to all the laws of the land.
If trust compliance outsourcing to an experienced firm such as AIRON, you can ensure compliance without having to hire lawyer, accountant, compliance expert for it. Our clients find that our trust compliance services are an ideal solution to be compliant in all aspects of statutes, trust and anti-money laundering laws.