Summary 23 posts
The tasks pertaining to the preparation of the annual financial statements and the year-end closing place a considerable burden on the accounting and tax professionals of Hungarian companies, who must also keep in mind the legal implications and obligations related to the year-end closing. Let\'s take a look at the legal tasks involved in the preparation of the financial statements and the year-end closing.
Read moreFiduciary trusts (“bizalmi vagyonkezelés” in Hungarian) have spread in the past few years. In recent years, trusts offering complex wealth management solutions have become increasingly popular in Hungary as well, with the number of managed asset accounts exceeding one thousand by February 2024. A legislative amendment contributed significantly to the increase in the number of trusts in 2023: the abolition of the tax-free placement of assets by private trustors encouraged many wealthy individuals to set up trusts before autumn 2023.
Read moreRSM\'s family lawyers often find that when it comes to business property, spouses cannot decide: who owns the \"company\"? Do the spouses own the business shares jointly or separately? In the case of a business share, it would be easy to define ownership as \"in whose name it is held\", but the question is more complex in the case of matrimonial property.
Read moreAlthough in Hungary many people shy away from the idea of a prenup for emotional reasons, it is irresponsible for couples who run a joint business not to consider a negative scenario. Not only can costly and protracted litigation be avoided in divorce by a prenuptial property agreement, but the future of the family business could well depend on it. The number of contracts designed to protect family assets registered in the Register of Matrimonial and Cohabitation Property Contracts is increasing every year.
Read moreRepresentatives of some foreign companies often contact us asking about the foundation of a company in Hungary. Last time, we had a meeting in the morning, and the next working day, we presented the documents of a limited liability company with court registration and a bank account to our partner. Of course, starting a company is not always as fast as that. It requires preparation and quick decision by the client.
Read moreChanges to the rules on teleworking: the agreement of the parties may be more important
Read moreThe rules of compulsory strike-off procedures are relaxed from 1 July 2021: in certain cases, companies may request the termination of the procedure with regard fulfilment of the conditions of continued operation of the company.
Read moreThe Hungarian Energy and Public Utility Regulatory Authority has published the 2021 green premium tender. Power plants producing electricity from renewable energy sources will be able to apply for price support this summer for a period of 15 years.
Read moreThe state of emergency introduced due to the second wave of the coronavirus pandemic urged to make the rules of remote work clear or at least make it more flexible. One of the newest decrees of the government aims at filling this void now.
Read moreThe Hungarian Energy and Public Utility Regulatory Authority has published the 2020 green premium tender. Power plants producing electricity from renewable energy sources will be able to apply for price support this autumn for a period of 15 years.
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