Obtaining Hungarian citizenship through simplified naturalization procedure

Foreign citizens who have never been Hungarian citizens before may acquire Hungarian citizenship by naturalisation. Persons who meet the necessary requirements may apply for simplified naturalization procedure. It is important to know, that when applying for Hungarian citizenship in the simplified naturalization procedure, it is a legal requirement to understand and communicate in Hungarian language on a sufficient level, and to be able to present the application independently and to…

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Different ways of getting a residence permit in Hungary

Hungary, especially Budapest had become a desirable destination for workers all around the world in the last decades, particularly since its accession to the EU in 2004. Costs of living in Budapest are relatively small compared to other european capitals, but the standards of living are definitely high enough to encourage workers and students to come here to work or study. If you plan to work in Hungary, but you…

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Business Criminal Law in Hungary

Regulating business criminal law is one of the most significant matters in Hungarian criminal policy. According to recent statistics, most crimes are commited againts property. Since the Hungarian business enviroment is very complex, it is necesseary to have an established knowledge about the relevant acts and crimes. 1. Main statutes The Act C of 2012 on the criminal code regulates the substative criminal law. The Act has two parts; the…

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Overview of the criminal procedure in Hungary

Hungary belongs to the continental legal system, which means that the sources of law are predominantly statutes. Case law is secondary compared to the statutes, as opposed to the common-law system, which gives primacy to judge made law. The two main statutes in connection with criminal law are the Act C of 2012 on the Criminal Code (substantive law), and the Act XIX of 1998 on the Criminal Proceedings (procedural…

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How to Rent a Flat in Budapest (For Expats)

Finding the right apartment when moving to Budapest is probably the most crucial thing in connection with your stay. Once you found your dream apartment in a convenient location with a trustworthy landlord on reasonable price the hardest thing is still ahead, signing the rental contract. Here are some tips on what to consider before signing the contract. First and foremost make sure you know and understand all the details…

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Taxation of Hungarian companies and private persons

Personal income tax and VAT were introduced into the Hungarian tax system in 1988. This was a first step in a long process of tax reform. The next major step, undertaken in 1991, was the modernization of the corporate income tax system. In 1993, the VAT legislation was further modified to conform, at least in principle, to the VAT systems used in the European Union. 1995 witnessed the introduction of…

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Incorporation of Companies in Hungary: General Regulations and Corporate Legislation

In order to harmonize the national law with the respective EU regulations as well as to establish a modern and comprehensive regulation of business entities, Hungary implemented substantial changes to its corporate law in 2013. The new Hungarian Civil Code (Act V of 2013 on the Civil Code) came into effect on 15 March 2014 that incorporates the fundamental regulations and obligatory rules for all economic entities. The Act V…

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Introducing Hungary – The logical choice for companies

Hungary is a member of the OECD and the NATO, part of the European Union’s internal market and the Schengen Area. Hungary became a full member of the European Union on 1 May 2004. Ten arguments why Hungary is the suitable investment location in Central Europe: 1. Great location in the heart of Europe 2. Dynamic economic growth 3. Business-friendly environment 4. Membership in the European Union and NATO 5.…

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Why is it a good investment to buy an apartment in Hungary?

Hungary is still considered as an attractive location for foreign investors. Buying a property may be the safest investment with an excellent return. Based on the report of Eurostat, the purchase prices of properties in the EU grew 4%, in the euro zone with 3% from January to March 2016 in an annual comparison. The highest growth was however produced by Hungary in January and March 2016, the purchase prices…

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Setting up a foundation in Hungary

Foundations are legal persons set up to pursue the long-term objective defined in the charter document. The founder shall define in the charter document the funds made available to the foundation and the organizational structure of the foundation. Therefore, the objective of the found doesn’t has to serve general interests, but –based on the Hungarian judicial custom -, the objective has to enable a persistent operation, that lasts longer than…

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