Residence permit for the purpose of family reunification Who is eligible to apply for a residence permit for the purpose of family reunification: A third-country national who has a spouse who is a Hungarian citizen or who has a proven cohabiting relationship with a partner of the same sex. Registration of marriage in Hungary: The Hungarian citizen is obliged to initiate this procedure, but the application for registration can be…
The most typical type of residence permit, of which most are issued in Hungary, is a work and study permit. For residence permits for work purposes, the most basic documents are required: These two documents are the responsibility of the employer. In the event of failure to declare the need for labour, the National Directorate General for Aliens will take a negative decision. The reason for this will of course…
Key sectors in Hungary: automotive, battery, business service centres, electronics, information and communication technologies, food industry, life sciences, logistics, and medical technologies are considered to be industries in which Hungary actively invites investors. More than 170 000 people are employed in the automotive industry. 1. Key information More Hungarian firms are engaged in international trade than is typical across the EU (70% versus 63%). Manufacturers (92%) are far more likely…
In general, greenfield investment is referred to as one of the types of foreign direct investment, which includes the most significant number of risks. This is because the investor needs to create a production chain from the very beginning. While it can offer numerous advantages, such as greater control, the potential for long-term growth, and a large profit percentage, there are several risks associated with greenfield investments. 1. Political and…
Have you ever been curious whether your idea or solution is valuable and if it would be worth turning into reality? Have you ever wondered if there was a tangible verification which could prove the potential of an idea or solution? To answer these questions, today, a number of businesses and companies choose an exercise called Proof of Concept (POC). In this guide we will explain what POC is and…
Definition of foundations According to Section 3 (378) Act V. of 2013 (hereinafter: Civil Code); “ 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.” The foundation is established by the founder with the declaration contained in the charter document, but…
A designer, contractor or subcontractor may request the procedure of the TSZSZ (Experts’ committee concerning construction work disputes) if he has carried out the work under the contract but has not received the certificate of completion, or if he has received the certificate of completion but his invoice has not been paid. The client may also request the procedure if he does not consider payment of the fee due under…
The problematic of taxes can be crucial in any stage of business. A favourable tax structure can spare a fortune for your business and on the other hand, the mistakes made in tax declarations could lead to serious troubles. Therefore, it is in place to be extremely careful with preparation and choice of your tax consultant. In this article we shall focus on the bedrock of each country tax-system on…
In conditions of Slovak republic, the sanctions for violation of Regulation 2016/679 of the European Parliament and of the Council on the protection of individuals with regard to the processing of personal data and on the free movement of such data (hereinafter just “Regulation”) and of Act no. 18/2018 Coll. consist of a regular fine and a disciplinary fine. Article of Ján Mrázik – Faculty of Law of Comenius University /…
Hungary provides various elements that can be found helpful to your business. Starting with an ideal location nearby the capitals of Austria and Slovakia, Vienna and Bratislava, continuing with a growing number of startup accelerators, incubators and hubs, and finishing with lovely architecture and kind people. Not excluding the fact that various improvements have been recently imposed by the government, making it easier for startup companies to enter the market…
