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…
This article deals with both governmental and non-governmental support to startup companies in Hungary. Special focus is also paid to the mitigation of COVID-19 pandemic. 1. Governmental support of the startups The startups in Hungary have various opportunities to obtain help from either Government or other funds. In the conditions of Hungary, works one organization called Young Entrepreneurs Association Hungary (Fiatal Vállalkozók Országos Szövetsége or FIVOSZ). FIVOSZ provides information related…
Accommodation in Hungary is an essential condition to get residence permit and visa as well. This article provides you information on eligible premises and the documents most commonly accepted as proof of accommodation. I. Why do you need to arrange accommodation? When you apply for a Hungarian visa or residence permit the authorities will ask you to submit proof of accommodation. The reason behind this requirement is that the authorities…
After a certain period of staying in Hungary the possibility of permanent residency may arise. One way to achieve this is to apply for an EC permanent residence permit the major features of which we attempt to summarize in this article. 1. Permanent residency in Hungary The relevant legislation defines the scope of third-country nationals who are considered residents in Hungary as the ones in possession of either an interim…
Naturalization is one of the titles of the acquisition of Hungarian citizenship, which is available for non-Hungarian individuals who have not previously held Hungarian citizenship. There are additional types of naturalization due to the fact that, in some cases, the legislation provides preferential conditions. Our article focuses on traditional naturalization and gives specifics on preferential cases as well. “There shall be no discrimination between Hungarian citizens on the basis of…
