Proof of Concept (POC)

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…

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How to establish a foundation in Hungary

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…

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Information on the procedure of TSZSZ (Experts’ committee concerning construction work disputes)

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…

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Taxation in Hungary

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…

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Accommodation guide for residence permit applicants

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…

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EC permanent residence permit

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…

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Acquiring Hungarian Citizenship by naturalization

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…

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FAQ – Hungarian Immigration Law (VISA, Residence Permit etc.)

In this article we collected the answers to the questions often occurring regarding Hungarian immigration procedures and immigration law. If you are thinking about staying in Hungary – whether short or long term – we believe you will find this list useful. Before you jump onto the list please note that immigration law in Hungary is a complex field of law and each type of visa, residence permit and permanent…

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Doing Business in Hungary – 5 Most Important Legal Facts

In its recent economic survey of Hungary, the Organization of Economic Cooperation and Development (OECD) highlights a convincing picture of the country’s economic achievement. New Civil Code in Hungary Act V. of 2013 on Civil Code (New Hungarian Civil Code) came into force on 15/03/2014, and it implemented some fundamental changes in the Hungarian private law system. The New Hungarian Civil Code is based on the most recent EU standards,…

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Verifying the purpose of residence

The purpose of the stay is an important aspect of residency in Hungary for third-country nationals.  It is not only required by law to justify the purpose of entry and stay but from a practical point of view it is essential for choosing the right forms to submit. Attaching a birth certificate is reasonable for family reunification purposes but that would be of no use proving employment relationship. In this…

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