In November 2023, the Hungarian government published a law on the entry and residence of third-country nationals. The law introduces various new residence permits and visa categories, with a new category of investment residence law being highlighted. The government has created a permit specifically for visiting investors, effectively providing a paid residency option for non-EU […]
In Hungary, navigating health insurance coverage can be complex, especially for certain categories of foreign workers. According to the Social Insurance Act (Act CXXII of 2019), specific groups of individuals may not be covered by the Hungarian health care system under particular circumstances. One such group includes foreign nationals affiliated with diplomatic missions or consular […]
As the landscape of employment continues to evolve, with an increasing number of individuals working remotely across borders, it becomes imperative for businesses to understand and navigate the tax and social security obligations associated with such arrangements. Particularly, for Hungarian limited liability companies employing individuals residing abroad as teleworkers, several considerations come into play regarding […]
On social media platforms, there are often companies present that typically create content to promote their own products and services. In some cases, businesses generate significant revenue by producing popular content, even if showcasing their own products is not their primary goal. These platforms have the common feature of providing income to content creators after […]
Foreign citizens who hold executive positions are considered as entrepreneurs, and if they are not retirees, they are generally subject to social security contributions in accordance with the general rules. However, regarding entitlement to social security benefits and the coverage of these benefits, as per Section 3(b) of Act CXXII of 2019 on social security […]
The amendment regarding contributions from airlines and certain tax laws was adopted by the National Assembly on July 4, 2023. Changes related to personal income tax: According to the amendment, it is now considered a sale if, based on a trust fund management relationship, the settlor transfers property owned by them into trust management (this […]
The change regarding the EU-level VAT exemption is expected to enter into force from 2025. The purpose of the amendment is to reduce the administrative burden on small and medium-sized enterprises, as well as to create a tax environment that promotes cross-border trade for this group of entrepreneurs and bridges the differences in the regulations […]
Before the coronavirus pandemic, personal meetings were essential during the work of a lawyer, especially in the case of transactions requiring a countersignature – such as real estate sales, company founding and registration of company changes. The first step in the client relationship is client due diligence, during which the lawyer collects the client’s data […]
The International Monetary Fund (IMF) has bumped up its projection for Hungary’s economic growth in 2022 to 5.7 percent, among the highest in the region, according to the finance ministry. Finance Minister Mihály Varga, attending the annual meeting of the World Bank and IMF in Washington, DC, said the current period was very different compared […]
The government is preparing for the post-war situation by working to keep the economy on a trajectory to catch up with more developed economies, the employment rate at the current level and to draw further investments, Finance Minister Mihály Varga said on Monday. Varga told a crisis management conference of the Budapest Chamber of Commerce […]
