Insights and news

Restrictions for acquisitions of strategic companies incorporated in Hungary

As part of the “economic protection plan” introduced by the Hungarian Government as an answer to the COVID-19 epidemic the Government Decree Nr. 227/2020. (V. 25.) (hereinafter: “Decree“) established temporary measures for special transactions related to strategic companies incorporated in Hungary. On the 16th June 2020 the Government ended the state of emergency, however, the…

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The COVID-19 measures of the Hungarian Government and their effects on non-residential lease agreements

With regard to the COVID19 epidemic the Hungarian Government has prog­ressively implemented certain restrictive measures that may have an impact on the use of commercial stores. Let us provide you a brief summary below on the implemented measures and the affects thereof on non-residential lease agreements. The measures of the Government On March 17, 2020,…

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New system of the building authories

From 1st of March 2020 significant changes will occur in the field of construction law concerning the structure of the competent building authorities. Within the framework of the changes, from the above date the previously first instance building authority, namely the notaries of the municipal government (district centre), the notaries of the municipal government of…

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New ‘Plaza-stop’ rules

1. Recitals – Plaza-stop I. The so-called plaza-stop I. rules were effective as a part of Act LXXVIII of 1997 on the Formation and Protection of the Built Environment (hereinafter: “Act”) from January 1, 2012 until January 1, 2015, according to which rules the construction of any commercial buildings above gross area of 300 sqm…

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Labor safety

The compliance deadline (January 8, 2017) defined in the amendment (Act 79 of 2016 on the harmonization of the employment legislation) of the Act 93 of 1993 on Labor Safety (Mvt.) which brought significant changes regarding the workers’ representatives, will expire soon. Since Juli 8, 2016 a workers’ representative for occupational safety shall be elected…

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Changing corporate laws

As of March 1, 2012 regulations of corporate law have been changed again by the legislator. We would like to briefly summarize the most remarkable corporate law changes for the companies’ decision makers: the attorney’s seat service supply for companies will not be possible anymore (further seat service cannot be provided, although the already provided…

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New rules for payment order procedure

Pursuant to Act No. 50 of 2009 on the payment order procedure (fizetési meghagyásos eljárás), from the 1st of June 2010, it is a notarial power to enforce due pecuniary claims in payment order procedures. The goal with the new regulation was primarily to relieve the ordinary courts, since more than 400 thousand of these non-litigious procedures were conducted in front of the courts in every year….

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Amendments to the Condominium Act

As one of the most interesting changes of the Hungarian Condominium Act from a real estate developer’s aspect, the condominium representative (közös képviselő) may not act in the name and on behalf of the condominium during the various proceedings of the building authority. As a consequence, in the future the building authority shall notify each condominium member having a client status in the building/occupancy permit proceeding separately and thus the period opened for the appeal or waiver of the right to appeal will commence at different dates in case of each owner….

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New taxation on the cafeteria system

The benefits in kind (cafeteria) system has been subject to significant changes as of 2010. Even if most of the changes have an unfavourable impact on the employees (and vice versa: the changes will probably lead to an increase of the state budget), professionals consider that the employers still should implement some sort of cafeteria system instead to pay the amounts allocated for such purpose as part of the base salary….

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