OUR LATEST POSTS
It’s been almost a year since the obligation to report certain acquisitions of property by foreigners in Hungary was introduced. Since May last year, foreign persons can only acquire interest of a value exceeding one million EUR in strategic companies subject to reporting and the Ministry’s acknowledgement. Though at first, many had reservations regarding this authorisation obligation, which is based on the Italian practice and is one of the strictest regulations in Europe, by now it has become a concept integrated into the company acquisition market. We have summarised the experiences of the past one year.
While there were still as many as 60 types of tax in Hungary five years ago, this number was reduced to 54 by the end of last year. This process was interrupted by the recent introduction of crisis taxes. It remains to be seen whether this trend will now be reversed.