Hungary has achieved significant development in the film industry over the past 20 years, and today, Budapest stands as one of the most popular filming locations in Europe. Several factors contribute to this success, including beautiful and diverse settings suitable for representing various historical eras and cities, a skilled and…
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INTERNAL WORKPLACE WHISTLEBLOWING SYSTEM: NEW OBLIGATION FOR EMPLOYERS
The Hungarian Parliament has adopted Act XXV of 2023 on the notification of violations, also known as the Complaints Act, which will come into force on July 24, 2023. Under the new legislation, companies will be required to adopt and operate an internal whistleblowing system through which employees, contractors, subcontractors,…
Director’s liability under the Hungarian Civil Code
Directors’ liability according to the regulations of the Hungarian Civil Code effective since March 15, 2014, in comparison with the former legislation.
Establishment of companies in Hungary – limited liability company and private company limited by shares
Limited liability company (Korlátolt Felelősségű Társaság – Kft.) Kft’s are founded with an initial capital consisting of capital contributions of a pre-determined value. The obligation of the members is limited to the provision of their initial capital contribution, and of other contributions set out in the memorandum of association. The…