Author: Vajk Varai-Jeges

Accounting Rules Will Change at the Beginning of 2023 – Is Your Company Prepared?

As of 1 January 2023, the Hungarian Accounting Act (Act C of 2000) was amended in more than forty places, together with Government Decree No. 479/2016 (XII. 28.) on the specific reporting and bookkeeping obligations of certain other organisations subject to the Accounting Act. Among the newly introduced changes, there are provisions for which businesses […]

Ready, Set, Go! Hungary Opens the Online Sports Betting Market

Online sports betting providers from other EU Member States are already at the starting line: Hungary is abolishing the state monopoly on the online sports betting market and, from 1 January 2023, will allow free market access for providers from the European Economic Area. So, will everything be simple now? In gambling law, too, prevention […]

NZP Legal Academy

After many years of lecturing at universities, bar associations, the German Lawyers’ Institute, foreign chambers of commerce and industry, and other professional training institutions, establishing our own NZP Legal Academy was a natural next step. Tailored to the specific needs of your company and drawing on extensive lecturing and practical experience, we train and sensitise […]

Cost-Effective Updating of Old Contracts or General Terms and Conditions

You do not always have to reinvent the wheel. In business practice, it is often more cost-effective and sensible simply to adapt and update purchase, supply, distribution agreements or general terms and conditions already in use in individual points to reflect changed circumstances or market risks. This is particularly the case where the contract used […]

It Has Never Been Easier to Convert a Hungarian Kft. into a German GmbH

As of early September, the cross-border conversion and relocation of companies has become simpler thanks to the new European Union directive-based regulatory framework. The newly transposed rules, which are set out in the provisions of Hungarian Act CXXIV of 2021 (the “Act”), have been applicable since 1 September 2022. The previous rules on conversions: Until […]

Entry of Korean Citizens into Hungary for Employment and Tourism Purposes

Employment in Hungary A Korean citizen may obtain a residence permit for employment purposes if the purpose of their stay in Hungary is to perform actual work for, or under the direction of, another person for remuneration by establishing an employment relationship. This also includes an employment contract concluded with an executive officer or any […]

Hands Off E-Drums

A Tyrolean resident sued his neighbour for an injunction on the grounds that the neighbour’s son was playing e-drums, which he considered to constitute a noise nuisance. As Section 364(2) of the Austrian Civil Code provides, the owner of a property may successfully bring an action for an injunction if the effects emanating from a […]

Attention Austrian and German Limited Shareholders!

Brexit has not only had economic consequences; it has also brought a wide range of implications for company law. In its recent case law, the Austrian Supreme Court held that British companies with their administrative seat in Austria lose their legal capacity after Brexit (27 January 2022, 9 Ob 74/21d). The Austrian Supreme Court thereby […]