People spend time daily on the internet for work, study, and entertainment, which calls for life e-commerce, offering a great possibility for businesses, since e-commerce is less costly than traditional methods.
I’ve been a transactional lawyer for 13 years, and the first time I encountered transactional insurance was in 2011. Until that point in time, the concept was only known to me based on mostly academic books, which depicted a rather skeptical picture of the instrument as a whole.
After long debate, the EU’s new and controversial Copyright Directive was recently adopted by the Parliament and the Council of the European Union. The directive is part of a wider EU copyright reform for the internet age, as part of its plans to create a digital single market.
Did you receive an offer for a new lease with more favorable terms than those of your actual lease? Do you need to move to a bigger office space but still have several years to go under your current office lease? In such cases, the termination of an existing fixed-term lease may be unavoidable. However, the termination could lead to disputes.
Nowadays, lots of businesses struggle to fill vacant positions due to a general workforce shortage. Could importing foreign workers be a solution? Below we look at some of the administrative and legal aspects of employing foreigners.
Employment posting questions emerge in both short- and long-term relations. In practice, long term-postings are usually handled by the HR department; however, short-term business trips and trainings that may get a lower emphasize also require due care from a taxation and administration perspective. In addition, the logistics sector also has some special treatments.
The Hungarian media has been abuzz with reports about major telecom acquisitions since last year. One of the major transactions is the intended acquisition by Digi of the retail and small business customers of its rival Invitel. Another exciting piece of news was the May 9 announcement by Vodafone Group Plc. of its purchase of UPC Hungary as part of a multistage acquisition of Liberty Global’s operations in Czech Republic, Romania and Germany. The whole process is expected to be completed by mid-2019.
As of December 3, 2018, the EU Geo-blocking Regulation will apply. The regulation is relevant for all traders actively offering their goods or services to end-users (both B2C and B2B) in the EU, regardless of whether the trader is established in the EU or in a third country (i.e. a non-EU Member State).
Governments and industry recognize that Artificial Intelligence (AI) is opening up transformational opportunities in all areas of human activity. At the same time, it poses unique risks: ethical, legal and regulatory challenges. These issues need to be carefully addressed in Hungary as well. The scope, speed and nature of the response will have a significant impact on the success of AI.
The Hungarian Parliament has adopted new rules on the real estate investment trust (“REIT”), supporting the establishment of more such entities. Between 2011 and 2017, the concept of REITs did not live up to expectations in Hungary, so the legislators have decided to ease some rules that seemed too onerous for investors in the Hungarian market.
Due to new legislative amendments, the number of cases in which a special permit is required for work on commercial buildings continues to increase. The new permit proceedings apply to work for which no actual building permit is required, but an assessment must be obtained from the pertinent authorities. Environmental, infrastructural and urban planning impacts of the commercial building are taken into consideration in this assessment.
Skanska, one of the world’s leading project development and construction groups is driven by a strong commitment to have a positive social and environmental impact. The Swedish multinational company’s purpose is to build for a better society. Marcin Łapiński, Managing Director of Skanska Property Hungary discussed how the built environment can generate value both for business and society.
The Hungarian state is well on track to implementing one of its primary energy policy goals: strengthening its position in the Hungarian energy market. It is well established that every state plays a major and central role at the operation of a national energy market. The state has two major instruments for strengthening its influence: ownership of strategical energy assets and energy regulation.
The reduced 5% VAT rate on residential properties undeniably played an important role in strengthening the real estate industry. Although from the outset the reduction was incorporated for a fixed period of four years, between 2016-2019, many expected the long-term continuation of the rule. The Minister of Finance’s summer announcement cut an end for these hopes.
Skanska, the Sweden-based multinational construction and development company, embedded green thinking into its culture and ways of working. András Schmidt, sustainability manager of Skanska Property Hungary, translates this commitment to sustainability into action.
Fri, Sept. 28, 2018, 00:29
Top Expat CEOs IN Hungary 2018
The most influential expat CEOs in the Hungarian economy
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