Acquisition of real estate by foreigners in Hungary

Foreigner legal and natural person (excluding agricultural and forestry lands) can acquire real estateownership through permission from the government departments competent in the classification ofthe location of the property. No permission is needed by the government departments if they are: Citizens of the EU, legal person or organisations without legal personality Citizens of countries that are part of the Agreement on the European Economic Arena -EEA(Norway, Liechtenstein, Iceland), organisations without…

Read more

Franchise Contracts – Summary of the Hungarian regulation

Franchising is a very popular and effective form of economic cooperation. There are many advantages to entering into a franchise contract, or what is known as a lease contract in Act V of 2013 on the Civil Code (hereinafter referred to as Civil Code). In this article, we shall describe the characteristics of the franchise contract. 1. Definition For a long time, Hungarian law did not regulate franchise contracts as…

Read more