[ESTABLISHING A BUSINESS ENTITY IN HUNGARY]
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8.2 Any capitalisation obligations
8.4 Any restrictions on remitting funds out of the jurisdiction Hungary does not levy withholding tax on dividend payments made to non-resident enterprises. 9. Our firm Jalsovszky is one of Budapest’s fastest growing and most innovative law firms. The key to our success is a business-focused approach paired with logical thinking. Clients appreciate that we are never afraid to voice our opinion even in critical situations. We regard ourselves as a boutique law firm. No matter how experienced our associates are, we cannot be fully conversant in every area of the law, even in the field of commercial law. But when it comes to what we specialise in, we consider ourselves to be among the best. Whether with regard to our clients or our staff, it is human-oriented thinking that defines us. It is important for us to build personal relationships with our clients. We believe a personal relationship does not get in the way of providing a high-quality professional service – on the contrary, it makes cooperation even more effective. We aim, further, to provide our colleagues with a friendly and supportive environment in which they can find fulfilment and motivation. Our firm’s market - leading role and the exceptional quality of our legal team is acknowledged year in, year out by numerous international rating agencies (including the publications Legal500, Chambers and Partners, IFLR and International Tax Review).
The capital requirements for the limited liability company are set out under Section 3.2 of this summary and the capital requirement for private companies limited by shares are set out under Section 4.2. In case the company does not fulfil according to its balance sheet data the minimum capital requirement determined for its company form in two successive financial years, then the supreme body of the company needs to decide either on the provision of the necessary capital or the reorganisation to another company form. 8.3 Any special business or investment visa issues The citizens of the European Economic Area countries do not need any permit to live and work in Hungary. Some restrictions may apply to employees from Romania, Bulgaria or Croatia. Third country citizens need to apply for a residence permit and a work permit in order to live and work in Hungary. A third country citizen may apply for a Hungarian residence permit for maximum 5 years if he/she can prove to own, or if a company in his/her majority ownership owns treasury bonds of a nominal value of at least EUR 250,000 specifically issued by the Hungarian State for this purpose.
ILN Corporate Group – Establishing a Business Entity Series
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