In March 2019 the Hungarian Parliament voted to introduce a new form of asset management foundation, which will serve as a real alternative to the fiduciary asset management (trust) system (“bizalmi vagyonkezelés” in Hungarian).
The legal practice analyser group of the Curia (i.e. the Hungarian supreme court) published a summarizing opinion on the judicial practice of the possession protection cases initiated before Hungarian notaries.
The Hungarian Minister of Finance announced on 7 August 2018 that the maximum number of third-country nationals who might be employed in Hungary with work permit shall be 55,000. Last year the limitation was 59,000, which means that the maximum number of third-country nationals has been reduced with 4,000.
Since the new Hungarian Code of Civil Procedures applicable from 1 January 2018 contains no provisions relating to the bills of exchange (in Hungarian: idegen váltó) and promissory notes (in Hungarian: saját váltó), the special procedural regulations of the bill procedures are included in a separate act entered into force on 1 January 2018.
Information website has been launched about the electronic communication with courts and authorities
According to a recent amendment to the Hungarian act on the general rules of electronic administration and confidential services and to its implementing decree, all state organisations providing electronic administration, including all the courts and the National Office for the Judiciary (in Hungarian: “OBH”), must ensure the electronic communication in all matters falling within their competence.
As of 1 January 2018, a new government decree (Decree) entered into force on the detailed regulations of the commercial activities of condominium managers, real estate managers, real estate agents, property evaluators and agents.