The foundation – a historical, typological, functional, taxation and asset management omnibus
This handbook gives detailed guidance on the regulation of foundations and thus may be recommended for practicing lawyers, businesspersons and individuals engaged in the non-profit sector.
The EU beneficial ownership register leaves very little room for maneuver for those who prefer to maintain their privacy in present times. In this article Dr. Menyhei discusses those legal structures that can maximize privacy in today’s era.
The new Hungarian asset management foundation—a hybrid of a trust and a private foundation—provides an excellent solution to link privacy, asset protection, and tax compliance together. In his article, Dr Menyhei discussess the benefits of these unique wehicles.
In this article Dr Ákos Menyhei and Dr Krisztina Gyepes present a practitioners’ guide to doing business in Hungary.
Hungary has not yet ratified the Hague Convention on the Law Applicable to Trusts and on their Recognition. However, the Hungarian International Private Law Act recognises trusts as a foreign legal solution and states that foreign regulations should be applied in legal disputes where there is no domestic (Hungarian) solution.
Hungary has recently amended and changed some of its trust rules, aiming to provide for more clarity and a wider scope to use the trust for estate planning and asset protection. In this article, Dr Menyhei explains the latest developments of the Hungarian trust law and the main asset protection feature of the Hungarian trust.