Publications
Hungary Offers Alternative Structures To Trusts Beset By Greater Transparency (wealthbriefing.com 2023)
In today’s dynamic landscape, asset protection and privacy are paramount. In his recent article published on wealthbriefing.com, Dr. Menyhei sheds light on the challenges traditional trusts face in safeguarding sensitive information amid evolving privacy legislation and introduces alternative legal structures offering a solution.
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The third edition of “A Bizalmi vagyonkezelés” (Fiduciary asset management) has been published
We are pleased to announce that the third edition of “A Bizalmi vagyonkezelés” (Fiduciary asset management) has been published by the ORAC publishing house. This expanded and updated volume is authored by a team that includes two of our managing partners Gábor B. Szabó and Ákos Menyhei and their esteemed colleagues István Illés, Borbála Kolozs and István Sándor.
The new edition encompasses the legislative changes related to trust management that have occurred since the second edition in 2018. Notably, a separate chapter has been dedicated to asset management foundations, which were introduced into the Hungarian legal system in 2019. These foundations represent a distinct form of the asset management profession, governed by new and specific rules, and present promising untapped opportunities.
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International Asset Protection Strategies – How Hungary Offers Unique Solutions (mondaq.com 2023)
The European Union offers a very strong and stable environment for international asset protection purposes, in which solutions available in Hungary provide exceptional protection and privacy for assets; namely trusts, asset management foundations and so-called hybrid trusts.
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Taxation of the Hungarian asset management foundation, trust and hybrid (Trusts&Trustees 2023)
How should new legal forms—trusts, asset management foundations and hybrid trusts—be treated and their taxation implemented into an existing tax regime? In this article published by Oxford University Press, Dr Menyhei explains the key issues and significant benefits of the taxation of trusts, AMFs and hybrid trusts, providing answers to these questions.
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The impacts of the beneficial owner register on Hungarian asset management foundations, trusts, and hybrid trusts (Trusts & Trustees 2022)
This article discusses the working mechanism of the Beneficial Ownership Register (BOR) in Hungary with a special focus on the asset management foundation (AMF), the trust and the hybrid trust. It also analyzes the impact of BOR and AML law on the privacy of the participants in an AMF, trust, or hybrid trust.
Link to publication Tax benefits of the asset management foundation and trust in Hungary (Trusts & Trustees 2021)
The tax treatment of the trust, the private foundation and the AMF is based on tax neutrality in Hungary, providing at least an equal and not burdensome treatment of these vehicles compared to any other alternative legal solutions.
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The foundation – a historical, typological, functional, taxation and asset management omnibus
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.
Privacy protection in Hungary (Trusts & Trustees 2020)
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.
Link to publication The new Hungarian asset management foundation (Trusts & Trustees 2019)
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.
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STEP Journal – Hungary for business
In this article Dr Ákos Menyhei and Dr Krisztina Gyepes present a practitioners’ guide to doing business in Hungary.
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