Hungary Relaxes Offshore Company Legislation Tax-news.com 01 May 1999 A number of improvements to Hungarian Offshore Company Legislation are effective from 1/1/99: The subsidiaries of foreign publicly-listed companies can be offshore Only an offshore company itself and its direct shareholders are now prevented from establishing another business presence in Hungary The requirement for payments to be made through a Hungarian bank account have been loosened The requirement for a majority of directors and staff to be resident in Hungary now applies to the total number of individuals rather than to each category separately. .

IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.