Business News from Hungary by Peterka & Partners

 

New electronic land registry in Hungary (E-ING)

From 15 January 2025, a newly introduced e-land registry will provide a fully digital administrative process where applications for property registration are submitted and processed electronically and automated decision-making will be possible for straightforward transactions. While paper-based procedures will still be available for a transitional period, they are expected to be phased out within the first half of next year.

 

New version of statistical industrial classification of activities (NACE’25)

From 1 January 2025, companies need to be aware that the current version of the statistical industrial classification code of their activities will automatically change in the official company register. This also means that any company document (especially the deed of foundation or articles of association of the company) which includes these codes of activities has to be modified next year to reflect the updated scope of activities.

 

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