Blog » ILF ANNUAL CONFERENCE – REPRESENTING HUNGARY IN CHINA
ILF ANNUAL CONFERENCE – REPRESENTING HUNGARY IN CHINA
02 December 2016
Our law firm is the member of an international law firm association called International Law Firms (ILF). The goal of this organization is to improve the service of independent smaller and mid-sized law firms serving their clients’ needs in cross border business legal issues. Every year there are annual and regional conferences where we can share our experiences, meet new people, new viewpoints, and make our community better.
This year the annual conference was held in Guangzhou, China. The Koo Fa Law Firm put much effort to organize a professional and successful conference. The interest shown towards this conference was surprisingly high, as lawyers from 20 countries gathered to attend the event.
Apart of the official reports regarding the operation of the organization, and knowing other law firms better, we got the chance to introduce the legal system and our law firm to potential Chinese clients.
In our introduction we concentrated on the Chinese-Hungarian business and legal connections, that caused surprise among Chinese businessmen. Hungary has 60 bilateral investment treaties and 80 double tax conventions and other agreements, and considering that the 74% of the Chinese business investment goes to Hungary among the V4 countries, we can say without hesitation that Hungary represents the flagship of china in the Central Eastern Europe region.
Of course these facts can be interesting, but maybe not convincing enough for a new investor, so we explained three important reasons for Chinese investors to come to Hungary:
- the Hungarian Government supports foreign investors with great incentives
- Hungary has a very favourable “tax climate”
- our country offers a highly-skilled, yet affordable workforce.
We concentrated on explaining legal topics without going into difficult details and legal terms, and we received an outstanding attention from the audience.
We had also the opportunity to meet clients personally one by one, and they could also explain their work field and needs.
The conference was held in a very friendly atmosphere from the beginning to the end, where all of us could improve our skills in networking and improving professional relations.
DOES THE LACK OF HANDOVER MAKE THE DISMISSAL UNLAWFUL IN HUNGARY?
Whether the lack of handover makes the dismissal unlawful based on the recent judgment of the Hungarian Supreme Court? What happens in case the employee fails to take over the dismissal? We address these issues in our article by analysing a recent judgment of Hungarian Supreme Court.Read more »
UNPAID CAPITAL CONTRIBUTION IN A HUNGARIAN LLC? HOW TO SOLVE THIS PROBLEM?
The „start-up capital” of the limited liability company is the initial capital which is the totality of the capital contributions provided by the shareholders. Since the shareholders may declare that the capital contribution shall only be provided after the establishment of the company in a later date, the painful situation might occur that the shareholder does not provide or only partly provides the capital contribution. Given that this may create unwanted consequences, the settlement of the capital-related problem is the common interest of the shareholders. In this article we summarize the possible methods to solve this issue.Read more »
COVID-19 BRIEFING – RESTRICTIONS ON NON-EUROPEAN FOREIGN INVESTMENTS IN HUNGARY
After the bill, passed in 2018 on restrictions of foreign investments, Hungary further limits the domestic investments of the foreigners because of the COVID-19. The new decree extends the scope of the investments to be notified and introduces fines, too. We explain the most important provisions of the decree in this article.Read more »