02
Tue, Jun
98 New Articles

Cash Grant up to EUR 800,000 is Available for New Investments in Hungary

Cash Grant up to EUR 800,000 is Available for New Investments in Hungary

Hungary
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Hungary announced and successfully notified to the European Commission a HUF 50 billion (approximately EUR 140 million) aid scheme in April 2020. The subsidy to improve competitiveness has been designed to help the medium-sized and large enterprises that are active in the manufacturing or business services sector that face difficulties due to loss of income and liquidity resulting from the economic impact of the pandemic.

Medium-sized and large companies with a setback of at least 25% in their net turnover or orders due to COVID19 can apply for the grant for new investment yet to be commenced but to be finished by 30 June 2021. As a pre-requisite, the volume of the new investment should be at least HUF 50 million (EUR 150,000) and the applicant should undertake to maintain the average staff number at least until 31 December 2020 (until the completion of the investment indicated).

In order to provide effective aid for the companies, the cash grant – once approved – is paid upfront (pre-financing) and is uniquely also available in the Budapest region.

By Balint Zsoldos, Head of Tax, KCG Partners Law Firm

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

Firm's website.

Our Latest Issue