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At the end of 2023, the Hungarian Parliament adopted the Act on the Digital State and Certain Rules for the Provision of Digital Services (“Digital State Act”), the majority provisions of which will enter into force on 1 July 2024. This act opens a new era in the digitalization of public services, serving the 21st-century administrative needs of the Hungarian people and economic operators.

EU legislation on crypto-assets is based on the EU Regulation on Markets in Crypto Assets (as known as MiCA), which is directly applicable in the Member States, including Hungary.

In the ever-evolving landscape of legal technology, two notable players, SauLM-7B, and Harvey AI, have emerged with the aim of revolutionizing legal assistance through artificial intelligence. SauLM-7B and Harvey AI compete for prominence in the legal tech arena, their names both carrying a subtle nod to the realm of popular TV series – from Saul Goodman's legal antics in Breaking Bad and Better Call Saul to Harvey Specter's suave maneuvers in Suits.

Convenience fee is the part of our everyday life that seems to be a usually small but inconvenient price to pay for shopping online. But is it indeed a necessity? The Prosecution Service of Hungary intends to find out exactly that.

Based on a Hungarian case, on 14 March 2024 the Court of Justice ruled that the supervisory authority of a Member State, to ensure that the GDPR is fully enforced, may order the erasure of unlawfully processed data even if prior request by the data subject has not been submitted. Such erasure may cover data collected from the affected person and data originating from another source.

On 2 April 2024, a new bill was submitted to the Hungarian Parliament. Among other judicial system-related acts, the proposal aims to amend our Competition Act. The bill establishes the concept of ‘undertaking of fundamental importance’ (in Hungarian: “alapvető jelentőségű vállalkozás”) and gives new powers for the Competition Authority (HCA) in respect of these undertakings.

The National Tax and Customs Authority (NAV) published its 2024 audit plan on 26 March 2024, which shows that it plans to carry out more rigorous audits this year than in recent years.

To enhance the competitiveness of the Hungarian economy, the Government plans to accelerate the process of setting up companies in Hungary for foreigners. Currently, individuals who do not understand Hungarian language, should wait days or even weeks to receive the decision from the Hungarian Company Registry Court certifying the registration of their new company.

In order to promote the health of employees and prevent workplace accidents, the Hungarian Government had significantly increased the fines for the breach of occupational health and safety rules as of 1 March 2024. The rule on its amount was removed from the applicable act and its details were laid down in a government decree.

Certain amendments to the Land Transaction Act entered into force on 1 January 2024. The amendment introduces the definition of a rice farm, which includes the land and, as an accessory thereto, the land parcel registered as an area excluded from cultivation serving the rice production (e.g. ditch and drainage systems, embankments and farm roads). The amended Act contains specific provisions, such as two new legal bases for the pre-emption right in respect of rice farms.

According to the Hungarian Government's spring 2024 legislative program, the Hungarian Parliament may decide on the introduction of a “European minimum wage” as early as this spring session. The EU minimum wage directive highlights the importance of European social dialogue frameworks in reaching agreements on minimum wages among Member States.

New technologies, spearheaded by artificial intelligence, are shaping the legal dialogue surrounding innovation, consumer protection, and the integrity of market competition within Hungary and the European Union as a whole according to KCG Partners Founding Partner Rita Parkanyi.

The Hungarian Parliament adopted the bill on Hungarian architecture on 12 December 2023, and the Hungarian Architecture Act was officially published 10 days later. The date of entry into force is different for certain sections of the Act, namely 30 December 2023, 1 October 2024, 1 January 2026 and finally 1 July 2027.

KCG Partners at a Glance

KCG Partners is a Hungarian business law firm providing a comprehensive range of legal services to international and local clients seeking local knowledge and global perspective. The firm comprises business-minded lawyers with sector-specific expertise, creating value for clients by applying a problem-solving approach and delivering innovative solutions.

The firm has a wealth of knowledge in corporate law, M&A, projects and construction, energy, real estate, tax, employment, litigation, privacy and forensics, securitization, estate planning and capital markets.

To address clients’ regional and international concerns, the firm maintains active working relationships with other outstanding independent law firms in Central and Eastern Europe, whilst senior counsel Mr. Blaise Pásztory brings over 40 years’ of US capital market and fund management experience.

KCG Partners Law Firm is the result of the teamwork of passionate and talented lawyers guided by the same principles and sharing the same values: 

  • Our most valuable asset is our people. They are the engine of our business and the key to our success.
  • We push boundaries by looking for innovative solutions that can empower our clients to achieve greater results.
  • We place our experience, commitment and professionalism to your service.
  • We are driven by our vision to shape and lead the Hungarian legal market and become a first choice law firm in our practice areas.

Firm's website: http://www.kcgpartners.com