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Foreign Banks Operating in Hungary

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Can a foreign bank operate in your jurisdiction?

Yes, a foreign bank can operate in Hungary under certain conditions.

Licensing and Registration Requirements for Foreign Banks

A credit institution established in another European Union or European Economic Area Member State does not need to obtain a license for services to be performed:

• on a cross-border basis: provided that the activities to be pursued in Hungary are authorized by the competent supervisory authority of its home state.
• through its Hungarian branch: provided that the activities to be pursued in Hungary are authorized by the competent supervisory authority of its home state.

Operating on the Basis of Domestic License

Yes, a foreign bank can operate in Hungary based on its domestic license either:

• on a cross-border basis
• through its Hungarian branch

Restrictions on Ownership, Including Foreign Ownership of Banks

The constitutional document of a bank established in the form of a public company limited by shares may regulate the maximum level of voting rights that may be exercised by a shareholder.

Requirements for Proposed Acquisition and Acquirer of Qualified Holding in a Bank

Any person with a qualifying holding in a bank shall fulfill certain requirements, including being independent of any influences which may jeopardize the bank’s careful, diligent, and reliable operation. The acquisition of a majority interest in a business association that has a qualifying holding in a bank is also subject to the consent of the National Bank of Hungary.

I hope this meets your requirements!