Power of Attorney for Hungarian Jurisdiction & Pension

Notarized Power of Attorney for Hungarian Jurisdiction

The Power of Attorney Form (Meghatalmazas) is one of the most frequently used forms in the Consular practice of the Honorary Consulate of Hungary.

If there is a transaction that requires your presence, but you cannot attend the transaction in person, you may authorize someone to act on your behalf by issuing a Power of Attorney. In Hungary, certain transactions require that if the Power of Attorney is exercised. In this case the Power of Attorney has to be notarized according to the notarization practice of the Hungarian jurisdiction.

A Power of Attorney notarized by a Canadian notary public is accepted as a notarized Power of Attorney in Hungary if it is super-legalized and signed by the Honorary Consul General of Hungary or by the dedicated staff of the Hungarian Diplomatic Mission. See contacts here.

Notarized Power of Attorneys are mostly used for:

Private purposes:

  • Real estate deals
  • Pension application
  • Banking (opening/closing/transferring funds from a Hungarian bank to a foreign bank and vs versa) - here please note that it's a common practice that banks in Hungary may require you to sign a form and have certified by a consul about your existence, i.e., you are still alive. Erste Bank, OTP Bank have their own forms and requirement for this purpose and it has to be done on a yearly basis, usually in March, however, it may vary.

Corporate purposes:

  • Notarize various company's dealings, signatures of directors (set-up; dissolve, etc) that are related to a Hungarian counterpart (joint ventures) or to Hungary in general

Pension

One of the most asked issues is the pension application. It's certainly a challenging task to gather all the information, forms, evidence that you may need to prove your case. In Hungary, az "Orszagos Nyugdijbiztositasi Foigazgatosag" (Central Administration of National Pension Insurance) - is dealing with this issue.

The more organized you are, the better and easier the process is. Try to collect every little piece of information about your past working experience and background in Hungary, here "the more is the better" principle should guide you. Organize it in a chronological order and attach all the supporting evidence. (munkakonyv, katonakonyv, bizonyitbanyok, stb)

You may also need to contact Revenue Canada - to clarify your tax status regarding Hungary.