The internal market of the EU with its 27 countries is a global trading power. Therefore, it comes as no surprise, that more and more cross-country business transactions are concluded and settled within Europe. More than 64 % of the total business of the EU countries takes place with other EU member states.

Within the EU, the so called Visegrád Group plays an important role which is constantly increasing. Politically and economically. This concerns the countries Poland, the Czech and Slovak Republic and Hungary. The last time we heard about the Visegrád Group was in February 2020, when they were called the „saviours“ of the German export balance. The German companies have recently invested ca.90 billions euros in this region, especially in the modern production plants and in the staff training.

RIEDIGER. legal | tax has accompanied clients from Germany to Poland and the Czech Republic for 15 years. Therefore, it is only consistent, when this expertise will be extended to Hungary. The law office belongs to the 2,5% offices in Germany with the highest turnover and now it enters a new partnership under the name HU4DACH. Together with Dr. Nóra Tapolczai LL.M. (law office Tapolczai / law firm colegal, www.colegal.hu) and Dr. Tibor Héjj (Proactive Management Consulting Kft., http://www.p-m-c.eu/), we will promote cross border projects in Hungary and the Visegrád countries.

I. HU4DACH

The DACH countries lie geographically close to each other and the same language is spoken there.

D         stands for Germany (Deutschland)

A         stands for Austria, in Latin Austria

CH       stands for Switzerland, in Latin Confoederatio Helvetica

Why Hungary?

• Hungary ´s central location and its road infrastructure allow a cost-effective connection among Your clients and suppliers

• Hungary is a member of the Schengen Agreement, which allows a free cross border connection among 26 European countries

• Many of the German large companies as Audi, Mercedes, Porsche, Bosch, KNORR, Bremse, Telekom, Siemens or e.on have been already present in Hungary for many years (HU). However, parallelly also many medium-sized companies found way to Hungary and they appreciate the on-site conditions very much.

Together with our experienced partners Dr. Nóra Tapolczai LL.M. and Dr. Tibor Héjj, we will promote under the group„HU4DACH“ new projects, which will strengthen the economy of Europe even more.

II. V4 – full speed ahead

The Visegrád countries Hungary, the Czech Republic, Poland and the Slovak Republic are constantly becoming more influential in central Europe – last but not least due to the BREXIT also within the EU. This politically as well as economically.

The four Visegrád countries build together the most dynamically growing region in Europe. According to the Eurostat, in 2018 the GNP of the EU countries grew by 2,0 percent, the GNP of the Eurozone by 1,9 percent. The corresponding figures for the V4: the Czech Republic 2,9 percent, the Slovak Republic 4,1 percent, Hungary 4,9 percent, Poland 5,1 percent.

Hungary pushed itself with 5,2 percent growth in the first half year of 2019 on the top of the EU countries – three of the four most growing European economies belonged to the group V4.

Therefore, the law office RIEDIGER. legal | tax will extend its expertise to Hungary. The focus will be on inbound projects to Hungary as well as on outbound projects from Hungary.

Dresden, May 20, 2020