Purpose and scope :
Investissement-budapest.com is a trademark belonging to ROI Immobilier KFT, the present General Commercial Conditions are intended to govern the commercial relations between ROI Immobilier KFT and its clients.
On the basis of these General Commercial Conditions, Investissement-budapest.com will provide the client with various services such as the purchase and sale of real estate in Hungary, the management of works, the creation of companies and certain related services.
These General Terms and Conditions of Business form an integral part of any contract concluded between the Client and Investissement-budapest.com by signing a signed form online or on paper.
By entering into a Contract with investment-budapest.com, the Client accepts these General Terms and Conditions of Business. A list of prices and a list of services are available on the Investissement-budapest.com website or in a brochure upon request.
Any other general terms and conditions that deviate from, contradict or supplement these General Terms and Conditions of Business shall be excluded from any Contract, unless otherwise expressly agreed in writing between the Client and investment-budapest.com.
In the event of any conflict between these General Terms and Conditions and any Contract, the provisions of the Contract shall prevail over these General Terms and Conditions.
Investissement-budapest.com reserves the right to modify the General Commercial Conditions at any time with immediate effect. The Client will be informed of such modifications by written notification. The amendments will be approved by the Client unless Investissement-budapest.com receives a written objection to them within one month of the date of notification.
Content and scope of services :
Foundation and Management of a Company and Additional Services
Investissement-budapest.com may provide the Client with a company formation service in Hungary. Investissement-budapest.com may also arrange, whether through Investissement-budapest.com’s affiliates or third parties, the provision of Additional Services such as the appointment of trustee directors, trustee shareholders, Internet merchant account, company logo, company stamp, power of attorney, notarial certification and apostille on documents. The term “affiliates” means, in relation to Investissement-budapest.com, a subsidiary or holding company of Investissement-budapest.com or any other subsidiary of such holding company.
All Additional Services will be provided on the basis of a specific agreement between the Client and the relevant Additional Services provider, except for stamps, stamps and logos, notarial certification and apostille.
The Investor Pack :
Within the framework of our rental investments, Investissement Budapest offers a complete service package tailored to foreign investors. These services are included in the purchase prices of “direct properties” and are listed in the brochure “Services and Prices 2020” upon request.
Contents of this service package:
1. Taking over and management of the entire project.
2. Incorporation of the real estate company as a KFT – Korlátolt felelősségű társaság.
3. The opening of personal or company bank accounts to which the investor will be the sole signatory. This may include a debit card and access to online banking. Rental income will be paid directly into these accounts.
4. Assistance with the administrative procedures for the acquisition of the property.
5. The renovation of the property and/or bringing it into conformity before it is rented out (maintenance of the property is not included once the renovations have been completed).
6. Putting you in contact with our rental management partner. This partner will be in charge of finding tenants, ensuring the proper management of the property, maintenance (in conditions of current use) and the correct payment of rent.
7. Tax and accounting assistance. This tax and accounting assistance does not include miscellaneous taxes, bookkeeping costs and other costs related to the investor’s real estate investment. The responsibility of Investissement-budapest.com is limited to putting the investor in contact with the professionals requested by the investor.
Order and reservation of company name :
Investissement-budapest.com reserves the company name as far as it is available. Between verification and actual purchase of the company name, Investissement-budapest.com cannot be held responsible for the unavailability of a company name. A company name may be available for reservation/registration, but sometimes the registration body may reject the name at the time of registration because it is too close to another existing company or for any other reason specific to the body.
Delivery times :
Investissement-budapest.com is subject to the processing times of each state or country of incorporation. As soon as the official documents are returned to Investissement-budapest.com, they will be redirected to you as soon as possible.
The registration of a company can take from 3 days to 8 weeks plus postal delays.
An email or fax copy of the official documents can be sent to you as soon as the state returns them.
Investissement-budapest.com cannot guarantee an exact date or time of delivery of the product or service due to dependence on other agencies.
The banking introduction service :
As the name suggests, Investissement-budapest.com introduces the client to a partner bank with which our group has either experience or an agent contract. Our service consists in simplifying the procedure for our client, following and advising the client in this banking step by using our contacts and/or experience with the bank. This service is often included free of charge in our packages or charged at a small price to cover our intervention and work time. The banking introduction service can in no way be guaranteed and/or reimbursed.
Investissement-budapest.com can assist the Client in opening a bank account. In this context, Investissement-budapest.com may offer the Client a list of banks, but the Client remains responsible for the choice of bank. The successful implementation of additional services such as credit cards, bank cheque books or Internet banking access is not guaranteed. The service may only be used for legal purposes.
Right to refuse services :
Investissement-budapest.com reserves the right to refuse all or part of the services it offers to a Client without reason or explanation, and cannot, under any circumstances, be held responsible for this refusal.
Legal advice :
Although Investissement-budapest.com strives to provide truthful and correct information about all its services, it does not provide legal advice. It is the Client’s responsibility to ensure that they receive all necessary legal and tax advice with respect to the establishment and operation of their Company, and to ensure that the activities will not violate the law of any competent jurisdiction.
Legal Purposes :
The Client warrants that it will not use any of the rights granted in an Agreement for illegal, obscene, immoral or defamatory purposes and will not discredit Investissement-budapest.com in any way. Under no circumstances may the Client use or associate the name of Investissement-budapest.com, in whole or in part, for commercial purposes. Investissement-budapest.com reserves the right to co-operate with any official investigative authority in the event of an allegation of breach against the Client.
Money laundering and due diligence :
The Client will provide Investissement-budapest.com with any information deemed necessary by Investissement-budapest.com to ensure that the Company complies with applicable anti-money laundering and due diligence legislation. It is the Client’s responsibility to ensure that the information provided to Investissement-budapest.com is correct. The Client also declares to Investissement-budapest.com that the property or funds introduced into a Company do not constitute, directly or indirectly, the proceeds of crime or any other illegal activity. In order to enable Investissement-budapest.com to meet its legal obligations, the Client will keep Investissement-budapest.com fully and promptly informed of any changes concerning the economic beneficiary, shareholders and management of the Company.
Obligations of the Client :
The Client is required to provide the following information:
A copy of proof of identity
A signed copy of the company’s articles of association (by-laws and articles of association)
A copy of the register of directors of the company
A copy of the certificate of incorporation of the company
A postal power of attorney
In any case, immediately inform Investissement-budapest.com of any changes to the above-mentioned documents, its legal form and corporate purpose, as well as any changes concerning the name and personal address of the persons who have the power to bind the company.
It is the Customer’s responsibility to inform all parties of the change of address. Letters sent at a later date will be returned to the sender.
Fees and terms of payment :
In general, the Client undertakes to pay the commissions charged by Investissement-budapest.com. Investissement-budapest.com’s fee schedule can be found in the list of fees available in our brochure “Services and Fees 2020”.) In addition to the fees listed in the brochure, the Client acknowledges that it shall reimburse all costs incurred by Investissement-budapest.com, without limitation.
Investissement-budapest.com will only commence an execution phase after receipt of full payment of the fees. All fees and costs are payable in the currency designated by Investissement-budapest.com which is usually the Euro (€). The Client is not entitled to withhold fees and charges as a result of claims relating to any service, warranty or liability. Similarly, any right of set-off on the part of the Client is hereby excluded.
Foundation and Management of a Company :
In addition to the annual fee, the Client shall pay Investissement-budapest.com a one-time lump sum to enable the creation of a Company. The Client shall be liable to Investissement-budapest.com for all other taxes such as government taxes, duties, levies and other third party payments as well as directors’ or trustee shareholder transfer fees and indemnities, including disbursements and all justifiable out-of-pocket expenses. The Client acknowledges Investissement-budapest.com’s right to review the annual fees. Any change in the fee structure will be notified to the Client at least one month prior to the commencement of the services for the period to which the fee relates. The Client may pay the fees due to Investissement-budapest.com by bank transfer.
Opening a bank account :
The Client may be liable in certain cases to pay a lump sum for the provision of services related to the opening of a bank account.
These fees may be modified at any time without prior notice. The Client must pay the application fee before Investissement-budapest.com commences the execution of the service. The Client may pay the processing fee to Investissement-budapest.com by bank transfer. Opening a bank account: in this case, Investissement-budapest.com will assist you in the remote opening of your bank account until the bank details are received (VISA card, internet access).
The files are subject to acceptance by the bank concerned.
Depending on the bank, the client must meet the requirements of the banking file to be constituted and provide all the necessary elements. Any incomplete file will result in a delay or a refusal.
After opening a bank account, each client becomes a client of the bank and it is to the bank that he or she must subsequently address the bank.
In the particular case of opening a bank account, Investissement-budapest.com acts as a third party in the relationship between the Bank and the Client. Consequently, Investissement-budapest.com cannot under any circumstances be held responsible for the relationship between the Bank and the Client. Investissement-budapest.com has no authority to act and does not purport to act as an employee, representative or officer of the Bank and/or to sign on its behalf or to incur any liability whatsoever on behalf of the Bank.
Note: Investissement-budapest.com shall not be liable in the event that an application to open a bank account or obtain means of payment is refused. Our role is simply limited to banking introduction.
Rental management :
ROI Immobilier KFT will put you in touch with our partner company responsible for rental management. However, Investissement-budapest.com has no authority to act and does not purport to act as an employee, representative or officer of the rental management company / or to sign on its behalf or incur any liability whatsoever on behalf of the rental management company. Our role is simply limited to the introduction with our partner.
However, the fees and management terms and conditions, to be paid by the client, may change and are to be defined contractually.
Generally speaking, all expenses relating to the proper management of the property remain the responsibility of the investor, such as, but not limited to a :
– The company’s bookkeeping,
– Various taxes or/and levies,- Work and maintenance costs,
– Change of tenant (for contracts of one month or more)
Financial information :
The rental report information and other financial information specified on the Investissement-budapest.com website and communication documents have been calculated based on financial analyses of the real estate market in Hungary.
Investissement-budapest cannot be held responsible for the final financial results, as these depend on numerous risk factors, such as economic or material factors that cannot be controlled.
All figures specified in Investissement Budapest’s communication documents are for information purposes only, these results are forward-looking results that are not guaranteed by Investissement Budapest.
Communication and instructions :
The Client and Investissement-budapest.com may send each other instructions, notifications, documents or any other communication by mail, email or fax, provided that Investissement-budapest.com may send expense reports or fee statements as attachments by email. The Client and Investissement-budapest.com shall retain all instructions, notifications, documents or any other communication as evidence. All communications to Investissement-budapest.com will be sent to its registered office or to any other address that Investissement-budapest.com has notified the Client in writing at any time and, all communications to the Client will be sent to the Client’s address or to any other address that the Client has notified Investissement-budapest.com in writing at any time, including any remaining postal instructions that must be approved in writing. Since Investissement-budapest.com must at all times be able to contact the Client if necessary, the Client undertakes to inform Investissement-budapest.com immediately if he/she changes his/her address, e-mail address or telephone/fax number.
Data protection :
Investissement-budapest.com, its directors, employees or agents are obliged to treat all data as confidential. Despite all security precautions, data, including e-mail communications and personal financial data, may be accessed by unauthorised third parties during transmission between the Client and Investissement-budapest.com. The Client agrees to use software produced by third parties, including but not limited to browser software that supports a data security protocol compatible with the protocol used by Investissement-budapest.com.
Legal Incapacity :
The Client shall bear the risk of any prejudice resulting from legal incapacity relating to its person or its lawyers or other third parties, unless such incapacity has been communicated to Investissement-budapest.com in writing.
Liability: Without prejudice to any specific provision, any damage resulting from an error or omission on the part of Investissement-budapest.com, its directors, employees or agents shall be borne by the Client, unless Investissement-budapest.com, its directors, employees or agents have committed gross negligence or fraud or any other liability which cannot be excluded under applicable law.
Investissement-budapest.com cannot be held liable if the Additional Services cannot be implemented. Investissement-budapest.com’s liability in respect of the Additional Services is strictly limited to the selection, instruction and supervision of its affiliates or any other third party.
Any damage or loss resulting from the use of postal services, telegraph, telex, facsimile, telephone, and other means of communication or means of transport, and particularly loss resulting from delays, misunderstandings, deterioration, mistreatment by third parties or duplication of copies, shall be borne by the Client, unless Investissement-budapest.com has been grossly negligent.
Duration, termination and suspension of services :
In general, any Contract lasts for the period indicated and will then be automatically renewed for successive periods equal to the length of the initial term.
In all other respects, any Contract will be automatically renewed under the same terms and conditions.
Either Investissement-budapest.com or the Client may terminate any Agreement for the term specified therein, or for the end of any extension or renewal period, by giving at least two months’ notice in writing to the other party. Termination shall be without prejudice to any rights or obligations of either party arising prior to termination or arising with respect to any act or omission of the other party.
The right to immediate termination for just cause is reserved.
In the event of a breach by the Client of applicable laws or these General Terms and Conditions of Business by the Client, Investissement-budapest.com may terminate any Agreement with immediate effect, including an Agreement concerning Additional Services provided by companies affiliated to Investissement-budapest.com or by third parties. In such a case, the Client must take all necessary steps to replace any vacancy that may arise in any Company as a result of such termination and it is expressly agreed that Investissement-budapest.com shall not be liable for any damages resulting from such immediate termination.
Foundation and Management of a Company :
Any Contract for the operation of a Company is valid for one full year. In the event that the Client terminates the Agreement or requests Investissement-budapest.com to transfer the management of the Company to another agent or corporate service provider or to liquidate the Company, Investissement-budapest.com will not transfer or liquidate the Company until all outstanding payments, expenses and/or fees (including but not limited to government taxes, duties, levies and other third party payments and directors’ or shareholder trustee fees) have been paid in full.
We disclaim all liability for the consequences of any possible fraudulent use of such structures. Our purpose and role is strictly limited to the creation of these entities in accordance with applicable laws and to ancillary and related activities. The simple fact of sponsoring us for the formation of a company implies the unconditional acceptance of the conditions set out above.
In order to carry out its services, Investissement-budapest.com reserves the right to engage subcontractors who will be under its authority. The Client’s rights and obligations arising from a Contract may only be transferred to third parties with the written consent of Investissement-budapest.com.
Investissement-budapest.com favours client communication by email and strongly encourages its clients to use secure “SSL” access. The client should inform Investissement-budapest.com of any changes or problems with their email, add Investissement-budapest.com emails to their “white list” and check that they do not go into spam.
The client must provide Investissement-budapest.com with a telephone number so that we can contact them in the event of an emergency or email malfunction. A mailing address must also be kept up to date in the client profile.
Investissement-budapest.com its partners and employees are in no way responsible for or “guarantee” the commercial activities carried out by its clients through companies incorporated by Investissement-budapest.com.
All clients and companies must comply with the laws of the state of registration, the laws of the country in question, the laws of international trade and other applicable legislation, as well as the laws of their country of residence.
Each customer is responsible for verifying in his country of residence the feasibility and legality of his activities as well as the revenues generated.
Tax, accounting and legal advice: no commercial, tax or accounting strategy can be advised and/or followed by Investissement-budapest.com, which limits itself to putting clients in touch with specialists in the relevant field.
Our Additional Services :
The additional services offered by Investissement-budapest.com are limited to administrative and/or technical intervention. Investissement-budapest.com does not provide legal services or advice. All information on legislation, taxation and company law in Hungary, etc. must be submitted verified and confirmed by specialists. Investissement-budapest.com provides company formation and other services under the auspices and confirmation of the client. Any order placed by the client implies that the client has verified the legality and feasibility of the project.
Cases of death of one of the directors and cases of force majeure :
These terms and conditions are applicable with the exception of:
The death or disability of one of its leaders, making ROI Immobilier KFT and/or one of its partner companies and/or subsidiaries impossible to administer.
In case of major forces such as, but not limited to, acts of war or terrorism, civil and/or military unrest, natural or nuclear disasters, pandemics, etc., ROI Immobilier KFT will not be liable for any loss or damage resulting from such events.
Changes and updates :
ROI Immobilier KFT reserves the right to modify, without notice and at any time these terms and conditions, it is the responsibility of each person to consult them regularly.
Applicable law :
All relations between the Client and Investissement-budapest.com are governed by the law of Hungary, irrespective of the rules of private international law.
The place of performance of the obligations of all parties in any legal action shall be in Hungary, at the place where Investissement-budapest.com has its registered office.
However, Investissement-budapest.com is also entitled to take legal action against the Client at the Client’s place of residence or before any other competent court or authority.
François Dalleau and Raphaël Kroll hold the position of Managing Director of the company ROI Immobilier KFT.
Investissement-budapest.com – ROI Immobilier KFT,
1054 Budapest, Honvéd utca 8.,1/2. – HUNGARY
The “Terms and conditons” has been drawn up in French and English, and the Client agree that in case of any linguistic difference the Hungarian version shall be prevail.
Last updated: May 14, 2020