Trust Asset Management or an Asset Management Foundation?

News – 26.03.2026

Bizalmi vagyonkezelés vagy vagyonkezelői alapítvány

Easily review the main differences between trust asset management and an asset management foundation if you wish to preserve the integrity of your assets!

About fiduciary asset management in general

The advantages of Hungarian trust asset management are also available to foreigners

Asset Management Foundation – A Solution for Managing Significant Assets

	Trust asset management	Asset management foundation
Legal form	contractual, obligation-based form	foundation form, a court-registered legal entity
Origin	Anglo-Saxon trust	German private foundation
Minimum Capital Requirement	none	Minimum capital requirement: 600 million HUF
Licensing	Non-business activity: registration with the MNB (Hungarian National Bank) Business activity: licensing by the MNB	court entry
Term	up to 50 years	there is no time limit
Minimum required capital for the asset manager, security/collateral requirements	Commercial: HUF 70 million in equity and financial collateral amounting to at least 20% of the total assets under management, but not less than HUF 70 million	none
Management	The asset manager manages the assets.	Structured institutional framework: Board of Trustees, Asset Controller Supervisory Board, mandatory
Costs	Its costs are not much higher than the operating costs of a medium-sized limited liability company.	Higher operating costs due to the mandatory institutional structure.
Right of instruction	The settlor may not give instructions to the trustee.	The founders may instruct the Board of Trustees.
Corporate tax on assets under management	Corporate tax: 9% tax base reduction items may be applied possibility of full tax exemption (in the case of a private individual founder and beneficiaries, if the income derives exclusively from financial assets)	This is consistent with what is described regarding fiduciary asset management.
Taxation upon distribution of assets	Exit taxation at beneficiary level payment of income is taxed as dividends (15% personal income tax, 13% social contribution tax with a cap) payment of initial capital is taxable if an asset revaluation took place at the time of the asset contribution and at least five years have not yet elapsed since the contribution exemption from transfer duty for transactions between close relatives	This is consistent with what is described regarding fiduciary asset management.
Beneficial owner	Asset owner + Asset manager + Beneficiary + Authorized representative in any order	Fixed order: 1. beneficiary (interested party) 2. member of the managing body 3. person with influence over the assets

WE FOR YOU

Nóra Rácz

Partner | Tax Advisor
Diána Elek

Manager | Tax Advisor

Dr. Levente Antal Szabó, partner of LeitnerLaw

»With the support of the LeitnerLeitner Private Clients Division, determine which structure best aligns with your personal, family, or business goals. Benefit from LeitnerLaw’s Family Office and succession planning services. We are at your side with comprehensive professional support throughout the entire implementation process.«

LeitnerLeitner’s Private Clients

LeitnerLaw’s family office and succession planning services

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