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From the Managing Director's desk

Preface - LAVECO Newsletter 2016/2.


Dear Reader,

Váradi László, Ügyvezető igazgató, LAVECO Kft.25 years ago it was similarly autumn in Budapest, with lovely warm days. On September 16th 1991, the day we signed the foundation documents of LAVECO Kft., there were two things which we had absolutely no idea about. One was just how significant a role taxation would play in the future of the company. The other was that 25 years later the company would still exist and we would be enjoying fish soup on the banks of the Danube. At the time, not even in our widest dreams, did we even imagine that the company would become an international body, and that colleagues from as far afield as Hong Kong and the Seychelles would be joining us at the table.

Today, I get more than a little emotional when I think how quickly those 25 years have passed. And if we look at the global statistics, only about 3-5% of the population are capable of setting up and want to set up businesses. And even more interestingly, of those businesses which are set up, only 1-3% remain in existence at the end of the 5th year. Time-wise, we have now survivied 5 times that.

Although LAVECO Kft. is capable of working independently and can stand on its own two feet, for almost 2 decades now it has been almost impossible to think of the company without our foreign offices. I will never forget the day in the autumn of 1994 when Rogelio Tribaldos Alba, manager of the Panamanian company Panazur Inc. and who to this day is still active in Zurich in Switzerland, visited us here. It was Roy who first spoke to us about the „group effect”. 22 years ago we only half believed that this could work. This was why we started looking further afield, and opened the various LAVECO offices abroad, in Cyprus in 1999, London in 2000, Bulgaria in 2004, the Seychelles in 2009, Hong Kong in 2014 and the United Arab Emirates in 2016.

In 1991 we started in something that we knew very little about. Today we are much more experienced, and have learnt a lot in these 25 years. I wonder if we would do it all again. You know, the answer to that is usually: maybe. But what I can say 100% is that we would definitely be involved in something, because to this day I believe in the following:

„Never be afraid to try something new. Remember, an amateur built the ark, but a team of professionals built the Titanic.”

Thank you for your trust and attention so far. We are counting on you in the next 25 years too.

LAVECO Newsletter 2016/2. - Is there another 25 years in LAVECO Ltd.?


With warmest regards

László Váradi
Managing Director