Is establishing a company through S24 the best solution? Speed and cheaper costs speak in favor of establishing a company through S24. However, an entrepreneur choosing this solution should take into account the planned structure of the business.
In addition, incorporation of a company through S24 is only possible if the company structure needs to be simple. The Article of Association of a company concluded through S24 is limited only to its basic provisions such as for example:
- the company’s firm (name) and registered office (locality),
- the objects of the company,
- the amount of share capital,
- whether it is permissible for a shareholder to hold more than one share,
- the number and nominal value of the shares taken up by each partner,
- the duration of the company, if specified.
During the establishing a company through S24, it is not possible to develop the provisions of the Articles of Association to take into account the specific needs, goals and relations between the shareholders. For example, it is not possible to contribute real estate or machinery in kind, and the acquisition of shares is only possible through a cash contribution. It is also not possible to regulate the advance payment of dividends.
Therefore, it is worth considering whether, when establishing a company, it would be better to form a company at a notary’s office by concluding an Article of Association in the form of a notarial deed. The well-thought-out structure of the company and the forms of safeguards for the interests of the company or its shareholders (for example, in the event of the death of one of the shareholder) argues in favor of concluding the Article of Association in the form of a notarial deed.
SKLAW comprehensively supports Polish and foreign entrepreneurs in establishing a company in Poland. We take an individual approach to each client, taking into account the specific needs, goals or visions of clients wishing to run a business in Poland.