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As of 22 May 2023, regulations introducing the family foundation into the Polish legal order are in force. The Family Foundation Law revolutionizes the previous approach to business succession, allowing the use of modern succession mechanisms.   The act introduces a completely new entity (a family foundation) into the Polish legal order, defining its organization […]

One of the key elements in a limited liability company is to determine the form of cooperation with a board member in the company. It depends on a number of factors, including: the scope of responsibility, the cost of employment, or the effect of being subject to social insurance. Before making a decision, it is

March is the last month to prepare for the close of the previous financial year. In particular, the entities’ attention is focused on the preparation of financial statements and activity reports on the time. Below are the three most important things to do before March 31st. 1. Preparation of financial statements The financial statement is

The minimum share capital in a limited liability company is PLN 5,000. This amount is only used to cover initial operating expenses, which forces most companies to seek additional sources of funding. After the initial contribution for the acquisition of shares in the share capital, shareholders cannot make free payments into the company’s account, they

The digital transformation and the increased use of intermediary services through online social networks and online platforms that allow consumers to enter into distance contracts with businesses have brought new risks and challenges for individual recipients of a service, businesses and society as a whole. The online revolution has made it necessary for the European

Closing down a limited liability company is a complicated process that requires following strict rules and conducting a multi-stage liquidation. While it may be relatively straightforward to establish a company, terminating its activity is a matter that must be undertaken with caution. When a limited liability company can be liquidated? There are no strictly defined

When the operation of a sole trade is increasingly profitable and more business risks arise, the decision to convert the sole trade into a limited liability company (most often a limited liability company) should be considered. The main benefits of the transformation are: limiting liability for the company’s obligations with the entrepreneur’s personal assets, limitation

Suspension of the company’s activity is a temporary and reversible suspension of the company’s business. It allows you to get through difficult periods and return to running the company at a more favorable time. When can you suspend the activity of a limited liability company? A company has the right to suspend its business activity

1. Choosing the right legal form The choice of the appropriate legal form is influenced not only by the business model chosen by the entrepreneur, but also by the desire and speed of future business development or tax issues. A hasty decision already at the first stage may affect the development of the planned business

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